The Hamptons real estate market is unlike any other. 25A Magazine recently sat down with Andrew Ragusa, CEO/Broker of REMI Realty (remiagency.com) on Long Island to ask him his advice on selling a luxury home in the Hamptons and other real estate trends in the area. Ragusa is a Licensed Real Estate Broker, Sellers Representative Specialist, Accredited Buyer Representative, & Short Sale and Foreclosure Resource Specialist. He is a highly regarded media expert on real estate issues.
Here are a few of Ragusa’s expert tips on selling your luxury home in the Hamptons:
“When you are selling to a customer that has no issues with money and price limitations, the goal of the sales professional is to evoke emotion and the presentation of the home will be the centre focus of a successful sale. Buyers need to be able to walk through a property and picture themselves enjoying the space. They need to see themselves living the lifestyle they are looking for and envision their children in the school district. The buyer will need to feel like the property is “home” and see how they can have their family live happily with them. The goal is to trigger an emotional reaction and make them fall in love with the home and that all falls to the presentation,” says Ragusa.
As for some other real estate trends, Ragusa sees happening in the Hamptons housing market for the next few years, the broker points to the rental market.
“I think Condos and luxury rentals are going to be the next in-demand real estate products. Buyers are starting to be more service-oriented and the maintenance that comes with homeownership is not for everyone. Luxury rentals that include amenities and services will be a big hit soon.
Rentals are positioned to boom over the next 5 years as prices keep going up and the consumer looks for convenience more than they value long-term investing. People can take the money they would use for a down payment and to maintain a property and invest it into other wealth-building resources while they rent. There is a lower cost to live with rentals since no renovations are done by the tenant, no mortgage interest is accrued, and no wear and tear maintenance is performed by the tenant. A flat fee for living with amenities is going to be the next big thing.”