No matter where you live, there tends to be an off-season when it comes to real estate. The sales and rental market may be a little different. We asked real estate agents on both the East End and Palm Beach what is their approach to keeping busy in slower seasons in their markets. Also, do they advise buyers or renters who might find themselves looking in the off-season?
Michael Lorber
DOUGLAS ELLIMAN
NEW YORK CITY, HAMPTONS AND PALM BEACH
Great question! Yes, the Hamptons does slow down in the winter, not nearly as much as it used to, but overall our schedules become more manageable as a large majority of our customers and clients have headed south for the winter. So as a broker who doesn’t like to sit still, becoming active in the Palm Beach area, where I have had a home on the island for over a decade, has more or less been a must. The reason is twofold since our clients are there, it is a great place to connect with them and keep the relationships, both personal and professional, going all year long. It has also allowed us to become their broker in every market they’re in. We successfully launched our team in Palm Beach this year to fulfill such a commitment. It’s an exciting time for us and we look forward to helping more people with the Palm Beach to Hamptons connection.
Darlene Streit
THE CORCORAN GROUP
PALM BEACH
While there might be less sales activity at certain times of the year, we’re actually busy year-round. We use the off-season to keep our momentum going and to prepare for busier times. For us that means developing new marketing and ad campaigns, implementing new programs to generate leads, cultivating our current prospects, and staying in touch with our sphere. The market may be moving slower during the off-season, but there are always buyers, sellers and renters, and that makes it viable year-round. Depending on someone’s needs or the motivation for their real estate objectives, it can be an advantageous time. For buyers, better pricing can often be obtained, and sellers may be more open to negotiating, especially if their property has been on the market for a while. For sellers, there is less competition, and desirable properties can still attract multiple offers. We also use this time to work with sellers to make enhancements on their property in preparation for listing it. With fewer buyers, sellers or renters in the market in the off-season, there’s less competition and that can be an advantage depending on each person’s situation. But overall, there’s never really a “slow” time for us!
Robert Kohr
SOTHEBY’S INTERNATIONAL REALTY
EAST HAMPTON
Having lived on the East End my whole life and with over 20 years experience as a broker, my approach during the off-season is to get in touch with my clients. Whether it’s a simple email, a handwritten letter, or picking up the phone, reaching out to stay connected is something I make sure is part of my continued real estate practice. It is imperative to keep buyers and sellers informed about the market and inventory for upcoming seasons so they can best prepare for buying, selling, or renting. Many buyers and sellers ask the question, “Is it a good time?” My job is to advise and find them the property that fits their financial and lifestyle needs which may be in the off-season and can only be accomplished with an agent who stays in tune to the local market 12 months a year. If that special property comes up — it may not be wise to wait!
Christine Miller Martin
COMPASS
NEW YORK CITY
The offseason is a somewhat misleading term as a lot of activity is frequently happening “behind the hedges.” In fact, this is the time when many deals are happening quietly as buyers want to close before the beginning of the season. This is the ideal time to reach out to clients and referral sources as well as to top brokers in major markets. I often try to meet them in person. The Palm Beach broker, banker, or trusts and estates attorney is likely going to have a client for the Hamptons and vice versa. And it’s always a great excuse to spend some time in Palm Beach in the winter. In seasonal markets like Palm Beach and the Hamptons, transactions frequently take place during the off-season. While the towns and beaches may seem quieter offseason, inventory and interest from serious buyers tend to remain stable. This time is also valuable to educate new rental clients on what towns are best for them to help them make informed decisions before committing to a seasonal rental.
Patrick McLaughlin
DOUGLAS ELLIMAN
SAG HARBOR
While Memorial Day to Labor Day is commonly known as “the Season” in the Hamptons, since the pandemic, the season has extended to include the fall, winter and spring months as well. Many seasonal residents have become full-time residents and others are just coming out more often, enjoying the region’s off-season beauty and taking advantage of the full roster of activities to enjoy year-round from fall’s Hamptons Film Festival and East Hampton Historical Society House Tour to the upcoming early spring Hamptons Whodunit Festival. Although Round Swamp Farm and Duryea’s may close for the colder months, as a broker, winter no longer means vacation time for me. I find myself busy year-round, preparing properties, getting ahead of the summer rental season, and catering to clients and customers who, too, see the Hamptons as a year-round paradise.
Ashley J. Farrell
THE CORCORAN GROUP
WESTHAMPTON BEACH
When it comes to securing a dream home, whether for the summer or a lifetime, in the Hamptons, the off-season should be a savvy home seeker’s on-season. Overall, our region is bustling from Memorial Day to Labor Day – it’s our most prized time. But as school resumes, renters head back to their primary homes and others fly south for the winter. As a result, things quickly become quiet. Fear not, the good news is this can be the best time to buy or rent. There is less competition in the market, more availability on the rental front — especially if you start looking for next summer’s getaway in the fall — and time to renovate, should you opt to purchase. Those who buy in the fall or winter have ample time to update their home, put a personal touch on it, order furniture, and have a move-in-ready property all before Memorial Day. Contrary to popular belief, the summer is a tough time to shop for a home. Many houses are rented and if they’re not, owners aren’t willing to be disturbed for showings — they too are on vacation and enjoying some R&R.
Tom Shaw
SOTHEBY’S INTERNATIONAL REALTY
PALM BEACH
I don’t change course during the Palm Beach off-season. I stay in touch with my colleagues, continue studying the market, and keep a consistent focus on what’s available, finding the best opportunities in each price bracket. This way, I am able to keep my clients informed and up to date about properties that pop up on or off-market — no matter the season.
Deborah A. Pirro
DANIEL GALE SOTHEBY’S INTERNATIONAL REALTY
WESTHAMPTON BEACH
I love to take advantage of the off-season which seems only to be a few weeks here and there, to catch up with past clients I may not have had contact with during the year. Slower times are also a great opportunity to reach out to colleagues across the country for market updates and to share successes and challenges. Updates to my calendar with community events, professional networking and volunteering for the coming year, along with reviewing my past year, keep me organized and motivated. I absolutely stay in touch and advise clients during our slower times.
This article appeared in the Feb. 16, 2024, issue of Behind The Hedges magazine. Read the full digital version of the magazine online.
