Enzo Morabito’s philosophy is simple, one developed and honed over 25 years of selling luxury Hamptons real estate. Known for his negotiation skills and ability to navigate complex deals, Morabito has earned nearly every top honor at Douglas Elliman. But what drives him is not winning awards, but the reward he finds in “staying relevant and in touch with what buyers and sellers need, and also in educating them so they can make the smartest decisions to get the very best outcomes.”
His passion for learning and penchant for entertaining at the fore, Morabito shares stories and insights finding the hottest East End markets, building a personal brand, loving what you do and where you do it and more.
Life, Love and Island Living…
My family moved to Long Island from Italy when I was nine years old. I was raised in the Bellport-Patchogue area and started coming out the Hamptons to surf when I was 16. I loved it so much that I decided to move here after graduating from college, at Stony Brook, and I never left.
Several years ago, my wife, Cathy, and I decided to move to Westhampton Beach from the Sag Harbor/Bridgehampton area. We came here for our son, Alessandro, because the school district is outstanding. He’s now a junior at Westhampton Beach High School.
We had planned on moving back to Sag Harbor at some point, but we just love it here so much, so we’ve decided to stay. We just finished building our new house in the village.
The Wonders of Westhampton Beach…
Have you seen what they have done to Westhampton Beach? It’s incredible. All that renovation and construction on Main Street has been worth it. Boy, have things changed! People used to say, “Is that even a Hampton?” But now it’s an incredibly hot market, and I’ll take part of that credit. I bet on this area years ago and I’m happy to say that it was the right decision. Since, my team and I have been fortunate enough to capture the spirit of the market and have been amply rewarded. The Enzo Morabito Team is the top lister and closer in this area.
Scorching Sag and “The Closer Sagaponack”…
People are flocking to areas west of the Canal. In droves. For example, Hampton Bays is another area that I predicted would emerge, and it’s now booming. The same for Quogue, which I call “The Closer Sagaponack.” Both are rising in value, even more so in the last few months. And then there’s Remsenburg. Are you ready for this? That market has exploded in this past year. We’ve analyzed the data and it’s shown us that closings in this previously quiet hamlet are on track to more than double from 2019. The median sale price has also nearly doubled year over year—from $875,000 in 2019 to $1.599 million in 2020. That said, you can still get a phenomenal buy here on the water, and inland too.
East of the Canal, Sag Harbor is still scorching hot. And it’s not just in the village. We’ve seen that increased interest spill over to the periphery and surrounding areas as well. Being close enough but not in the village is even better for those who love what Main Street has to offer but don’t want to deal with the congestion. Another type of property that we’ve seen growing demand for is the large home that abuts land reserve. We’ve seen these north-of-the-highway properties, which until now had been undervalued, catching up to south-of-the-highway pricing and going for close to $8 million.
Planes, Promos and the Power of Marketing…
I can confidently say that I’m the #1 marketing broker in all of the Hamptons. We use everything at our disposal. It starts with the analytics—we are the most research-oriented team in the Hamptons. Period. Yes, I’m pretty good at spotting trends but I’m not clairvoyant. I’m just making sure that I am always in command of the figures and can stay on top of the data. We also place weekly full-page ads in newspapers and magazines, and use radio, the internet, Zoom, TV, sponsorships, etc. Anything that works that gets the word out and reaches our clients and customers. We even hire planes to tow banners past the beaches in the summertime. It’s about educating, promoting, showing who we are and also providing a little fun. The message is serious but it’s also meant to be entertaining. For example, we’ve had planes tow messages like “Perfect Weather Courtesy Enzo” and “What’s HOT? Call Enzo.” That particular one, I could tell where it was flying between Westhampton and Montauk because of the calls that were coming in up and down the beaches in real time. It was wild.
Pushing Boundaries and Oneself…
I’m competitive—in business, in sport, new experiences and in life. I’m also a former teacher, and I’m determined to continue growing and learning. If I ever got to a point where I was doing real estate without learning anything new, I’d quit.
This article appeared in the November 2020 issue of Behind The Hedges. Follow Behind The Hedges on Twitter, Instagram and Facebook.
