In real estate and life, Ed Bruehl has been there and back again. I’ve gotten to know him over the past years and know him as exceptionally poignant and sharp during real estate recap interviews. He always has the juice because he speaks from his head and heart. Every Summer, I make sure to catch up with Ed for his insight into the future of life and real estate in the Hamptons.
Ed is easily excited, and honestly, it’s fun to get him going. He piqued my attention when he talks about the New Hamptons Luxury Ranch. Not everybody needs a mansion, but everybody needs a home. “There is more to the Hamptons than glass-walled mansions. The buyers I talk to are smart. They know the cost of new construction and renovations, so they are looking for smaller footprints so they don’t have to sacrifice luxury.”
More than a good quote, he gives great advice and shares an equal passion for both real estate and the Hamptons community at large. “Our industry, real estate, is all about building community, finding people their home is so personal. I’m honored to be part of that journey and I take it very seriously. Working together, I get to know my clients and customers, and their lives are important to me. That’s a major part of my drive and determination in real estate.”
Getting to know him over the years, as I’m sure his expansive Rolodex of longtime clients and customers have learned, Ed’s passion is contagious. That’s not to say he’s hyperbolic (okay, maybe a little). He quickly recognizes patterns and knows when to act. He is a Wall Street guy, after all.
“Any veteran broker who lives in the Hamptons has to learn and explore constantly, both on and off the market. I’m always studying the market, I love this stuff. I live this stuff. Still, knowing what is available and transacting are not the same; desirable properties in the Hamptons move fast.”
“That’s why listening is so critical,” Ed continues. “I have to know exactly what a buyer wants and what they can invest so we can move quickly. It’s not usually “the” dream house, although that conversation is fun to learn more about their lifestyle and family needs. In reality, there are lots of dream homes in the Hamptons. Finding the right home at the right price in the right place is when you find your “dream home.”
It’s not just what customers want but what they are buying that is ultimately the last word. He saw firsthand the overwhelming success in marketing and selling Watermill Crossing. “I’m seeing today’s savvy buyers focusing on the 3-4 bedroom properties, and the builders are taking notice. The overwhelming success at Watermill Crossing is evidence, but I’m so excited to see the Hamptons attracting new buyers.”
When Ed is excited about a property, it’s because he wants it for the future buyer. “I see the eyes light up, and I can tell they are imagining their life here in the Hamptons. I’ve been most inspired by builders who are making homes in the Hamptons more accessible to a broader buyer base.”
“Smart buyers can see what’s most important to them; Not everybody needs an 8-bedroom house with three of them in the basement. Obviously, that’s critical for some, but for some, it’s water access, a dock, or a school district. Everybody has their own dream!”
What is the biggest trend Ed sees on the buy side? “Buyers want easier luxury. So, they’re downsizing their homes and simplifying life. Instead of needing a mansion in the Hamptons, they’re looking for a smaller-footprint home to complement their properties in Florida and Aspen here in the Hamptons.”
As an aspirational Hamptons homeowner (i.e., a year-round render), it’s a breath of fresh air to hear his excitement about building more smaller single-family homes in the Hamptons. “Of course, quality and the age-old real estate adage, “LOCATION, LOCATION, LOCATION,” are most important. And we all know this is a unique market in the Hamptons. What’s most desirable, especially considering the cost of renovating, is still new construction. That said, I don’t think our future will be in line with the recent trend for maxed-out homes with 8-and 9 bedrooms dominating the market.”
Like Ed, I’ve gotten to know many Hamptons real estate agents and have a newfound appreciation for the work they do. It’s no surprise that the most successful brokers live in the Hamptons year-round. “What, you think people don’t buy homes in September and February? Also, not every home that is for sale is necessarily on the market. I can’t stress this enough. Brokers in the city or up-island are just not able to represent you as well as a local pro who lives in the Hamptons.”
The Hamptons Real Estate COVID Saga is voluminous and well-told. So, we know where we’ve been, but where are we going? “Let’s have a new conversation! Obviously, the COVID surge had a big impact on pricing up and down the market. Things are evening out, and there is an ever-growing demand now for luxurious new construction homes that really focus on what is most important to buyers: luxury they can enjoy.”
Advice for sellers looking to consider selling their house in the future? “I’m all about uncovering value in Hamptons real estate, and my regular first comment is that you should NOT sell Hamptons real estate. Ever. It’s always too good of an investment with a rent roll. However, if you do need to sell, the goal is to capture as much value as possible. This is why I always provide a free intel report and professional photography so that you can capture the most value when and if you decide to list in the future.”
