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Price It Right: Hamptons Real Estate Insights From Douglas Elliman’s Richard Doyle

Nicole B. Brewer by Nicole B. Brewer
July 10, 2013
in Real Estate
Home Real Estate

Hamptons native Richard Doyle, Vice President at Douglas Elliman Real Estate in Southampton, might be relatively new to the real estate, taking home “Rookie of the Year” honors in 2009, but he understands the Hamptons market telling us, “If the price isn’t right, well then, let it sit. We have to be realistic as buyers and sellers to comprehend there is a fair price for every location.” He followed up the Rookie nod with President’s Circle in 2011, Chairman Gold Circle in 2012, and was named one of the Top 10-Hamptons, Long Island, & Westchester also in 2012.

What is an easy way to increase the value of a property?
RD: Put yourself in the buyer’s shoes and just pretend. There are certainly many easy fixes that are over looked that can effortlessly help sell a property in maximizing the curbside appeal. The most important factor is having the right broker to represent your property that can properly expose, highlight all the selling points, and work outside the box to get the job done. Price it right is most crucial aspect in order to get top dollar instead of chasing the market and letting the property sit, decreasing in value.

Which towns or villages are the most sought-after right now?
RD: This can be considered case by case. I hear, in the numbers, that Montauk, further east markets, are on the rise, but I have personally dealt with a lot of buyers this year taking focus strictly to Water Mill. There will always be a premium with waterfronts, but after the Hurricanes and rules/regulations, open farm land is right atop the list.

Hamptons native Richard Doyle, Vice President/Gold Circle/Top 10 in the Hamptons (2012) at Douglas Elliman Real Estate in Southampton. (Courtesy Photo)

What’s the most extreme thing you’ve done to make a sale?
RD: Recently, I paid a lot of money out of my personal pocket to get renters out of my sale listing into a better home, with the risk of not having the sale go through. There was no guarantee the sale was to go through, even though it did, I certainly had to get creative. The situation was beyond tricky, but there is only one way to stay ahead of the curve in this business and it deals with thinking outside the box.

What are the emerging trends in architecture?
RD: More modern and unique architecture are starting to take notice in new construction, however the open-spaced floor plans with white marble, cedar shake traditional always has a place in the Hamptons. En-suite bedrooms up/down and more salt water pools.

How have buyers and sellers changed over the past two years?
RD: With where technology is, buyers and sellers have become more consumed with information. Of course this can be a worthy notion, just as long as the information is accurate. Brokers have the tools to advise both sides correctly to price right!

What is your forecast for the fall/winter real estate season in the Hamptons and North Fork?
RD: Although there is no factual answer at this point in time, we can only hope that business continues to thrive in this recovering economic/real estate market. We have been steam rolling before the fiscal cliff 2012 talk cliff right into this summer. I expect this busy market to endure. In my opinion, we need more inventory to hit the market this fall/winter for all of us to keep riding the wave. Fall is always a demanding stretch.

What is a sure sign of a “Hamptons” home?
RD: Home is what you make it and what you love about it, not about chasing the “Hamptons” home. The majority seems to still be the cedar shingled traditional of new construction phase. However, there is a butt for every seat, and it’s all about understanding and listening closely to the details of the customer’s needs in their own “Hamptons” search because every buyer is different.

When it comes to unique features and amenities, homes in the Hamptons and on the North Fork have it all. What feature has surprised you the most?
RD: Buyers are just as concerned with amenities outside as well as inside their potential Hampton homes. The outdoor fireplace and pool houses for entertainment are popular novelties as well as elaborate media rooms.

Tell us about one of your favorite listings on the market right now.
RD: Listings come and go, but currently one of my favorites is 249 Sebonac. Located privately between the world ranked golf courses and the Peconic Bay, this rare Hamptons beauty is a unique Post & Beam pine-framed with room for tennis, and is yours for the taking.

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Nicole B. Brewer

Nicole B. Brewer

Nicole, an award-winning journalist, is Executive Editor & Publisher of Hamptons.com where she focuses on celebrity interviews, fine living and design, social events, fashion and beauty. She lives on the North Fork with her husband, their two daughters, and Bernese Mountain dog, Cooper.

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Elevate your next dinner out with Le Launch, a private and luxurious water taxi service in Sag Harbor. Who needs the valet when you cruise up in style to your waterside restaurant? Skip the traffic and enjoy the serenity and scenery of the Hamptons via private water taxi. @lelaunchhamptons

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Southampton Arts Center presents, FIGURES TRANSFORMED, an exhibition of work focused on the representation of human form (i.e., figures). Featuring art from three artists across generations each of whose art incorporates the figure as central imagery. This thought-provoking exhibit is approachable for frequent gallery attendees and casual viewers alike—everybody has a body! @southamptonartscenter  @deborahbuck

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This August, celebrate the last moments of summer with a one-of-a-kind gastronomic experience aboard a Dom Pérignon-branded yacht on the waters of Sag Harbor and Montauk.

For the first time ever, guests are invited to reserve private Dom Pérignon cruises on an 88’ San Lorenzo superyacht while enjoying a sushi omakase concepted by renowned 3-star Michelin chef Masa Takayama. His omakase experience has never been offered to book on a yacht… until now. Chef Masa crafted a unique menu designed to pair perfectly with recent Dom Pérignon vintages: Vintage 2012, Rosé 2008 and Vintage 2003 Plénitude 2. @domperignonofficial  @chefmasanyc

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Join for their fundraiser event to support iMentor youth. 

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  • Broadway Out East Returns with the Biggest Stars Performing at Calissa

Broadway Out East returns this summer season at local hotspot Calissa. The Mediterranean hotspot located at 1020 Montauk Highway will host a series of performances by some of Broadway’s most talented stars including Andrew Barth Feldman, Teal Wicks, Kathryn Allison, and Brandon Victor Dixon. Broadway Out East is produced by Justin Smith, the Concertmaster of Dear Evan Hansen.  Performances at Calissa will take place each Thursday from August 11th, through August 25th. @calissahamptons

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  • The 2022 Hampton Designer Showhouse Returns to the Hamptons this Summer

The highly acclaimed Hampton Designer Showhouse will return this Summer to Southampton, NY with a completed reimagined stately home presented by HC&G (Hamptons Cottages & Gardens). For the past 22 years, the Hampton Designer Showhouse has been the showcase for some of America’s premier design talent and has raised nearly $2M for Stony Brook Southampton Hospital since its inception. @hamptondesignershowhouse

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