Brown Harris Stevens’ Andrea L. Ackerman On The Transition To A Buyers’ Market, What Sets Hamptons Real Estate Apart, And More

“I have been in the real estate business for 36 years. I was in charge of a waterfront development project and positioned to sell condominium cottages and boat slips,” Andrea L. Ackerman, Brown Harris Stevens of the Hamptons Licensed Real Estate Associate Broker, told Hamptons.com. “I pursued my real estate license to be able to sell the units. When I realized that the project was undercapitalized, I went on one interview and began my residential real estate career. It was the best decision I ever made.”

Now Ackerman, who is based in the Brown Harris Stevens Bridgehampton office, focuses on the luxury residential sector of the market. “I have been in the real estate business longer than most realtors and agents out here. Not only have I been a consistent top producer in both sales and rentals, but I have also managed and owned multiple offices in the Hamptons,” the Sag Harbor resident explained. “Throughout my career I have been able to maintain a pristine reputation focused on trust and professionalism, in an extremely competitive real estate environment.”

When not helping clients find their ideal abode, Ackerman loves to take advantage of all that the Hamptons has to offer. “My go to restaurant is Tutto Il Giorno in Sag Harbor, followed by Bobby Vans in Bridgehampton, East Hampton Grill (for the best rib eye), and American Hotel in Sag Harbor,” she noted. “My favorite beach is Long Beach in Sag Harbor, and some of the local events that I love are the Hamptons International Film Festival and the Hampton Classic Horse Show. I love to shop at Brunello Cucinelli and TJ Maxx.”

If “location” is the first rule in real estate, what is the second?  Why?

AA: The second rule in real estate is pricing. Everyone wants a good deal, both buyers and sellers. Pricing correctly is the critical piece to create a successful transaction.

The Hamptons market has the high-end luxury section with homes well over $7 million and the flip side with homes under $500,000, plus all of the great homes in between.  Where are the buyers right now?

AA: There is very little under $500,000. The lower priced properties ($2 mil and under) always have momentum. At the moment, the high end is hot as well. Again, pricing correctly is the key to success.

What is your forecast for the fall real estate season in the Hamptons?

AA: It’s times like these where I wish I had a crystal ball (ha!). We used to be tied to Wall Street. So when the financial market was up, we were busy. Stocks have never been higher, and real estate has been erratic. It’s hard to predict anymore. This year real estate got off to a slow start, but came around mid-summer and continues to be active. Fingers crossed for a good year in 2020 for all!

With the market cooling over the last year, what do you think is needed to turn things around?

AA: We definitely need motivated sellers with lots of patience. There is a lot of inventory to move.

Brown Harris Stevens’ Andrea L. Ackerman. (Courtesy Photo)

What are the emerging trends in architecture?

AA: The shingled traditional is becoming dated. ‘Modern, but not too extreme’ seems to be what is desirable, and new is selling better than old and dated.

How have buyers/sellers changed over the past two years?

AA: Transitioning to a buyers’ market over the last two years has created a challenge. Some buyers are bottom feeders who offer too low. This creates difficult negotiations. Sellers are having difficulty accepting the change and reducing their prices to a realistic selling point.

When it comes to unique features and amenities, homes in the Hamptons have it all.  What are some of your favorites/amenities that really stand out?

AA: Quality for price and good design are important. Staging is a great tool. Gunite pools, well finished lower levels and high-tech systems are also aspects that impress.

Which towns/villages are the most sought-after right now?

AA: Sag Harbor is hot, if charm and convenience is your style. Waterfront, if affordable, is most buyers first choice.

What is so special about the Hamptons real estate market?

AA: The Hamptons is the Gold Coast of Long Island: we have the ocean and the bay. There are some of the most beautiful estates out here, as well as the most unique summer colonies; there is something for everyone. Also, you have to love the crisp air and spectacular sunsets.

Tell us about some of your most memorable sales and what made them so.  Was it the selling price, location, celebrity buyer?

AA: I never divulge who my buyers or sellers are if they want anonymity. I don’t speak about my deals. The true success for any broker is TRUST.

Tell us about one of your favorite listings on the market right now.

AA: I have two favorite listings. The first is 14 On The Bluff in North Haven for $12,950,000. It sits on Noyac Bay with a stairway down to the beach. The western sunsets are magnificent. The other is 217 Rose Hill Road in Water Mill for $17,995,000. This is a 5.3 acre estate with 330 feet on Mecox Bay, a dock and Gunite pool. The house is vintage 1920’s and the property can be divided in two separate and single lots.