Posted on Thursday October 27, 2011 6:55 PM
by Joseph Kazickas 2 Comments »

There isn’t much to say.

Our streets are windswept, wet, and empty.

Social unrest is in the air. We saw our first “Occupy the Hamptons” sign on 27 today…

…expect a party at Stephen Talkhouse soon.

We spoke with a hopeful seller of a Watermill estate priced at $9,495,000, anxious to market to the European consumer. Here’s the video she produced…
The two mega-agencies representing her have decided to split any commission equally, regardless of who sells the property.  That was a surprise to hear. Ordinarily 80% would go to the selling co-exclusive agency, 20% to the non-selling co-exclusive agency. And of course in the event a co-brokering agency sells it they get half, with the two co-exclusive agencies splitting the other half.

Whatever happened to aligning everyone’s interests? One thing’s for sure, the two brokers interests are aligned!  Neither one is incentivized to sell the property. However it sells, we’ll collect!

And as far as Europe is concerned, what’s the strategy? The International Herald Tribune? Europe be damned, they are all suffering there anyway but that doesn’t preclude launching a focused and targeted internet campaign.

No wonder real estate agents consistently rank along side used car salesmen and lawyers for ethics.

George Simpson of eastendlistings.com reports that Prudential is restating earlier published market data without comment, hoping to slip it by. “Who cares?” I asked. “No one.” he answered, with a resigned sigh.

But you can’t not care about inaccurate data. Accurate information matters. It differentiates, which is why Simpson cares. And it grounds real knowledge. But it seems to hardly matter to observers of the Hamptons real estate market who are mostly interested in the last expensive oceanfront sale.