Haute Residence hosted its third “Coast to Coast” real estate webinar, featuring three of the top agents in their respective markets Jeff Chertow (Malibu, CA), Vicki Gaily (Bergen County, NJ), and Joel Schemmel (Sarasota, FL), continuing to add to its successful series of live conversations with industry experts, developers, agents, and brokers.
The insightful dialogue was hosted by Haute Living's Erik Haase. Watch the webinar below.
About today's panelists:
Jeff Chertow: Managing Partner of Pinnacle Estate Properties Malibu Colony, consistently been a top 10 producer since 1987 in Malibu, CA sales volume.
Vicki Gaily: Founder of Special Properties and record-breaking agent for over 37 years in Bergen County, NJ.
Joel Schemmel: Top producing team with Sotheby's in Sarasota, FL, top 1% overall in Sarasota.
Jeff Chertow: "Our inventory right now is very low, so I've told every one of my potential clients 'don't wait'...(Virtual tours) give an idea, but I have not seen one deal happen, nor do I think will happen, without (buyers) coming to visit... I see people are not going to be traveling abroad (for the summer), so a big trend we are seeing is that a lot of them are renting high-end beach houses here and are staying in the country and somewhat local... This has been a gamechanger for all of us; a different way of doing business. We are getting a lot of phone calls from people in New York City that are bi-coastal, or in Beverly Hills and San Francisco looking to social distance."
Vicki Gaily: "The future will be fine. We have to get through this now... It's a time to be authentic and people have to trust going back to doing business; not the old norm and not business as usual, but make it right for us now... People can get a really good deal. Manhattan is between $2,000-3,000 per foot in their prime areas. We are between $500-600 per foot, 20 minutes outside of Manhattan. The value that you can get in our area of Bergen County is extraordinary... We are showing properties. We are putting transactions together. We were afraid of what people's attitudes were going to be, but we did not lose one transaction because of COVID(-19)."
Joel Schemmel: "The higher end of the market is engaged. Those who have the ability to buy now are taking advantage... It's almost like the faucet is turned back on here (in Sarasota area). We have been incredibly busy for the last two to three weeks. All those people that were contemplating retirement or buying a second home in 1-5 years are all of a sudden want to talk... We went from a pretty good first quarter to almost a standstill at the end of March, from 50mph to zero, but we adapted to that."