Mary Slattery, a veteran broker at The Corcoran Group, looks so familiar. Was it from a television program, an open house … perhaps a gala fundraiser? The answer is probably all three. Slattery is a name in Hamptons real estate that has come up as a person to go to for integrity and hard work. She is involved in a lot of philanthropies but in her daily work, she is a partner to her clients and customers. The kind of attention she requires for her work takes a lot of dedication and authentic care. We wanted to learn more about her methodology as an associate broker and how she went from actress in New York City to power broker in the Hamptons.
Mary, in Hamptons real estate your name comes up regularly as someone who is very hard-working and that knows the region deeply. What would you say is your super-power as a broker?
Wow! That is really gratifying to hear. I would say that my super powers are tenacity and patience. I totally get that the Hamptons is primarily a second and third home market so the urgency to buy or sell is just not always there. Of course, the pandemic changed that for a couple of years which was an absolute frenzy. One of my strengths is in understanding the process that goes into home buying or selling. It takes “stick-to-itiveness” and time – more time than we really expect. I stay focused on the process. Nothing gives me greater joy than matching the home to the people. I have buyer and seller relationships that I have honed over years well before a purchase or sale ever happens.
You recently sold the Terry Cottage, the iconic restored cottage that is part of the The Village Latch Southampton development plan for $6.45M. Can you explain what the The Latch is for our readers?
The Terry Cottage was originally the 19th century Irving Hotel and was adjacent to The Village Latch Inn. The Terry Cottage and the original main building of The Village Latch Inn (the two prominent white buildings on the site) are reputed to have been designed by famed architect Stanford White who was the architect of the neighboring Whitefields. Beechwood Homes acquired the entire Village Latch property in 2016 and worked closely with the Village of Southampton to bring new life to The Village Latch compound. Both the Terry Cottage and the main Village Latch building are historic so the process for the developers was detailed and painstaking. The end result is a stunning preservation and reimaging of two prominent Southampton Village buildings as well as the addition of new condo townhomes that Beechwood Homes is known for developing. I love historic buildings and have listed others in Southampton Village.
Would you say that you’re a Southampton specialist?
Every broker has an area or areas in which they feel particularly comfortable. Mine would be Southampton Village, Southampton, and Water Mill where I have been a resident at various points over the 25 years I have lived in the Hamptons. Truthfully, I have listed and sold from Westhampton to Amagansett as I have had buyers and sellers for those areas. But Southampton Village is my home and I feel that I know it the most intimately. I also love Quogue Village … it is a step back in time.
We imagine it was pretty chaotic during the pandemic … what did you learn through that chaos and how do you think you grew as a result of getting through it?
What a great question. The pandemic was beyond chaotic to say the least. The frenzy at which all agents were working was unlike anything I have seen since being licensed in 2006. The shutdown from end of March 2020 to end of June 2020 was a gift for several reasons. I walked 5 to 6 miles per day and fell in love with the Hamptons all over again. I knew that the shutdown was not going to last forever so I took full advantage of the down time which I had not had for years. I caught up on reading and really upped my mediation practice. I definitely benefitted from the time off and was fully prepared for the onslaught of buyers and sellers that came after that. I also found myself really talking to people. Not texting. Talking. I have carried the practice of reaching out to people by phone into my post-pandemic life. Even for just a hello or a quick check-in. The pandemic was so isolating. It reminded me of the power of direct communication.
Is there a property you are particularly proud of selling for your client?
I think the Terry Cottage at The Latch ranks right up there as well as 104 Post Crossing in Southampton Village which I sold twice. 104 Post Crossing is one of the first homes I listed as a new agent. It found its way to me three times as listing agent. Twice for one owner and once for the owner who renovated the Queen Anne Victorian. Each home has a personality and I really do develop a relationship not only with the seller but with the home. My business has always been built on relationships. It just occurred to me that the relationship extends to the home. A new insight.
What advice would you give sellers right now?
I encourage sellers to be very, very sure that they are ready to sell. Especially with the pandemic where we saw a lot of flash and cash in the Hamptons. A friend of mine says I actually talk people OUT of selling their homes. And that is true. It is really challenging to buy in this market with such low inventory. Many sellers will never replicate what they already have. When sellers are ready, I am all in.
What about buyers?
Buyers need to breathe, practice patience and be totally ready to move if they find something they love. Buyers need to be REALLY ready to move. We are experiencing so many multiple bidding situations and unless a buyer has all their ducks in a row, they lose out. Buyer fatigue is real. Broker fatigue is real. In some cases, I have encouraged buyers to wait a bit to let more inventory come on the market.
How do you think the market will play out for the remainder of 2022 with the rising interest rates? Does that kind of news affect our markets and how?
Even though I meditate, I do not have a crystal ball. There does seem to be a slowdown in the market. But we also have way less inventory. Interest rates will definitely affect certain segments of our market but not all. Sellers are hard pressed to accept financing contingencies so the risk is all on the buyers. I am hopeful that we are in what I like to call a “leveling out” rather than a down market. Just as the pandemic leveled us all out so too can a very challenging market.
You worked as an actress in New York and then as a producer in television. How did you find yourself on the East End as a broker?
That is a very long story (laughs). But in 1997 after renting here in the summers for a few seasons, we bought our first beach shack, which I called The Dump. In 2000, we decided to make the Hamptons our primary home. I had lived in Manhattan at that point for 22 years. I never ever thought I would adjust to the laid back lifestyle here. But much to my chagrin, I did and now I cannot imagine calling any other place else my home. The Hamptons embraced me and I feel really blessed to be here.
What is it about the East End that you love so much? You must love all the arts and entertainment here.
I do love the arts and entertainment here. I always attend the Hamptons International Film Festival. I support as many arts organizations as I can. I love the Southampton Arts Center and the Peter Marino Foundation as well as the Sag Harbor Cinema. There is so much to see and do. I also adore the farmlands. I grew up in the Midwest and nothing makes my heart sing more than driving through the Sagaponack farm fields or driving south on Deerfield Road and seeing the horses grazing. Oddly, I am not as much of a beach person as I am a farm person. And I count the minutes until all of our local farm stands open up. I shop local as much as I can – fruits, vegetables, flowers. As a matter of fact, I have a lot of what I call “secret spots” to buy flowers. Secret because I do not want everyone to know about them.
Why did you choose Corcoran as your brokerage?
I started my career in real estate in spring 2006 at Allan M. Schneider & Associates which was purchased by The Corcoran Group in August of 2006. Corcoran is a very strong partner for me in my business. Over the years, I have developed terrific relationships with my Corcoran colleagues and my management teams both in the Hamptons and in New York City. I have had a few really challenging life events since 2006 and the support I have received at Corcoran is extraordinary. I think I am perceived as a “company” person. If that means that my firm and I value each other, then it fits. Corcoran is very responsive to my needs and I feel valued. I also love that my firm was founded by a woman (Barbara Corcoran) and has not only a woman CEO (Pamela Liebman) but many, many women in management positions. Too many to name actually.
You’re involved in several philanthropic endeavors. Can you tell us about some of the ones that you’ve relationships with?
I am very active in several East End organizations. Southampton Arts Center, Parrish Art Museum, Southampton History Museum, Have a Heart Community Trust, The Ellen Hermanson Breast Center and Foundation, Gimme Shelter Animal Rescue and most importantly I am East End Co-Chair of Corcoran Cares which raises funds through employees and agents of Corcoran to support small local charities. I believe strongly in giving back to my community. It was how I was raised so in honor of my parents I give back as much as I can.
What do you do in your leisure time?
Ha! What is leisure time? When I figure that out, I will let you know.
To learn more about Mary Slattery or see her past and present listings, click here.
