Teamwork makes the dream work really comes to life when talking about The Atlantic Team who recently made the RealTrends + Tom Ferry’s The Thousand List of 2021 where they came in at number forty-eight among the nation’s top teams by selling $171,593,625 in 2020 — that’s a lot of salt-water Gunite pools and butler pantries, aka luxury real estate.
Power brokerage, Douglas Elliman, has cultivated some of the most successful Hamptons real estate teams and their number one collective is certainly The Atlantic Team. It’s a sixteen-year alliance that is comprised of agents, Justin Agnello, Hara Kang, and James Keogh. As of 2020, they are ranked as the number one team in the Hamptons and the number seven team in the nation company wide — out of thousands.
Their charming, approachable demeanor is the opposite of what one might think of when they imagine hungry real estate sharks, but their vibe alone could sell ice to Eskimos. Albeit, in the end, it is their experience-packed backgrounds that consist of vital skills that combine to create a unit that is a force of collaboration, camaraderie, and resoluteness. It includes of a deep knowledge of business, technology, finance, and the luxury market that includes the oft-misused social media realm for targeting the right prospects. It isn’t easy to get a 99 percent referral rate, the holy grail for real estate professionals, in this hyper-competitive market, but The Atlantic Team is doing just that.
We caught up with them to learn about how they manage their business, what they think a post-Covid real estate market might look like, and so much more.
There aren’t that many teams on the East End who have been together and as wildly successful as yours for over 16 years! What’s your secret?
Justin Agnello: Over the years, we’ve seen lead agents dive into different team models, with most opting to work with their own subagents or assistants. Some have had amazing success, while others are still trying to find what works. Pretty uniquely, we started out from the very beginning as an equal partnership, and it’s worked tremendously well for us. Maintaining that dynamic is truly the secret sauce to the success we have enjoyed thus far.
Teams work differently. Do you delegate responsibilities within the team, such as between rentals, sales, open houses, etc. Or do you all share responsibilities for all of the clients equally?
James Keogh: Here again, our equal partnership helps us to thrive. All of our team members can handle the full spectrum of real estate, whether rentals or sales, and at all ends of the market. We can each carry our own weight and responsibilities but are always in the loop and dialed in on each other’s new listings and deals. It works really well to tap into the team knowledge like when we might have a new buyer with specific search criteria, for example. Of course, like in any relationship, communication is key in supporting one another and in providing seamless service and the best opportunities to our clients. When buyers or seller work with us, they are really getting what we like to refer to as “the power of three.” Our collective knowledge and expertise are big benefits we offer clients, and we find it differentiates us from the competition.
How did the pandemic affect the way you worked individually and as a team? Was it difficult to pivot so quickly?
Hara Kang: Market conditions have always been very unpredictable, so we’re used to staying nimble. In our job it is important to be able to adjust quickly and look ahead, so that we can advise our clients properly. It’s like shifting gears on a car, you must move from first into second eventually and as we watch everything that goes on around us, we shift quietly and quickly to meet what’s ahead of us.
Throughout the sixteen years we’ve been in real estate, we’ve experienced several down cycles where emotions were high, and a buyers’ market was in full swing. That’s exactly what we were walking into until the pandemic hit. Then suddenly an overwhelming number of calls from buyers were coming in hot and we realized that the tide was changing. As we saw that sharp turn into a seller’s market, we didn’t waste any time reaching out to our clients to share our market insights and consult with them on whether to transact or hold on their properties in the Hamptons and in the city.
James Keogh: On the day-to-day, as work shifted to be remote, our team prioritized staying in the same level of communication we were used to with each other and with our clients. This meant having Zoom calls set up every forty minutes. It was nice to be home with our families, but you did feel like you were glued to your computer all day. We made it work and thankfully had the technology we needed to support us.
As we finally come up for air from the pandemic, what are your thoughts on how the market will go forward for the rest of 2021 and 2022?
Justin Agnello: We expect to see strong sales in the fall and spring of 2022 throughout the Hamptons. With employers and employees embracing the work from home model necessitated by the pandemic, the Hamptons certainly shifted to become more of a year-round community, and it will continue to be the top destination from Memorial Day to Labor Day as it always has been. Now, as people shift to hybrid work models or a full-time return to the office, we’re also anticipating a bigger spotlight to be thrown on New York City. It’s an exciting time for NYC and we are already seeing a dramatic uptick in sales from this time last year.
What are some of the ways buyers changed what they were looking for in their dream homes considering the mass uptick in the local population? Were there demands that you didn’t see coming? Trends that are now permanent?
Hara Kang: During the pandemic, as home really became the epicenter of daily life, most clients were looking for more outdoor and backyard space and extra room for indoor amenities like a private office and a fully equipped gym. We also experienced a sharp increase in demand for new construction. With the breakneck pace of the market, we were sold out of completely finished homes in the second quarter of last year and had multiple contracts for pre-construction projects. Buyers are willing to wait eight to 14 months for their new homes to be built. Right now, we have interviewed over 40 prospects for our new development projects in the village and the Northwest Woods of East Hampton.
How were your numbers for 2020 and 2021 YTD?
James Keogh: Despite its many challenges, last year proved to be a banner year for us. We’re incredibly proud to say that we were ranked Elliman’s #1 top performing team in the Hamptons and the #7 team in the entire company nationwide. We were also thrilled to have recently been named to RealTrends + Tom Ferry’s The Thousand List of 2021, recognizing the top one-tenth of one percent of more than 1.4 million licensed real estate professionals nationwide. We’ve set a new benchmark for what we want to achieve in 2021 and we are moving full steam ahead.
Congratulations, that’s amazing! Is it true that 99 percent of your business comes from referrals? Why do you think that is? And what is the other 1 percent from?
Hara Kang: Absolutely. Most of our business has come from recommendations and introductions from past clients. As most successful agents would agree, a sale doesn’t end at closing. It continues with the strong relationship you have with your clients – whether in assisting with rentals, home services, market updates, and so much more. If a client has a great experience, they are more likely to recommend their friends and family as well. We also have a strong bond with many Douglas Elliman agents from coast-to-coast and the collaboration between markets is really fantastic.
Of all of the power agencies in the Hamptons, why did you choose Elliman as your base?
Justin Agnello: Elliman’s powerful network is a major reason why we chose to call the firm home. The company has reach and access into the top luxury markets around the nation, and a unique, strategic alliance with London-based Knight Frank Residential, bringing exposure and connectivity on a global scale. This strength really sets Elliman apart from the rest, along with its excellent leadership and their commitment to supporting us with some of the best tech tools in the industry.
What advice would you give sellers right now?
Justin Agnello: Our biggest advice to sellers now is to plan ahead as market conditions are changing in every neighborhood. If you are looking to upgrade, downsize or even just change neighborhoods sometime in the future, you should consult with your agent sooner rather than later and discuss your best options.
What about buyers?
James Keogh: It’s no secret that supply is the lowest we’ve seen in years, leaving some buyers without a home for the summer. But there is light at the end of the tunnel. In the fall and winter, as summer rentals free up, we’ll likely see more homes come onto the sales market, opening lots of new opportunity.
What do you do for fun when you’re not selling luxury real estate?
Hara Kang: With a booming market, we haven’t had much free time recently, but when we do we are enjoying everything the Hamptons have to offer. We all live locally and this is our playground. You might catch us at the restaurants, golf courses, beaches, surfing, or paddle boarding. We’re really excited to check out some of the new venues, like the re-opening of East Hampton Point, and visit some of our favorite comforts like Hello Oma’s coffee and baked goods.
To learn more about Agnello, Keogh, and Kang, click here or email them at atlanticteam@elliman.com.
