James Lane Post has partnered with Saunders & Associates to create the series “The Saunders Stewardship Impact,” which shines a light on the organizations that are close to the hearts of its agents. This is the fourth installment, featuring Saunders & Associates’ real estate broker, Ed Gaetjens.
The Hamptons is often defined by the scale of its homes and the stretch of its beaches, but for Ed Gaetjens, the area’s identity has always been about something more practical. While he has built a career in the local real estate market, his time is frequently divided between business and the community work that keeps the East End functioning. He is a familiar face at the Bridgehampton Library and can often be found at the hockey rink, where he spends hours coaching and mentoring young players. His involvement goes back years, including his time as a volunteer with the Bridgehampton Fire Department. Gaetjens approaches his work and his personal life with the idea that protecting a town requires more than just managing its property values. He views community engagement as a form of long-term investment. In his view, the future of the Hamptons depends on a balance between growth and the personal commitment people make to their neighbors and the local institutions that hold the place together.
The Stewardship Series is about spotlighting people helping shape the future of the Hamptons beyond business. What inspired your involvement with the Bridgehampton Library specifically?
I absolutely love the fact that in this fast-paced, all-out, see-and-be-seen community, the Bridgehampton Library provides a way to unwind, de-stress, and just breathe. The directors, employees, and volunteers provide a calm and relaxing setting that we desperately need to just unwind. “Fridays at Five,” which Saunders & Associates proudly and generously sponsors, is my favorite activity during the summer. Before the hectic weekend begins, being able to listen to world-renowned authors talk about their books is priceless. The library has featured Ina Garten, Kati Marton, James Patterson, Robert Caro, Alice McDermott, and Susan Isaacs, to name a few. This all takes place in the most gentile of settings, the garden behind the Library.
Local restaurants donate delicious food. A glass of wine is also available. Don’t miss it.
You’ve spent more than two decades selling and developing Hamptons real estate. How have you seen the character of both the market and the year-round community evolve during that time?
As a real estate investor and agent, I am constantly looking at the Hamptons GIS (Geographic Information System) maps. It’s remarkable the change in two decades in the density of buildings.
Farm fields have become developments, and vacant land in “the woods” has been transformed into estates.
Clearly, Covid brought a new wave of people Out East. Working from home has made Hamptons houses a choice for many people. Yet, my feeling is the Hamptons will never be a bedroom community like many suburbs in the metro area.
The East End is often viewed through the lens of luxury and exclusivity, but institutions like the Bridgehampton Library are really part of the cultural backbone of the East End. Why is it important to support those spaces?
The surest way to feel overwhelmed and unimportant is to join the “keeping up with the Joneses” crowd. It’s the Hamptons. Someone will always have more (many will have a lot more!) than you do.
Doing your part, whether it’s as a volunteer or a donor, brings you closer together as a part of this community.
What, in your view, separates responsible development from overdevelopment in the Hamptons today?
That’s an extremely hard question to answer. I will tell you that the bigger-is-better arms race is over. Building bigger without purpose has become passé. Builders now are looking more at the detail and innovation they can bring to a home than just the square footage.
Buyers demand more. Think smart homes, defined space, sustainable materials.
As someone involved in both luxury real estate and community service, what does stewardship personally mean to you?
Serving my community as a member of the Bridgehampton Fire Department fills me with pride. The camaraderie with my fellow members is so special to me. Everyone has been so accepting and kind to me. I try to serve the FD to the best of my ability.
At 63, I think more of an asset in the kitchen than on the firetruck!
My love of coaching ice hockey is something that sustains me and makes me grow daily. The time and commitment that you give to kids is a reward in itself. I’ve coached for over three decades. The proudest I can feel is when a 35-year-old with a wife and child greets me with “Hi Coach!” I absolutely feel like I am a steward in this community. So much beauty in this magical place. Driving to work out in the morning on Scuttle Hole Road, watching the sun rise in the east, you know that this is where you want to be.
There’s an increasing conversation around preserving the authenticity of the Hamptons amid rapid growth and record-breaking wealth entering the market. Do brokers and developers have a responsibility beyond simply closing deals?
Hamptons real estate is hypercompetitive. My background on Wall Street prepared me well for it. Yet, it’s different in many ways. So, as an agent, you can easily get caught up with “hey, if not me, someone else will sell it, list it, or develop it.”
I think that as agents, we can share our knowledge and expertise regarding what works in certain situations. The guidance we can have can have an impact on what is going to happen. Or, the developer will do as they wish within the setbacks and zoning rules for the property.
You’ve worked through multiple market cycles, including the massive post-pandemic boom. What feels most different about today’s Hamptons buyer compared to 10 or 20 years ago?
We have to remember that going into 2020, the Hamptons were oversupplied with homes. Listings languished for multiple months (others sat for years). It was estimated that over 3,500 homes were available going into 2020. The first talk of the pandemic shot rentals to the moon. Many can remember the stores overrun with people buying everything they could put in their shopping cart. Then the quiet period. Thoughts of sales vanished until the spring, and the dam broke. Years of inventory gobbled up in months. Prices flying to records.
For a good two to three years, this buyer was “let’s get out of the metro area.”
Now I feel a buyer is purchasing as a vacation home. A place for family and friends. Also, the use as a rental property is a must.
How important is trust in Hamptons real estate, especially in a close-knit community like this?
It’s all I have, my trust and my reputation. I will relentlessly work for my clients, but I’ll never do anything illegal or underhanded. I’d rather miss something than do anything wrong.
It’s a marathon for my clients and me. I want real relationships with them. And I want those to last beyond the transactions.
Are you seeing more interest from clients in becoming genuinely part of the community and supporting local causes?
I am seeing that daily. We have had new people joining the Bridgehampton Fire Department. People who want to serve a higher purpose. It’s great to see this investment in our community.
When you think about the future of the Hamptons 20 years from now — architecturally, environmentally, and culturally — what concerns you most, and what gives you hope?
I see a newer generation thinking more about sustainability than just grandeur when it comes to the homes they are buying and building. The environment Out East has some great stewards in the town’s conservation and environmental boards. The Peconic Land Trust and Southampton and East Hampton Towns Community Preservation Funds continually buy land to preserve for everyone.
I’m going to use a Wall Street term: I’m bullish on the Hamptons. We will always be a place where people from everywhere come to relax on our beautiful beaches, dine at our restaurants, stroll our charming Main Streets, gaze at world-class art in our galleries, and generally just be happy.
What are some of your favorite things about the East End that you love beyond the beach?
I love the East End year-round. As our community swells in the summer, I sometimes long for the shorter days filled with hockey coaching and hanging out with my firefighter buddies.
So many cool places to check out. Java Nation in Bridgehampton for coffee, Shippy’s in Southampton for great food and fun. Please check out Sun Life Organics in Sag Harbor for the best açaí bowl ever!
But there is nothing like a summer in the Hamptons. If you are reading this on the beach, you know what I’m talking about.
