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Is The Hamptons Market Philosophy "Bass Ackwards"?

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That's the impression that the founder of The Heddings Property Group is left with after his company starting selling in the area some six months ago. In a blog post reminiscent of Jerry Maguire's "state of the industry" memo (the one the got him fired), Douglas Heddings has taken East End agents and consumers to task, calling for a "shift in perspective" and calling the market "the most distrusting pool of buyers and sellers [he has] ever come across."

He goes on to explain what he perceives are the industry's biggest issues and then helpfully offers one-sentence solutions. Check out one such nugget of wisdom:

"PROBLEM: The 'collecting' of listings ? it seems common practice in the Hamptons for some agents to share a philosophy of just listing as much property as they possibly can at any cost with the hope of maybe selling some of it. SOLUTION: Consider doing sellers a service by pricing their properties accurately and actually selling them."

The Coup de grâce comes when he warns existing agencies to: "Embrace change or become a dinosaur." He may be a newcomer to the Hamptons, but he definitely seems to have the posturing swagger on lockdown.

Bluster and bravado aside, we have to ask: Are his complaints that far off the mark? Or is this just an example of the new guy trying to make a name for both himself and his company? Let us know in the comments.

· Hamptons Market Philosophy Is Bass Ackwards [True Gotham]
· Heddings Property Group