In August 2021, Bespoke Real Estate, a prominent luxury real estate firm based in Water Mill, New York, made headlines when it secured the exclusive rights to sell a stunning contemporary oceanfront home in Wainscott, a prestigious enclave of East Hampton. Founded in 2014 by brothers Cody and Zach Vichinsky, Bespoke has been revolutionizing the industry with its innovative approach and data-driven marketing strategies. The sale of the Wainscott property, which went into contract for an impressive $45 million, showcased not only Bespoke’s ability to find the right buyers but also their commitment to providing exceptional value to their clients by reducing the seller’s commission rate to an unprecedented 1%.
Bespoke Real Estate’s success in selling the Wainscott property can be attributed to their meticulous research and extensive database of potential buyers. By leveraging data-driven marketing and predictive analysis, the firm was able to identify individuals with a specific interest in modern homes, ensuring targeted outreach to potential buyers who would appreciate the unique features of the oceanfront residence. This tailored approach, combined with their expertise in luxury real estate, significantly expedited the sale process.
The Power of Exclusive Representation:
One of the key factors that set Bespoke Real Estate apart is their ability to secure exclusive representation of prestigious properties. The Wainscott home, with its iconic inverted triangle roof and a cameo appearance in HBO’s hit series Succession, garnered significant attention from affluent buyers seeking a slice of luxury in the Hamptons. Bespoke’s reputation and track record of successful sales further solidified their position as the go-to brokerage for exclusive properties in the region.
A Commission Rate Revolution:
While Bespoke’s success in selling the Wainscott property is impressive on its own, the firm’s decision to reduce the seller’s commission rate to just 1% adds another layer of disruption to their business model. In an industry where commission rates typically range from 2% to 3%, Bespoke’s move showcases their commitment to providing exceptional value to their clients. By offering a reduced commission rate, the firm demonstrates their willingness to adapt and challenge traditional norms, setting a new standard for luxury real estate transactions.
The Impact of Bespoke’s Approach:
Bespoke Real Estate’s innovative approach and commitment to excellence have not only propelled them to the forefront of the luxury real estate market but have also raised the bar for industry standards. Their data-driven marketing strategies, combined with exclusive representation and a reduced commission rate, have transformed the way high-end properties are bought and sold in the Hamptons.
The story of Bespoke Real Estate’s success in selling the Wainscott property exemplifies their dedication to delivering exceptional results for their clients. Founded by Cody and Zach Vichinsky, the firm’s data-driven marketing strategies and exclusive representation of prestigious properties have positioned them as trailblazers in the luxury real estate market. By reducing the seller’s commission rate to 1%, Bespoke has not only disrupted traditional business models but has also provided an unparalleled level of value to their clients. As Bespoke continues to innovate and redefine the industry, their impact on the luxury real estate market will undoubtedly be felt for years to come.