Welcome to another episode of our serious SLG meetups by Super Luxury Group, where we connect with some of the most interesting players in the Luxury market. My name is Alvaro and today we'll be having with us a very special guest. His name is Jimmy Giugliano and he is a Luxury Real Estate Agent at Nest Seekers International in the Hamptons and Netflix Superstar at Million Dollar Beach House. In this conversation, we'll be talking about the latest market trends in the Hamptons as well as his interesting background to become so successful in such a competitive industry.
Jimmy will also be sharing some of his recent breaking record deals in the Hamptons, which were number one and number two highest sales in 2019, along with some of his current incredible listing. Definitely great insights for those looking to learn more about how to really make an impact in the real estate industry and dominate the game. Stay tuned and I hope you enjoy it. Jimmy my friend.
Hey, how are you? How are you? Thank you for having me. Of course, the pleasure is mine.
Good to see you. Yeah, it's been crazy up here. Literally. I mean, I literally just left the barber.
I jumped on with you and now I'm running to clients in like 15 minutes. It's insane. Good, that's your show. That's your movement.
You like it this way, right? Yeah, you got a real and deal when you can because the market out here is about eight months where most of the product gets moved between February 1st and the end of September and the October. So, you know, obviously right now we're nearing the end of the buying season. So we're obviously trying to close everything we possibly can before we hit winter.
Of course, and you definitely are doing it successfully. There's one quote that I like that you always mention, like Thomas Edison, which is that is no substitute for hard work. I always see that on you. You're always working 24 seven and results speak by themselves.
So very cool. No, no, definitely like in real scene in the Hamptons, you know, everybody always asks what's like your special sauce, right? They always want to know how are you so successful and how you're doing so many deals at such a young age. And I said, literally, you just got to outwork everybody else.
If you don't show up to work, you know, you see some of these people who come in to work from Monday to Friday from 10 o'clock to four o'clock and they think that people are just going to hand them listings. It just doesn't happen like that. So you try and obviously, you know, work and stay on top of everybody. And you know, you got to think you obviously got to be smart, but you got to really put the time and effort in.
You have a really cool background because when we were talking last time, you were telling me a little bit more about how you were actually Wall Street and then you started to get into the real estate. You've been in the Hamptons your whole life and you saw an opportunity there, right? Yeah, I mean, I always wanted to work in finance in the city, straight out of college, you know, I applied for a bunch of jobs. And then, you know, I realized really quickly that that's not what I wanted to do with my life.
So, you know, I came out here, my uncle was a builder. So I was always on job sites. And then after seeing, you know, a bunch of different opportunities, I started in the development side and then I also got the brokerage because I was like, I could also do, you know, simultaneously the brokerage. So I started the brokerage and then I started really taking off.
All of a sudden, I was shooting, you know, five million dollar deals to 10 million dollar deals. And then last year, I did the number one and number three biggest deals in the Hamptons. And that sort of cemented me on the map. Here it is.
Here it is. The certified five in the Compton. Yeah, that house is absolutely amazing. You know, the buyer just kept going up and up and, you know, it was 42 and a half million they were asking.
And we started off at 30, then 35 and 37. And we ended up at 40 million in the end. So it was, you ended up number one, right? Yeah, number one for 2019.
Wow. That's incredible. And you know, it's funny because I see some of the people here. They call you the Leo of the Hamptons.
I mean, I try, I try. But there are some big brokers out here that have been doing it for, you know, 30 years. And those are obviously my main competition out here. Very nice.
No, and I see that you more recently have also had some good sales. I mean, you got one right now, right? That 12 for June? Yeah, nine million.
Yeah, it was a great off market deal. I'm actually helping build the house for my clients for $10 million. So they'll be in for around 19 million. And they'll be where somewhere around 27 when it's complete.
Cool. And, you know, I mean, right now the market, it's pretty hot from what we can see. What are some of the trends that you're starting to see more often in the market of the Hamptons? You're seeing a lot of turnkey stuff.
The land, the renovations, those are still falling a little behind because obviously people want to just move in. They don't want construction workers coming in during these times. So you're seeing a lot of different opportunities and land trades and renovations. But the turnkey stuff is insane.
Right now there was a house on Summerfield that got listed for $7.25 million. It sold in the first two weeks at $10 at 48. It's just insane. It ended up going over almost a million dollars over asking.
So, you know, you're seeing like, you know, for good product, people are just going at it. And that's what's keeping the market insane because the inventory is so low and the buy pool is, you know, obviously huge. I mean, they have property, they have almost 40 showings and 10 offers. That's amazing.
I tell you, tell me because I see that you have also had really nice exclusive listing for 10 of Sposster currently like 23 million price range right here. What's going on? A lot of events too, right? Yeah, this house is insane.
It's 15,000 square feet, two acres in the best area of the estate section in the Hamptons. That's like when you read all the 20s and 30s and 40s and when they show you the Hamptons, this is what they're talking about. So, this is the best location. Oxpasture is one of the most iconic streets in the Hamptons.
And we actually have two billionaires going at it right now. So, we'll see. I'm hoping that we'll have it wrapped up by the end of next week. But we have one guy who's on the top 100 Forbes list flying out this week.
We have the other guy coming on Sunday who's very close to the top 100. And it's, you know, a great house. And, you know, these people are, you know, appreciating the product. And you got to see it's got an elevator.
It's got, it's even got an apartment above the garage for the help. It's got a full kitchen. It's got two bedrooms. I mean, it's insane.
No, the house is beautiful and it's unbelievable. I mean, every detail that it comes with, it's so unique. And I'm very happy to hear that, you know, there's huge demand because that's what we're starting to see more and more, you know, these super luxury homes that the man keeps going high and high. So, it's really cool.
And, you know, I mean, you now are also part of the newest Netflix show, the Million Dollar Beach House. How is that coming along? So, I mean, it's definitely helping, definitely helping business for sure. It's actually helped our builders a lot more than it's actually helped me.
You know, it definitely does help to get your product out there. But the builders are seeing people like 60 Union Street in Seikharburg, the captains house that we put on the TV show, the amount of phone calls asking who that builder was and what he built them a house. It's insane. So, the amount of, you know, exposure, I mean, millions and millions of people got to see it.
We were trending in the top 10 for like almost two weeks. You know, we were a big hit that obviously nobody, I'm not saying we didn't think it would be a successful show. But to be the number one unscripted show on Netflix for almost two weeks is insane. That's, wow, that's incredible.
You said it right there. On exposure that this brings into the market, it's incredible. So, very, very appealing, very incredible to see how the demand also is coming from those channels, you know, because nowadays marketing is so important and positioning yourself among, you know, top platforms such as Netflix. I mean, it even adds more value.
So, I can't wait to win. Yeah. And that is a priceless platform. You know, you're getting out in front of everyone.
And essentially, it's not really costing anything for us. So, you know, it's hard to put a price tag. And when I sit down with buyers and sellers and you're talking about marketing and all that kind of stuff, when I can bring that to the table, it really is separating me apart from the rest of the pack. Because 100%.
You know, there's just nobody else who can do that. And the exposure, like I was on the Wall Street Journal, you know, in the Wall Street Journal, I was on Fox Business. I was on Yahoo Finance. These platforms that, you know, normal brokers don't get to put their product and expose it to the world.
So, it's been really helpful so far. On what's been the hardest part? You know, there's always some haters. But, you know, the hardest part, I would say is just pretty much trying to stick to what I'm doing, right?
And putting my head down and focusing on the real estate. It's really easy to get distracted doing other things, like some of my co-stars. Right. That's true.
But listen, I think that right now, it's a great moment to keep pushing. I mean, definitely market is in a good position. So, you're doing phenomenal. Very happy to see that things are going well for you.
And, you know, I see some synergy going on between, you know, some of the other markets, like in Miami, we see a lot of the people from actually New York coming down, trying to, you know, either move to Hamptus to buy something there as an investment or, you know, relocate to the South. So, a lot of back and forth. So, I think that both markets really relate. You know exactly.
I mean, I'm seeing so many of my clients move down just for tax reasons down in Florida. I mean, New York City is, you know, not doing so well. And what the 4.5% extra tax rate plus, they probably will end up raising it. It's just forcing people away.
It's actually, it makes no sense to me why they, you know, want all these successful people, you know, all this tax revenue is going to disappear and they're going to have to make it up somewhere. So, you know, the Florida, the Hamptons, places like that are obviously desirable places for these, you know, big time businesses that can work remotely now. Totally. And we see that more and more.
And, you know, Jimmy, with everything that is going on, I mean, everybody has a different perception of what Luxury is it, you know, and I always like to ask this question. So, I would like to ask you what it looks like with you. Luxury, to me, is something that it's obviously very hard to explain. But in the luxury market in the Hamptons, it's about 15 million and up would be considered the luxury market.
And in the luxury market, you're getting the A plus locations, you're getting all the amenities, you're, you know, normally two minutes to the ocean. And those are the places where people right now are, you know, like you said, the luxury market was a little behind compared to the rest of the market. The three to 10 million was flying off the shelf. The 10 to 20, 20 to 30 was a little bit slower.
But now we're seeing that market heat up as well. So, you know, the market's just insane. And the luxury market itself is really taken off within the last 45 days. And they have this amazing platform here that Jimmy, any takeaways from everything that you've been doing so far, you know, successfully, what are some recommendations for those that are, you know, taking off in the real estate career, you know, some examples or some takeaways that you can share.
Well, just like me and you were talking about a property up here, potentially, we could work together on an in water mill. I would say networking is the most important thing agents don't do, especially with agents outside their network, right? So nobody, you can't really network with brokers in your own area. It doesn't help you.
They're competitors. But finding strategic partnerships with you, like in Florida or in the city or in LA, that really has, you know, blew up my business over the last six months. So I would say, you know, strategic partnerships would definitely be, you know, the top thing I would recommend to outside agents. Very nice.
And you know, I'm very glad that we actually got to connect and work together. So I look forward to seeing you in Miami or CU up north and to do some good business together. And, you know, Jimmy, when he comes to somebody looking to connect with you, where can they find you? The best is just type my name in Google by email jingxi at nesecres.com or my cell phone 631-456-3567.
Perfect. So well, I know you have to go. You have business to take care of. I was very excited.
I wish you all the best. I hope to see you soon. And thanks again for joining us. Thank you for having me.
See you soon. And thanks again for everybody tuning in today. We hope you enjoyed it. And remember, it's beautiful, success in life.
My name is Alvaro and I'll see you next time.