Co-exclusives

Leave "who you call" up to the agent that actually represents you- don't buy from any listing agent, because they've promised the seller to get them the "best possible price." There are numerous co listings because the agents out there are not strong enough to represent themselves as the best person for the job, and like NYC, consumers don't thing too highly of the real estate people out there, so have little loyalty. That it's specific to that area makes it pretty clear that there are reasons for the mistrust. Find yourself a good buyers agent and let them bring these sellers down to earth (because clearly, the listing agents aren't able to do that).

What can a buyers broker do - to bring sellers down to earth - that a buyer can't?

Some buyers can, many can't- armed with sold data, preforeclosure figures offered (which occasionally include houses close by in trouble), days on market, etc., it's often a clearer picture presented to sellers. Not always, but often enough. The agent representing the seller provides buyers with nothing, as they are obligated to do (and the buyer pays 1/2 of the fee for this non-effort on the listing agents behalf).

That is all fair – but shouldn’t the listing agent have done that in the first place when pricing the property? Or are you assuming that the listing agent encouraged unrealistic expectations to get the listing?

In your opinion, are places out east yet priced appropriately or is there still a big disconnect between seller expectations and the actual market price at which sales get done?

The Hamptons listings languish for inordinately long periods of time- co exclusives are more vulnerable, because neither agent is going to want to drop "the bomb" about price reductions to a seller. Add to that, that the agents are not making what they would on an exclusive, and you have the reason that co-exclusives don't exist in much of the country anymore- it's a poor strategy. The real estate agents should know that, but they clearly don't. Hamptons sellers call the shots as a rule; that only works in a market that requires little of the agent. Based on the fact that lis pendens reported (for June) are double what they were last June, the suggestion would be to either bid very aggressively with a full grip on what reality is (taking into account upcoming price declines), or wait this thing out. Obviously an opinion.
You will NOT be provided with reality from a co-listing agent who is taking orders from a Hamptons seller, ever. Why pay for that non-participation, as a buyer? The fee is in the list price.

I see in East Hampton alone still over 4000 listings for rentals..Anyone an idea how many are Actually being rented out this Summer ?/ How many homes in East Hampton in total anyway?

Im new to this scene so help me out Is there any connection between the Rental Value of a property and its Market Value ??