Sotheby’s International Realty power brokers Frank and Dawn Bodenchak have taken their knowledge of development and real estate and translated it into phenomenal brokerage results. The numbers speak for themselves — over the past year, they sold 20 properties in a market that hasn't been easy. More impressively, many of their listings sold in under four months and set records in their areas, including a recent $11.5MM+ north-of-the-highway transaction.
Social Life sat down with Frank and Dawn Bodenchak to find out what drives them to be so successful:
What unique experience do you bring to the table in dealing in the high-end market?
We are unlike any other brokerage team because we also own a design and development company focused on cutting-edge, high-design homes. I designed and built my first waterfront glass home 22 years ago and am currently designing and building three 12,000- to 14,000-square-foot custom homes. My wife, Dawn, and I act as a team and have a passion for design and ideas that uniquely benefit all our high-end clients.
What sort of benefits do you mean?
Frank Bodenchak: Most of our buyers hire us for our knowledge of land, construction, and design. It helps buyers evaluate land and house options and make more calculated, informed decisions. For developers, our knowledge of high-end customers and what is selling helps them optimize their product during design. For end-users, we often can tailor a house to their needs in cost-effective ways, making a house work for them when it might not have worked without our help.
Perhaps as important, we often know of land and housing inventory before anyone else does. Over the past several years, nine of our land sales have been deals that were not advertised on Realnet. Two of our latest house sales were designs of 12,000 to 14,000 square feet that never hit the market. And we are currently advising on a number of projects that are not currently advertised, but we know will come available over the next six months.
And then there is the connection to Sotheby’s International Realty, known for its exclusive high-end clientele.
Dawn Bodenchak: Most definitely. We are associated with two of the highest producing real estate offices in the country: Sotheby’s International Real Estate in Bridgehampton and Southampton. The information flow in our morning meetings — with an army of high-end Hamptons agents — is incredibly helpful in our ability to add unique value for our clients. Plus, the association with Sotheby’s auction house has been helpful in co-promoting high-end listings. And having 900 offices worldwide, all targeting high-end buyers, is something no other brokerage house can offer its listers.
You have also become intimately associated with selling Hamptons Designer Showhouses.
DB: Yes, we’ve been involved in five so far. We built and sold three ourselves, and we introduced the showhouse to two other developers whose homes we’ve listed. In August, we will be listing the 2018 Hampton Designer Showhouse, a 7,500-square-foot home on two acres with a tennis court, for $4,795,000.
How has that helped your practice?
DB: We’ve worked intimately with over 100 interior designers, refining our knowledge of high-end design. The exposure to so many different designers has uniquely enhanced our own design practice and our ability to service clients with ideas way beyond what a typical agent can offer.
Any other experience that makes you particularly suited to work with high-net-worth individuals?
FB: Both Dawn and I had worked in sales-related positions with high-net-worth clients for 15 years before moving to the Hamptons full time. As a top ranked managing director at Morgan Stanley, I was accustomed to dealing directly with over 100 chairmen, CEOs, and CFOs in the media and entertainment industries, and thousands of institutional investors. The experience and rolodex were priceless and continue to have a positive impact on our expanding Hamptons practice.
Dawn Bodenchak Licensed Salesperson sothebyhomes.com/hamptons/agents/dawn.bodenchack dawn.bodenchak@sothebyshomes.com 646.382.4055
Frank Bodenchak Licensed Salesperson sothebyhomes.com/hamptons/agents/frank.bodenchack frank.bodenchak@sothebyshomes.com 917.968.9020