Cody Vichinsky declines, when asked, to give advice to Donald Trump as the President attempts to sell his multimillion-dollar Caribbean estate. "He's in a league of his own," laughs the co-founder of Bespoke Real Estate, which deals in luxury properties primarily in the Hamptons. But Vichinsky is not above giving advice to folks with less experience.
In fact, he has built his business on being able to contribute in a meaningful way to a costly and often fraught transaction. "When you're dealing with someone where time is the most valuable commodity they have, you have to be precise. With precision comes real added value," Vichinsky tells CNBC.
In the three years since he and his brother Zachary launched what has become one of the country's premiere real estate companies — their portfolio is currently worth $1.2 billion, Vichinsky says, and Bespoke "cleared $400 million as a team last year" — they have learned that, as much as buyers appreciate transparency, empathy and discretion, market intelligence is also key.
Here, the broker digs into that market intelligence to identify the biggest mistakes people make when buying a high-end home.