Blog :: 2018

Realtor Fears Budget's Dampening Impacts

A Bahamian realtor fears the budget's tax changes will dampen interest in high-end real estate and have a lasting impact on the luxury second home market.

Monica Knowles, Bahamas Realty's top producer in 2016, who less than two years ago saw what she called "an exciting and encouraging renewed confidence in the Bahamian housing market", said she is now holding her breath while hoping that the government agrees to the Bahamas Real Estate Association's (BREA) transition requests.

Read the whole story on the Tribune news online.

Learn more about Monica

Bahamian Larry Roberts Awarded LeadingRE's Leadership Award

Larry Roberts, (R) & LeadingRE Chairman, Joe Horning

Larry Roberts, (R) & LeadingRE Chairman, Joe Horning

It took nearly five decades of hard work, a lifetime of achieving firsts and only a moment in time for the honour and hour of recognition when Larry Roberts was called to the stage to accept the Leading Real Estate Companies of The World prestigious Leadership Award, one of the highest international awards ever presented to a Bahamian real estate professional. Roberts received the Leading Real Estate Companies of the World (LeadingRE) Leadership Award at the organization’s annual conference at the Las Vegas Wynn earlier this month. Roberts, who spent almost 50 years at the helm of Bahamas Realty until he stepped down as President and CEO in October, becoming a consultant, was one of only two to receive the Leadership Award before an audience of 3,000 from 24 countries. He was also one of only four real estate professionals from outside the United States to be honoured in any category by his peers. “The Leadership Award, celebrating brokers whose leadership skills and achievements have drawn the attention and admiration of others, was presented to two deserving recipients this year, Larry Roberts, Bahamas Realty, Nassau, Bahamas, and Lennox Scott, John L. Scott Real Estate, Seattle, Washington,” said LeadingRE President Pam O’Connor, explaining that the awards “celebrated the achievements of those members who have performed at the very highest levels.”
Bahamas Realty CEO Donnie Martinborough said the company was “incredibly proud of Larry and could not find a more deserving candidate for such an honour.” He called Roberts’ achievements singular and impressive. “Long before the real estate industry in The Bahamas was regulated Larry saw the need for legislation that would regulate the industry, provide instruction for new entries, certify and licence those individuals and maintain standards of ethics as well as being a source for updates and a voice. He and his colleagues in the industry prevailed and in 1995 the Government of The Bahamas enacted the Real Estate Salesman & Licensing Act. Over the years, he would serve two separate terms as President of The Bahamas Rael Estate Association. He was equally committed to community service and served as President of the Rotary Club of South East Nassau. Rotary is the largest civic organization in The Bahamas. Martinborough recalled that Roberts was the first to computerize operations and to appreciate where the internet would take the industry, launching the industry’s first website in 1997.
“Larry always seemed to have an uncanny ability to see the future of business ahead of many of his peers, but gaining their support was not always a walk in the park. When Larry wanted The Bahamas to employ Multiple Listing Service (MLS), knowing it would help to even the playing field and make it easier for buyers and sellers, he met surprising resistance. Undaunted, he campaigned long and hard. And once again, Larry Roberts succeeded on behalf of the profession.” Real estate firms in The Bahamas adopted MLS in 2008. Bahamas Realty President Robin Brownrigg also spoke of the personal side of the industry pro. “Beyond all he did for the profession as a whole and beyond the gentlemanly way he conducted himself regardless of the size of the transaction, Larry Roberts was a one-on-one friend and advisor whose door was always open,” said Brownrigg, who has been his business partner for most of their working lives. “New recruits bombarded him with questions; senior agents and brokers sought his advice and he never hesitated to give of his time, knowledge and talent, even when serving on various civic boards including Safe Bahamas, The Princess Margaret Hospital Foundation, Nassau Tourism & Development Board and Downtown Nassau Partnership. He set an example for all around him.”

Bahamas Realty Ltd., which has been in operation since 1949, is an affiliate of the invitation-only network, Leading Real Estate Companies of the World® (LeadingRE), and Luxury Portfolio International®, the exclusive luxury marketing program of LeadingRE. It is also a member of NAI Global, the world’s largest network of independent commercial real estate brokerage firms.

LeadingRE Recognizes Top Performers With Annual Awards

Leading Real Estate Companies of the World® (LeadingRE) honored top-performing member firms and individuals earlier this month at the Wynn Las Vegas during its Annual Conference, the culmination of its Conference Week, which attracted an audience of 3,000 real estate professionals from 24 countries.

“Our Conference Week brings together professionals from the best residential real estate companies in the world to focus on global real estate trends and providing exceptional experiences to home buyers and sellers,” says Pam O’Connor, president and CEO of LeadingRE. “A highlight of the event is celebrating the achievements of those members who have performed at the very highest levels.”

The organization’s top honor, the Diamond Award, went to Allen Tate Company (Charlotte, N.C.) in recognition of outstanding performance and engagement in all of LeadingRE’s business programs. It is the eighth year Allen Tate Company has won the Diamond in the award’s 16-year history.

LeadingRE’s Lifetime Achievement Award, provided for just the third time in the network’s history, went to Larry Kendall of The Group Inc. Real Estate (Fort Collins, Colo.) for his impact on the personal and professional lives of the more than 50,000 real estate professionals who have adopted his Ninja Selling system.

The Leadership Award, celebrating brokers whose leadership skills and achievements have drawn the attention and admiration of others, was presented to two deserving recipients this year: Larry Roberts, Bahamas Realty Limited (Nassau, Bahamas) and Lennox Scott, John L. Scott Real Estate (Seattle, Wash.). The Customer Experience of the Year Award went to David Steele, Blanchard & Calhoun Real Estate (Augusta, Ga.), and the Referral of the Year was presented to Steve Wrenn, CRYE-LEIKE, Realtors of Atlanta, Inc. (Atlanta, Ga.) and Elaine Pardalos, Halstead Real Estate (New York, N.Y.).

Included in the top marketing awards were the Best Overall Website, presented to Chas Everitt International Property Group (Johannesburg, South Africa), and the Most Innovative Brokerage Award, given to London Properties, Ltd. (Fresno, Calif.). Most Innovative Office Design was presented to Haring Realty Inc. (Mansfield, Ohio) and PorchLight Real Estate Group (Denver, Colo.).

The Crown of Excellence referral awards were given in seven company size categories: Allen Tate Company (Charlotte, N.C.); Lyon Real Estate (Sacramento, Calif.); Beverly-Hanks & Associates (Asheville, N.C.); John Daugherty Realtors (Houston, Texas); Platinum Group, REALTORS (Colorado Springs, Colo.); Townsend Real Estate (Fayetteville, N.C.); and Tina Bilazarian, Inc., REALTORS (Shrewsbury, Mass.).

Earning the Million Dollar Award for Highest Valued Outgoing Closings was Houlihan Lawrence Real Estate (Rye Brook, N.Y.). The Global Alliance Award for Most Outgoing International Referral Closings was presented to The Keyes Company (Plantation, Fla.). Awarded for having the Top 5 Most Outgoing Closings, in order of volume, were: WEICHERT, REALTORS® (Morris Plains, N.J.); Long & Foster Real Estate Inc. (Chantilly, Va.); Howard Hanna Company (Pittsburgh, Pa.); Ebby Halliday Realtors (Dallas, Texas); and Allen Tate Company (Charlotte, N.C.).

Recognized with the Pinnacle Award for having the most outgoing revenue-generating referrals were: Long & Foster Real Estate Inc. (Chantilly, Va.); Lyon Real Estate (Sacramento, Calif.); Realty Austin (Austin, Texas); John Daugherty Realtors (Houston, Texas); WK Real Estate (Boulder, Colo.); Marx-Bensdorf Realtors (Memphis, Tenn.); and Farrell Smyth, Inc. (San Luis Obispo, Calif.).

The Service Recognition Award was presented to individuals who have demonstrated an extraordinary level of commitment to the LeadingRE community in a variety of areas. The top individual honor, the Hall of Fame Award, was presented to Eileen Cherny, Marx-Bensdorf Realtors (Memphis, Tenn.) and Catharine Pappas, Dickens Mitchener (Charlotte, N.C.). Presented with the Chairman’s Award were Mark Bardo, The Keyes Company (Plantation, Fla.) and Vicki Hamp, Long & Foster Real Estate Inc. (Chantilly, Va.).

Earning the President’s Service Award were Andrea Bowles, Blanchard & Calhoun Real Estate (Augusta, Ga.); Berry Everitt, Chas Everitt International Property Group (Johannesburg, South Africa); Tom Flanagan, The Group Inc. Real Estate (Fort Collins, Colo.); Michael Guthrie, Roy Wheeler Realty Co. (Charlottesville, Va.); Jeremy Hurst, IRG- International Realty Group Ltd. (George Town, Cayman Islands); Matthew Leone, Halstead Real Estate/Brown Harris Stevens (New York, N.Y.); Silvana Malpelli, Brown Harris Stevens (New York, N.Y.); Frank Morrice, Servmor Realty (Panama City, Panama); Kimberly Mullins, HUFF Realty (Cincinnati, Ohio); Ueli Schnorf, WETAG Consulting (Locarno, Switzerland); Pat Shea, Lyon Real Estate (Sacramento, Calif.); Andrew Smith, Peabody & Smith Realty, Inc. (Franconia, N.H.); Tammy Vlah, Watson Realty Corp. (Jacksonville, Fla.); and Merle Whitehead, Howard Hanna Company (New York Region).

LeadingRE’s next event is the 2018 ASEAN Immersion Conference, taking place May 8-10 in Kuala Lumpur, Malaysia.