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COVID-19 (Coronavirus) Update March 20, 2020

COVID-19 (Coronavirus) Update March 20, 2020

As the threat of Coronavirus is felt globally, The Bahamas is joining other nations worldwide in attempting to limit the spread through enacting preventative measures throughout the island archipelago, including a temporary 11-day closure for all non-essential businesses and public gatherings.

Bahamas Realty has, since the company’s inception, been people-focused. Our foremost concern is the personal health and safety of our families, clients, and employees. We are also focused on keeping your real estate transaction moving forward.

These are extraordinary times and we are taking extraordinary measures to complete your real estate transaction in a safe and secure manner, including:

  • Using video conferencing platforms and other digital tools. Bahamas Realty’s agents will offer clients the option to conduct business digitally, no matter where they are at in the process.

  • Our administrative, marketing and support staff will continue to be on hand, working remotely to assist our agents with transactions, inquiries and marketing your properties to the world.

  • Our property management division is hard at work to keep our buildings safe and secure

  • The appraisal department continues to operate remotely

We are all feeling this disruption to our daily lives, and we encourage you to take advantage of this time with your families and to look for the silver linings.

We will continue to update you as the situation unfolds in The Bahamas and as it relates to any economic impacts, and we will continue to be your best resource for all of your real estate needs. We wish you and your family health and safety. We will weather this storm together. Donald Martinborough CEO, Broker Bahamas Realty Ltd.

Link: http://https://www.theguardian.com/lifeandstyle/2020/mar/17/silver-linings-how-to-stay-positive-during-the-coronavirus-crisis

 

Realtor Hails End To Sector's 'Private Club-Like Atmosphere'

Stuart Halbert black and white headshot

A ten-time Bahamas Realty top performer has praised the firm's former chairman for driving a solution that broke up "the private club-like atmosphere" in the industry to the benefit of all.

Stuart Halbert, who has attained that honour ten times in the last 18 years, said Larry Roberts' consistent advocacy for the Multiple Listing Service (MLS) has helped transform the real estate sector and create the platform for himself and other agents/brokers to thrive.

"It is an honour to be named number one in a dynamic company like Bahamas Realty for the 10th time in 20 years, but the real honours in real estate should go to Larry Roberts (now retired) who fought for so many years to introduce the MLS (Multiple Listing Service) that revolutionised the industry as a whole," Mr Halbert said.

"Before MLS, associates and brokers would battle for exclusives, keeping information about a listing from being publicly viewed easily... It was Roberts who, in effect, knew that the future of real estate in this country would be better served by breaking up the private club-like atmosphere of a few firms. He had to battle tooth and nail with some, but today no one would turn back the clock.

"So when I receive an award, I always think it is he who helped to make the current real estate environment in The Bahamas what it is, and who helped make Bahamas Realty one of the anchors of that environment."

The term "exclusive" in today's real estate language refers to the right to market, stage and host events, but does not limit who can receive information. The MLS allows all licensed realtors and firms to post residential or commercial inventory listings as quickly as they come in to one agent or broker, enabling the industry to share information and better match buyers and sellers.

Donnie Martinborough, Bahamas Realty's chief executive, echoed Mr Halbert's sentiments about the importance of a co-operative industry where co-broking - rather than hoarding - a listing is the accepted way of doing business.

"It is just like Stuart to turn the attention on someone else," he added. "We are all so proud of his accomplishments. Part of the secret of his success is hard work, but a large part is his humility. He probably did not mention that about 70 percent of all his transactions are clients he has worked with before who have come to trust him and won't look anywhere else."

Mr Halbert, also named top exclusive listing agent in 2019, said several factors are contributing to a buoyant Bahamian real estate market.

"We are experiencing an upswing in the world's largest economy, which sits 50 miles off the shore of The Bahamas," he explained. "Locally we are enjoying competitive bank rates with more liquidity in the market.

"Against that positive backdrop, the ability to market properties effectively with drone footage and Matterport tours is the best it has ever been. Despite the effects of Hurricane Dorian that devastated two islands severely, The Bahamas remains one of the most highly desirable places to live, work and play in the world."

Mr Halbert also credited Baha Mar and The Pointe developments for revitalising high-end residential leases and sales. He added that if there is any real estate segment needing further development it is commercial, and every level - from warehousing to Class A office space.

Link: http://www.tribune242.com/news/2020/feb/26/realtor-hails-end-to-sectors-private-club-like/

Stuart Halbert Sweeps 2019 Sales Awards

At Bahamas Realty’s 70th Anniversary Christmas Luncheon and Awards Banquet, Broker Stuart Halbert was the man of the hour, achieved the coveted award of The Top Producing Agent during the past year as well as the Top Exclusive Sales Agent. He also won the Most Improved Sales Agent Award, “In recognition of an agent who has achieved exceptional sales performance year over year.” “Winning any one of these awards is quite an achievement. Winning all three of them is exemplary,” said Bahamas Realty CEO Donnie Martinborough, who cited Stuart’s work ethic and commitment to excellent service for his clients.

A nineteen-year veteran, Halbert received his award at a company dinner at Luciano’s Restaurant where other awards were presented to Sonya Alvino for securing the highest number of exclusive listings and Brian Austin for the most rentals of all agents and brokers in the company.

For the first time, The Employee of the Year award, chosen from the salaried employees of the company was a tie going to Jillien Mortimer, Commercial Assistant, and for the second year in a row to accountant Krystal Antonas.

We're Hiring - Marketing & Administrative Assistant

Marketing & Administrative Assistant – Real Estate

Marketing & Administrative assistant needed for a top-ranking Real Estate company in Nassau. This role offers the opportunity for a broad range of marketing and administrative responsibilities providing support to the Marketing Department and the real estate office. This position requires creativity, social media and technology support, strong attention to detail, outstanding customer service skills and provides the chance to support a dedicated and enthusiastic group of professionals.

Application deadline: November 12, 2019.

Download the job description below

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Marketing & Admin Assistant Job Description

 

Larry Roberts Appointed Director of the Bahamas Property Fund (BPF)

Larry RobertsWe are pleased to announce that Larry Roberts, NAI Bahamas Realty Commercial consultant & broker, has been appointed Director of the Bahamas Property Fund (BPF). Congratulations Larry Roberts!

Mr. Roberts is a past president of The Bahamas Real Estate Association and a member of the Society of Industrial & Office Realtors (SIOR). Mr. Roberts recently retired as the CEO of Bahamas Realty Ltd./NAI Bahamas Realty Commercial and continues to specialize in the sale and lease of commercial property throughout the Bahamas at NAI Bahamas Realty Commercial.

Read more about the appointment here: https://bit.ly/2MTIbDV

NAI Bahamas Realty Commercial negotiates major lease of New Corporate Center.

Ground Breaking at Caves Corporate Center. L-R: Larry Roberts, Consultant/Director, Bahamas Realty; Toby Hayes, Development Mana

NASSAU, BAHAMAS – August 7, 2019 – NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty and a member of the world’s premier managed network of commercial real estate firms, announced today a lease at the new Caves Corporate Center making Ernst & Young (EY), the anchor tenant of the western 25,000 square foot office building

Caves Corporate Center is currently under construction by Mosko United Construction Company Limited on the corner of West Bay Street and Blake Road. Only the 7,000 sq. ft. ground floor remains available for rent, represented by NAI Bahamas Realty Commercial.

“We’re pleased to have had a hand in helping EY find a new location for their offices in the fast-growing Western district of New Providence,” said Donald Martinborough, CEO of NAI Bahamas Realty Commercial. “This is a great location for this prestigious firm.”

The office is one of two buildings being built next to Caves Village which houses numerous restaurants, shops, a fitness centre, childcare facilities, businesses and banking facilities. In addition to the many residential developments nearby, including the Caves Point and Caves Heights residences, Blake Road has seen an increase in commercial office development and has become the hub of medical services in the west.

“This lease is the latest of several recent major transactions we’ve represented in the Capital,” said Martinborough. “We’re seeing a trend of businesses seeking locations which suit their employee’s lifestyle and taking into consideration nearby amenities and services that appeal to their workforce when making the decision to move or expand. This trend mirrors what is happening globally and shows positive growth in the Bahamian business sector.”

Leading real estate firm: East Bay Street Commercial Bounces Back, Hottest Property on Island

houseNASSAU, BAHAMAS – 05/20/2019 – Bahamas Realty’s commercial division, NAI Bahamas Realty Commercial, announced today that it has been selected to represent the sale of an iconic East Bay Street office complex.

The property located at 23 East Bay St., known as Bydand House, is a functional office complex in a high-traffic, secure location. The prospect represents an attractive investment opportunity with consistent occupancy rates and good tenants.

“In the last few years and, in particular, the last few months we have seen more activity and commercial interest in the eastern district, and the Montagu area in particular, than we had seen for quite a while,” said Bahamas Realty CEO Donnie Martinborough, whose company has had a stately presence in the historic Bahamian building for more than 40 years. “Even we at Bahamas Realty are caught up in the exciting changes with our own office building on the market to sell while Montagu is enjoying a resurgence in commercial development.”

“As both tenants of the building, as well as being the leading commercial real estate firm on the island, we are in a unique position to broker the sale of Bydand House.” Said Martinborough. “We are confident that we will find the right buyer.”

The 1.46 Acre property is situated in an established business district in the Eastern District of New Providence and includes 6,484 SF of office space in the main building with two additional income producing annex buildings and more than ample room for building expansion.

The Montagu area is experiencing a dramatic lift in development. A 100-plus-year-old home has been renovated, transforming it into the wildly popular Wild Thyme restaurant. Almost directly next door, Harbour Bay Shopping Centre, home to Starbucks and Fresh Market, has become a destination shopping plaza, with the parking lot often packed to capacity.

In December the former UBS building, purchased by government, became home to the Securities Commission of The Bahamas, the Compliance Commission and the Data Commissioner among others, giving East Bay St. the pleasure of enjoying a commercial rebound.

While all the activity has been on the south side of the street to date, a new restaurant at the Nassau Harbour Club that has been under construction and under wraps for more than two years is expected to open soon, and renovation is also underway at the currently-closed Waterloo nightclub on East Bay St.

“We have never lost faith in the strength of the east,” said Martinborough. “And with all of the recent activity in the area we recognise this as a great opportunity for investors or businesses looking to expand in a growing market.”

Link: https://buildout.com/website/BydandHouse

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

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.

http://bit.ly/2CBIb1I

Matterport: The Future of Real Estate

It has long been known that photographs help sell a property; it is often the first glimpse of a space that people who are beginning the search for a home or commercial property will have. However, there is a new technology that is taking real estate listings to another level: Matterport. ...

Continue reading on LuxuryRealEstate.com or at The Nassau Guardian online.