Company News

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.

American UHNWI Prefer to Own Vacation Homes in Mexico, Bahamas, UK, France, and the Caribbean

Ultra high net worth (UHNW) clients in the U.S. tend to own multiple houses overseas, with North and South America the most popular locations for their foreign properties, according to a study of proprietary data by AIG Private Client Group, a division of the member companies of American International Group.

The study’s findings shown here helped the company develop a new multinational property coverage that serves U.S. UHNW clients with considerable overseas assets.

Perennial BRL Top Producer Silvina M. Andrews Stars In One Cable Beach Sales

Bahamas Realty’s perennial Top Producer Silvina M. Andrews, Broker, CRS, BRI, has chalked up five sales in as many months at One Cable Beach (OCB). The luxury condo development is under construction, reaching for the stars alongside one of the Bahamas’ most beautiful beaches. Completion is set for Spring, 2017. “This success was partly due to colleagues in my own company that trust me with their clients. Working with Matthew Marco at OCB is a treat. He is engaged and ‘here’ 24/7. We’ve exchanged many phone calls and emails during very late hours in order to communicate with European clients.” Mrs. Andrews reports. “Clients are thrilled and feel the special treatment. In general, it’s been a very good year working with international clients. I have also worked with many Bahamians who’ve been focused on securing their real estate investment despite these ‘hard times’.” Mrs. Andrews and Mr. Marco are featured at One Cable Beach in the December “Bahamas Realty Now” show airing in December on ZNS Cable 11 and JCN Cable 14, as well as on The Bahamas Realty You Tube Channel. Noted for “Working smarter, not harder,” the veteran realtor recently organized an innovative reception for Bahamas Realty agents and their clients to view the future of luxury real estate in Nassau and Paradise Island. Guests were able to discuss the new developments with agents and developers, plus loan and wealth management officers from The Royal Bank of Canada.

“I don’t feel like I specialize in any particular area but rather I like to focus on quality listings regardless of the price. It’s important to me to have a relationship with my buyers and sellers and I don’t like to spread myself thin.” Mrs. Andrews is a member of Bahamas Realty’s hardworking Sales Leaders Team which acts as a vital link between management and agents, resulting in higher productivity and sales. “I also am proud to be a mentor for two incredible ladies who joined our team somewhat recently. I have watched Ana Wassitsch and Sonya Alvino grow as confident and very successful agents in a short time.” Named three times as the Top Producing Agent for her company, Mrs. Andrews was especially pleased to see one of her protegees, Sonya, named as Top Producer for Exclusive Listings at the most recent BRL Awards luncheon. “Most important is that I’m happy in my environment. Bahamas Realty has a very cohesive team. Our appraisal, commercial and sales departments work very closely to help each other out. We have a very ‘sharing’ culture in our office and all the agents tend to have a turn being the Superstar on the team.”

She explains how to succeed, even in tough times, without appearing to be overworked or even stressed out. “Purchasing a home should be fun and exciting. I try very hard to take on the stress so the client doesn't have to. “Real Estate is a service industry and clients will remember the entire experience. So I take the time to step out of the box and make their experience memorable,” she says...quietly. When Mrs. Andrews does speak, the whole room leans forward to listen, whether she is speaking fluent English or Spanish. (Born and raised in Buenos Aires, Argentina, she grew up in Canada, where she completed her education before moving to Nassau at age 22.) She uses her multi-cultural background to ease transitions for her cosmopolitan mixture of clients. She adds, “During these difficult times it has been difficult for buyers to find financing. I've had a couple of experiences even in the luxury market where financing fell through time and time again but, thankfully, I have built some relationships during my time in this business. With the clients' trust, we managed to make it work.” “Silvina’s wit, easy going nature, intelligence and professionalism all appeal to high worth clients who value personal service and privacy. Her fluency in both Spanish and English, plus travel experience in many cultures, are great assets for international clients whether relocating to The Bahamas or searching for investment properties,” says Bahamas Realty CEO W. Larry Roberts, SIOR, CIPS, CRS, e-PRO, RECS. With the quiet voice of reason, Silvina offers clients and colleagues a wealth of experience with the international market and a comprehensive understanding of relocation needs, family dynamics and cultural diversity. Her expertise has now gone live in an interview by Wells Fargo for her insights on buying a second home in The Caribbean. Check it out: https://conversations.wfmagazines.com/article/caribbeanhomepurchase_process

Leading Real Estate Companies of The World Announces

Leading RE announces $351 billion in transactions in 2015 Leading Real Estate Companies of the World outpacing closest competitor by $86 billion.

Key Takeaways

  • Leading Real Estate Companies of the World announced more than one million transactions valued at $351 billion in 2015.

  • Leading Real Estate outsold all other networks in home sales by 48 percent.

  • The real estate company affiliates had 27 percent of total sales among top 500 firms.

http://bit.ly/1RX8CPg

Luxury Portfolio 2015 White Paper: The Emerging Class of Global Affluent

2015: A Year of Growth As we enter 2015, we have the wind at our backs: the percentage of affluent and wealthy who are optimistic about their own future has continued to rise, reaching 38% in Q3 2014—roughly three times the percentage who say conditions are getting worse. Read more in this interesting article.

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