We at Bahamas Realty are lighting a whole lot of candles on our anniversary cake this year – 70 of them – and we could not be prouder.
Looking back over our history, we realized that the lessons we learned from helping to grow The Bahamas helped us to grow as a company. We could stop and take pride in the fact that we were the first to recognize the power of the internet, the first real estate firm in The Bahamas to have a website, the first to post listings so potential buyers thousands of miles away could peek before they arrived to seek their dream home or property in The Bahamas.
But what we are most proud of is the ethical leadership for which Bahamas Realty stands. Our recently semi-retired chairman Larry Roberts, twice-elected president of the Bahamas Real Estate Association, along with the highly respected president and senior appraiser, Robin Brownrigg, fought hard to bring the Multiple Listing Service (MLS) to Bahamian real estate. They and others in the firm helped to make BREA a legislated entity with real teeth and authority, ensuring rigid regulations and standards and building trust in a foreign market for international buyers.
70 years is a long time and the journey is just beginning. Under the leadership of CEO, Donald Martinborough, longtime partner
Along the way
So while we were researching highlights, we came across lots of fun facts. Here’s one we want to share with you. A very long time ago when warehouses lined the wharf, sponging was still big business near Bay Street and the largest occasional cruise ship that called on Nassau held hundreds, not thousands, of passengers, there was a piece of land near a store called the Men’s Shop Limited not far from the old British Colonial Hotel (now BC Hilton).
The precursor to Bahamas Realty, Caribbean Management, negotiated a land lease for an ambitious project that would transform that end of the most famous street in The Bahamas. The 120-year lease was with Sir Cyril Black, MP Knight & Co.
As for Sir Cyril, well, that’s another story altogether and an interesting part of a Bahamian and British past.
Lessons from the past guide the future
If you are a buyer, consider this. There are a whole lot of folks who will reap some reward from your investment. From the lawyer to the insurance company, the bank or other lender, moving company, firms that will make any repairs or renovations will all hear a little more ca-ching in their cash registers because of your decision. So while you always want to show respect, don’t let shopping for a new home or an investment intimidate you. You are the star and the best relationship between buyer and agent is one where both feel comfortable in each other’s company. Try to establish common ground and the process of searching will be less stressful and more fun.
And the 2nd piece of advice – once invested, don’t panic if the market appears to be turning downward. Values fluctuate but real estate in The Bahamas has been the best form of investment long term as long as the country has been in existence. At Bahamas Realty, we remember when large lots in Lyford Cay sold for $25,000. Today, that same lot in the exclusive enclave on New Providence’s western coast would sell for well north of a million and even higher.