The Tribune

The principals of a newly-launched Bahamian real estate firm say "inquiries have never been more robust" as high-end clients seek socially-distanced getaways amid the COVID-19 pandemic.

Richard Sawyer, managing partner at Bahamas Property Group (BPG), said: “Those who can afford to escape from other parts of the world are almost breaking down the door. In fact, the travel restrictions have created a pent up demand that we anticipate seeing the benefit of as we re-open.”

BPG's launch was timed to exploit this trend, taking both a short to medium-term view as well as seeking to exploit long-term demand from high net worth individuals wanting seclusion and privacy.

“The pandemic will eventually pass,” Mr Sawyer, a realtor with 30 years' luxury market experience, said. "But in the meantime The Bahamas has an opportunity to take advantage of this renewed attention to showcase its best assets to the world, revitalise our brand and create an enduring draw for all those who can afford to turn their dreams into reality.”

BPG is focused on high-end communities such as Lyford Cay, Old Fort Bay and Ocean Club Estates, as well as exclusive Family Island properties and the mid-range market. The company was launched in partnership with business executive Omar Chemaly, who has spent more than two decades in retail, tourism, home rental and sales, and property development.

“Even as the high-end luxury market has exploded as a result of the pandemic, the broader market has remained relatively steady,” Mr Chemaly said. “Of course, the challenges of COVID-19 created some level of disruption within the local market, but we feel that this is now poised to take off once again.

"Timing is everything and we want to be ahead of the curve. With our experience, and local and international contacts, we feel that BPG is perfectly placed to thrive in both markets.”

Mr Sawyer added: “We want to support and promote new agents, share our market knowledge and assist them in achieving success. We plan to change the standard commission splits between agent and company to generously favour the agent, who is truly the core of any real estate business.

"Seasoned agents will also flourish within our structure where the wealth of knowledge they bring to the table will be rewarded emboldening their long term career. Giving our agents a greater piece of the pie will, in our view, push their desire to achieve and increase productivity, making it a win-win formula for all.

"This is unprecedented in The Bahamas," Mr Sawyer continued. "I have been in the business a long time, and perhaps the most valuable lesson I’ve learned is that if you give an ambitious agent a path forward, a way to advance their career and encourage their entrepreneurial spirit, it results in a win-win situation for all.

“We are game changers in the industry, recognising that in this new atmosphere the old way of doing things is outdated. BPG is positioning itself to be on the cutting edge of the rapidly evolving real estate market in The Bahamas, and we feel we have all the tools to stay in the forefront.”