Waterfront Property in the Bahamas & Real Estate Expertise

I believe that I am safe in saying that Bahamian citizens may be the most traveled, per capita, of any country in the world. This is partly due to our small population and the fact that the Bahamas boasts the 33rd highest per capita income in the world and the highest in the Caribbean region at $27,394. By comparison this is just under the per capita income of South Korea and above New Zealand, the United Kingdom and Australia. The other contributing factor is the convenient location of the Bahamian Islands laying just 50 miles off the East coast of Florida. Bahamians think nothing of taking day trips and long weekends to Florida to shop and with direct connections to many East Coast cities including New York and direct flights to London, it is quite common to run into Bahamians on 5th Avenue or Trafalgar Square. Believe it or not I have, on many occasions, run into Bahamians that I know in New York, San Francisco and London, but also in out of the way places such as a native market in Delhi, India, the seaside town of Dinard in Brittany, France, on the Charles Bridge connecting to the old town in Prague, Czech Republic and would you believe in a very small airport in Siem Reap, Cambodia. As you can see I travel quite a bit myself.

Unlike citizens of many countries, Bahamians have needed a travel visa to go just about anywhere, except Great Britain and some of, but not all, Commonwealth countries. This has been a tremendous inconvenience. There is not only the expense of applying for a visa that may only entitle the holder to make a single trip, but also, many times having to appear personally at the nearest Embassy which could be in Florida, New York or Washington, DC.

Fortunately, this has now changed. Effective from May of this year Bahamian citizens no longer are required to carry a visa in their passports when traveling to any of the 24 Schengen countries which include: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, and Sweden.

Wow. I am so excited about this that I just want to jump on the next plane and fly somewhere. Who knows I may someday run into you in Rome, Paris or on Safari in South Africa.

For properties closer to home here in The Bahamas, but no less exotic, give me a call. Visit our web site at BahamasRealty.bs and/or contact me at lroberts@bahamasrealty.bs and let me “Guide You Home 2” properties in The Bahamas.

Posted By: Larry Roberts

The Bahamas Real Estate Association (BREA) is celebrating its 50th anniversary this year, but it was not until 1995 that persons who were in the business of selling, leasing or appraising real estate were required to have a real estate license. Members of BREA, from its inception, were required to abide by a strict code of ethics, maintain a separate escrow account and meet set academic standards, but you did not need to be a member of BREA to hang up a shingle and declare yourself a real estate agent in The Bahamas. This of course all changed with the Real Estate Broker’s and Salesman’s Act 1995.

It was not until February 2008 that the Bahamas Multiple Listing Service (MLS) was established. Prior to 2008 the majority of listings were “Open Listings.” In other words property owners would list their properties for sale with more than one agent. This many times resulted in a great deal of confusion with properties listed at different prices and owners having to deal with multiple agents. Without the security of a signed “Exclusive Listing” agents were reluctant to spend much time or money marketing these properties. The introduction of the Bahamas MLS and the requirement that all listings submitted to the MLS must be listed exclusively with one agent has been a win-win for everyone. Property owners now need only deal with an agent that they know and trust and the listing agents have the security of being able to actively and effectively market the property without being concerned that the property will be sold without their direct involvement. The added benefit is that we now have a database from which agents can easily prepare comparative market analysis reports which were not possible before the MLS.

The Bahamas MLS is proving to be a great success with over 130 members and more than 900 properties.

Visit our web site at BahamasRealty.bs and/or contact me at lroberts@bahamasreslty.bs and let me “Guide You Home 2” properties in The Bahamas.

Posted By: Larry Roberts