Bahamas Property Group expands amid robust sales after correctly predicting a property market surge on the horizon
NASSAU, BAHAMAS — Long before it was the popular view, one real estate group predicted that the pandemic-driven dark cloud overhanging the property market would soon produce a silver lining for anyone bold enough to take advantage.
In late 2020, some were anticipating the worst. But the principals of Bahamas Property Group (BPG) were heading in the opposite direction — launching a brand-new company, attracting talented agents and developing a game-changing new approach to sales just in time to capitalize on the luxury market surge they were sure was coming.
Seasoned realtor and BPG Managing Partner Richard Sawyer said: “It didn’t come without considerable risk, but there are no guarantees in life.
“You have to assess the facts, read the market and take a calculated risk if you want to reap rewards.”
The BPG team understood that while the Bahamas is always on the shortlist for those in search of year-round luxury outdoor living, the realities of a global pandemic actually intensified the draw of fresh air, tropical vistas and wide-open spaces, inducing wealthy buyers to place an unprecedented premium on less densely populated destinations like The Bahamas. International travel restrictions only fed this pent-up demand.
“Foreseeing the likely result of these circumstances and market forces, we took the bold path,” Sawyer said. “One year on, everybody is now on the bandwagon and the industry is riding the surge that we predicted, but back then, we were virtually alone.”
Thanks to this foresight, today BPG is a breakout success, boasting robust sales and impressive growth in both new and seasoned agents. The company is already purchasing a new building to expand its Nassau office, has successfully launched a new Harbour Island office and is in the process of opening offices on several other Family Islands.
BPG also stands out in the local market due to its unprecedented “agent-focused” approach, according to fellow Partner Omar Chemaly, who explained that the company decided to radically reform the standard industry practice on commission splits between agent and company, to generously favor the agent.
“We recognize that the agents — both those that are new and hungry and those that are seasoned and wise — are the real heart of any real estate business,” he said.
“Giving them a greater piece of the pie is both a recognition of this reality and an incentive to further drive them to productivity and success.
“We want to be game-changers in the industry and position BPG at the cutting edge of an evolving real estate market in the Bahamas.
“A big part of achieving this is the ability to build meaningful business connections. We emphasize to our agents that real engagement goes far beyond an email contact list. The art of relationship building is an area where we feel we have gained significant ground.”
The company, which specializes in high-end communities like Old Fort Bay, Lyford Cay and Ocean Club Estates as well as exclusive Family Island properties and the middle range broader market, sees more bright days ahead.
