'Meet the Agent' - Rachael Correia, Rego Sotheby's International Realty
This month for ‘Meet the Agent’ we interview Rachael Correia, a Commercial Associate at Rego Sotheby’s International Realty. Rachael discusses her outlook for the Bermuda commercial market in 2017, top tips if you are looking to rent a commercial space and her favorite property on the market - The Villas at the Loren.
How long have you been a real estate agent? May of 2016 as a Commercial Associate for Rego Sotheby’s International Realty “RSIR”.
Why do you like working for Rego Sotheby’s International Realty? RSIR provides many opportunities for growth within the company. I started out as an Office Administrator/ Receptionist and held that position for just over a year before receiving my license. I am presently a full time Commercial Associate and when needed I assist our Property Surveyor with valuations. I also enjoy working alongside a strong talented team of successful agents. Everyone is supportive and I learn something new about the industry every day!
What is the favorite part of your job? Meeting and developing long term relationships with clients. I really enjoy the challenge of finding the right location for their business. While I work with international and local office clients, I have an increasing number of Bermudian entrepreneurs looking to open Nail and Hair Salons, Indoor Activity Centers, Restaurants, Retail and Gyms.
What is your favorite Commercial property on the market? As I received my Bachelors of Science in Hospitality Management, hotel tourism properties/ developments grab my attention. Particularly the Villas at the Loren, neighboring Tucker’s Town in Hamilton Parish overlooking the South Shore and Harrington Sound. The site is still under construction with an expected soft opening in early 2017. It will consist of a luxury boutique hotel and 7 ensuite three bedroom villas. The two-storey villas have flawless contemporary interiors and are the definition of modern causal living with resort conveniences.
How do you see the Bermuda Commercial market over the next 12 months? I anticipate a positive turn in the commercial sector with the help of the America’s Cup in 2017. I believe rental spaces for Bermudian entrepreneurs will continue to be in high demand in the City of Hamilton and The Royal Naval Dockyard. I'm hopeful for a stronger commercial sector with positive news reported by Royal Gazette that there has been an increase in vacation air arrivals and new hotel developments in Bermuda for the first time in 30 years.
What are your top 3 tips when looking for potential commercial rental space?
1) Know what is permitted and befamiliar with Bermuda Government policies – make sure you understand what uses the property is permitted for and that there are no zoning regulations or laws that could adversely affect your business.
2) Have a business plan – this is an essential tool and key to the foundation of any business. It’s also commonly requested by many landlords to help make an informed decision for prospective tenants.
3) Be patient - location is key!
What do you think of propertyskipper.com (we promise not to edit!)? Going on Propertyskipper is part of my daily agenda - I look forward to viewing and staying current with what’s new on the market. It is user friendly, easy to navigate with helping you to narrow down your search. It is a great resource for the Bermuda real estate industry.
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