'Meet the Agent' - Sue Frith - Rego Sotheby's International Realty
This month for ‘Meet the Agent’ we interview Sue Frith, Sales Associate, at Rego Sotheby’s International Realty. Sue discusses why she enjoys working at Rego Sotheby’s International Realty, favourite listings on the market currently and some excellent tips for house hunters to consider when looking for their dream home.
How long have you been a real estate agent? I received my license in February of last year, so I am coming up on my first year anniversary. Fortunately, I hit the ground running, I have been involved in several multi-million dollar negotiations, and I have two properties under contract and others in the wings.
Why do you like working for Rego Sotheby’s International Realty? Like anyone coming from a business background, I did my research when I decided to go into real estate. Without question, I feel that Rego Sotheby’s International Realty has the strongest platform on the island. We have a team of 31 highly experienced marketing and property management professionals, and our partners are always available to help with any situation. The affiliation with Sotheby’s International Realty is also very important. There is no better way to market a property available to International Purchasers than to tap into the power of Sotheby’s International Realty’s extensive network to reach the high net worth market. From online advertising, to social media, to high end periodicals, the amount of targeted exposure your property will receive is unmatched by any of our competitors. Finally, our company is fully committed to the real estate business and has made the investment in people and technology to deliver first class service. The latest example of this commitment is our new state of the art web site.
What is the favorite part of your job? Our homes are typically the largest investment we make in our lifetime so I enjoy bringing a former investment professional’s perspective to the process. I like to give buyers as much information as possible about a property I am showing because down the road they will want to know the last time it was updated, what the tank size is and the land tax. When I was looking, I was sometimes frustrated that this information wasn’t readily available. Yes of course you need to meet the buyer’s wish list and find them a home they love, but as a real estate professional, you also have to help them make a sound investment. On the listing side, pricing the property is critically important and again, the skills I acquired in the wealth management business are helpful. At the end of the day, the road to success is paved with hard work; however, it is satisfying if you have achieved your client’s goal and delivered a high level of service.
What is your favorite property on the market right now? Xanadu in Point Shares has almost an acre of picturesque waterfront with a floating dock just steps from the house. The moorings are well protected and though the views are beautiful, the property is still very private. The house needs updating, but it has approximately 3,000 square feet, a very large water tank, and plenty of parking space. Waterfront property in Point Shares doesn’t come up very often, particularly a lot this large. At a $2.5 million USD list price, I think Xanadu is the most exciting property on the market right now.
What property on the market right now, in your opinion, do you think is really good value? I think Seven Steps in Hamilton Parish is a good value. It’s in a nice neighborhood with an easy commute to Hamilton, it has ocean views, and the 3 bedroom 2 and a half bath house is in very good shape. In addition, it has a lovely pool and guest cottage. For under $2 million, I think Seven Steps is a great buy.
How do you see the Bermuda property market over the next 12 months? The Bermuda property market is heating up. The property I sold this Fall had been on the market for over 2 years, but over the summer the level of inquiries picked up. There are several factors driving this trend. First, the change in property law means that more PRCs are looking at purchasing a home. Second, there are more single family homes and condos available to international purchasers, so that sector is starting to pick up. Finally, there is pent up demand in the Bermudian market coming out of the recession. Throughout the recession, people still had babies and they still retired and looked to downsize, but they didn’t think it was a good time to buy or sell. Now that confidence is returning to the local economy, the pent up demand is driving increased activity and sales are up significantly.
What are your top 3 tips when looking a potential new home? 1) Think about your daily routine. Will the property provide aneasy commute? How do the traffic patterns work? The neighborhood you choose can have a significant impact on your quality of life.
2) Consider renovating. Bermuda houses can be quirky and it’s hard to find everything on your wish list. Renovation is the answer. It’s a difficult process but in the end you get the property you want and the opportunity to build more equity if you choose well.
3) Don’t be afraid to put in an offer well below list price. I know of many situations where a buyer put in an offer, which was rejected as it was below list price, but was ultimately accepted or negotiated. Sometimes just being the one to place the offer opens up a world of opportunities.
What do you think of propertyskipper.com (we promise not to edit!)? When I was looking for my house propertyskipper.com did not exist. I was jumping from site to site trying to make sure I didn’t miss anything. Propertyskipper.com is a huge step forward. All the listings are in one place, neatly presented, plus articles of interest to property buyers and sellers. The site is a great tool for buyers, sellers and industry professionals.
Tel: +1 441 333-7067