back to archive'Meet the Agent' - Zoe Mulholland from Rego Sotheby's International Realty
This month for 'Meet the Agent' - we interview Zoe Mulholland, a Global Real Estate Advisor, from Rego Sotheby's International Realty. Zoe discusses where there is currently activity in the Bermuda property market, favourite listings that are currently available right now as well as providing some top tips for buyers and sellers in the current market environment.
Why do you like working for Rego Sotheby’s International Realty, and what’s your favourite part of your job? As the oldest established brokerage still in operation in Bermuda, the reputation that Rego Sotheby’s International Realty has solidified in the market is second to none. The wealth of knowledge available to me provides a welcome sense of security in knowing that I’m well equipped to deliver for my clients. Seasoned agents know every detail of this business; learning from them is invaluable. My favourite part of the job is two-fold – I love touring properties that are new to me. As a Bermudian, I love finding new places and spaces that have always been hidden away, until now. The second, and most rewarding, part of the job is handing over the keys to a new owner, knowing that I played a significant role in their next, exciting chapter.
Where are you seeing activity in the market at the moment? The current market is busy!! It’s no secret that supply is quite low compared to previous years, thus, residential sales are seeing bidding wars and record selling prices. My advice to new owners would be, if you love it, buy it, or it will be gone. There’s also a lot of activity in the tourism-based sector as well. With the new residences at The Loren at Elbow Beach, interest and subsequent purchases has been swift. With the amount of property showings and offers coming in, it’s evident that demand is high, for both local and international buyers.
What is your favourite property on the market right now? I’ll give you two, representing two very different price points and architectural styles – Dating back to 1901, but with more recent upgrades, “Elevado”, located on the North Shore in Pembroke, is a charming two-storey example of old-world Bermuda charm. It boasts five bedrooms and beautiful millwork throughout. Sitting on near under an acre, the sweeping ocean views and generous veranda invite you in to stay a while. It’s hard to believe this oasis of a property is under a five-minute commute to the hustle and bustle of Hamilton. CLICK HERE TO VIEW
“Te Koko”, a new and ultra-modern build, is nestled on the ultra-private Riddles Bay property. With access to over 60 acres of pristine nature reserve at your doorstep and poolside views of the sea and sunset, this home is the ultimate waterfront purchase. Boasting a home gym, a bar, walk-in closets, 2-car garage, four bedrooms, it is an entertainer’s dream bathed in light with over 6,500 sq.ft. of impeccable living space. CLICK HERE TO VIEW
How do you see the Bermuda property market over the next 12 months? I think you’ll see more and more people downsizing. In the current real estate climate, sellers are seeing higher closing prices, they’re motivated. Supply will go up. With more ex-pat workers expected on island, selling and downsizing will be an attractive option. There is also going to be a huge demand for rentals with several tourism properties coming back into operation. This will see an influx of guest workers coming to the island who will all need housing.
What are your top 3 tips for purchasers when looking for a new home?
- The most important tip – use a trusted agent! There are so many elements that go into a real estate transaction. Your preferred agent will guide you through every step so that there are no surprises. They may even have insight to a property coming to market but not yet listed that you could possibly miss out on.
- Financing. Are you pre-approved if you need a mortgage? Pre-approval is crucial in the current market. You don’t want to find your dream home and then lose it because you have yet to go through the pre-approval process. Timing is essential with any real estate transaction.
- Don’t be afraid to look at a house that does not fit your initial criteria. Houses have energy, they speak to you. Take the chance on something you may have overlooked, it just may be your dream home.
Do you have any tips for sellers preparing their home for sale? Boost your home’s curb appeal. This will be a potential buyer’s very first impression as they come for their first tour. Mow the lawn, add some plantings, power-wash, trim the hedges, enhance the facade with touched-up paint and improvements where necessary. You want someone to say, ‘Isn’t this charming”, before they’ve even walked in the door. Inside you want to make sure that the home is decluttered and depersonalized. You want potential buyers to envision it as their own. The home needs to photograph well to maximize interest – tastefully stage it with neutral tones if that is an option. Deep clean, clear countertops and make any necessary repairs and replacements. The slightest improvement can make a huge difference. Know your value! What is your house worth? This is where your trusted agent can help. They know comparable properties; they know the market.
To Contact Zoe Mulholland:
Email: zmulholland@regosir.com
Or Call: +1 (441) 537-7072
