Whether you are interested in buying or selling real estate on Roatan your agent is your link to the real estate community. On Roatan all Realtors are now required to be members of CANABIRH (Honduras Realtor Association) to facilitate sales, those individuals who are serious about serving their clients should also be members of the RRA (Roatan Realtor Association) and NAR (National Association of Realtors). Those agents that are members of the RRA have the privilege of full access to the local MLS (Multiple Listing Service). This database is the most complete and up to date list of available properties in the Bay Islands.
If you are a property seller your best evaluation of an agent and broker is to know how they will advertise your property. Traditional print advertising is not as effective in this age of digital and social marketing, especially when trying to market properties to international clients. Agents must rely heavily on electronic media and web sites to market you property, some key questions to ask are:
- Is the listing agent a member in the RRA?
- This is crucial to get your property seen by prospective buyers that visit the MLS database.
- The RRA publishes an MLS magazine 2-3 times a year, your agent should include your listing in this publication.
- Does the agent/broker have a top ranked web sites with areas to post your property so it can be found by prospects?
- Do a Google search for the agent or broker to see their ranking on the web. A high position means a strong marketing effort for their clients.
- Can the agent provide Virtual Tours and quality photographs for your listing?
- Virtual Tours not only provide a prospect with great viewing of a property from their own computer but they also connect to a huge network of web sites that can introduce your property to potential buyers.
- How much experience does your agent have in the Real Estate field?
- Selling Real Estate involves more than just getting your property advertised. Your agent must be familiar with Honduran contracts and laws and have many sales and closings in Roatan to represent your property properly during negotiations.
- How long has your agent lived on the island?
- Since Roatan doesn’t have many street signs, but many different neighborhoods, developments and back roads an agent has to be familiar with the island.
If you are a buyer interested in investing in Roatan Real Estate and are searching for an agent many of the same qualifications apply for a “buyers agent”. Are they members of the RRA, do they have their own web site, are they experienced in real estate. Additionally it is important that you and your agent “click” does the agent listen and understand your requirements and show you properties that meet your criteria. No one wants to spend time looking at the wrong properties when you could be on the beach enjoying ocean!
If you have questions about property on Roatan or want to evaluate me as an agent for your needs send me an email, Philip@RoatanLiving.com and I will be glad to answer your questions.
Enjoy Life, Philip
With the world wide economy driving down Roatan Real Estate prices to a low point that hasn’t been seen in years, opportunities to buy real estate and move here at a low cost, abound. Also the cost of living here once you have settled in is low, so your nest egg goes much further.
The down turn in the global economy during the last two years had a predictable effect on Roatan Real Estate as it did on the world wide real estate market. Home prices are generally down 30-40% from their peak in 2007. This means great deals for buyers that have the foresight to see that Roatan is poised to grow substantially in the coming years into a vibrant destination.