While watching an episode of Caribbean Life on HGTV (Home and Garden Television) hosted by our very own Cherita O’Dell recently, highlighting available property opportunities on Barbados, it struck me as one of the areas that really needs much greater attention to attract increased foreign exchange.
According to available data, over 96 million households in the USA have access to HGTV and in 2016 the network overtook CNN to become the third most-watched cable channel in the United States.
While our larger real estate agents appear to have found their place in the marketplace, both locally and internationally, there are dozens if not scores of smaller agencies, that appear to operate in isolation and seeming lack of collective direction.
Whether this is down to individual egos or the sheer inability or fear of working co-operatively as a group to maximize reach, awareness and share costs?
Recalling the very many promotional trips I personally took overseas, the primary concentration was never about our small hotel, but showcasing the destination. At the end of the day, it is the customer who makes the informed decision, based on preferred likes and budget.
What is to stop around ten of the more creative smaller real estate agents producing a weekly video, showcasing our vast range of possible second or retirement homes?
This could be aired via YouTube and any number of social media channels.
Of course the same video could display all the contact details of each partner agent, with websites to secure more information.
Despite current foreign exchange rates in some key markets, there still are comparative ‘bargains’ when you take into account certain locations within the United Kingdom and the added warm weather benefits that a tropical location could help to reduce a long British winter.
Add the possibility of reducing investment costs by offering home rental letting and it’s already beginning to make justifiable economic sense.
The British equivalent to HGTV in the United Kingdom could well be the very popular series produced by Channel 4 TV, A place in the Sun.
They go that extra mile by including a simple click on link to available properties for sale on Barbados and at last website viewing, listed over 800 possibilities.
Is there a way that our national marketing agency could build on these linkages?
Naturally every second home owner becomes a potential long stay visitor and almost certainly introduces family members who could conceivably return, year after year.
Not for a second, am I ignoring the vast choice of online real estate find portals like RightMove, On the Market, Prime Location and Zoopla, but if there is another dimension, could we be missing out on a lost opportunity?
Surely we have a duty to explore?
Also, is there any way our local banks can become more proactive in offering overseas clients, mortgage facilities? After all, surely any perceived risk by the lender is based on the value of the property and the ability to service debt payments?
It seems to BU that as General Elections draw closer, issues are being raised which appear to be consuming national interest. Whether it is the BS&T merger, the 50 Chinese who were found to be working illegally but given retroactive permission to remain in Barbados, or the latest issue of the Williams brothers Bizzy and Sir Charles’ attempt to take over Barbados Farms Ltd. The enormity of the transaction can be gauged after the realization that the total land area controlled by Barbados Farms is 4000 acres; in the context of Barbados we are talking 6.25 square miles. To assess the implication for Barbados of this transaction, we have to factor the lands already owned by Sir Cow which is estimated to be the equivalent to St. Philip and St. John combined.
BU admit that while investigating our yesterday’s story it has been an eye opener. Often when we think of our system of justice we think of Law Courts and the police. The truth is there are many other groups that play a significant role to ensure that justice is delivered. Over past weeks BU have joined with 
Whew! Over here at BU we cannot but admire the tenacity which 
has risen to nearly 24%. Now does this smell like a merger? BS&T really has no choice but to go along with this transaction or face a hostile take over. A check of the Trinidad controlled Sagicor Insurance Company shows that it too has a significant holding in BS&T. It does not take rocket science to deduce that Neal & Massy has the means to support a hostile bid. BU does not intend to focus on the transaction of the take-over because market forces must be allowed to dictate whether the transaction will close or not. However the current public debate must be heard and place in proper perspective. The wholesale acquisition of choice Barbadian properties cannot continue unchecked or we risk being denationalized and “de-culturized”.
