Your title is the long pole, not your price
The Bahamas is an unregistered land country: no state register of title, ownership proved by a chain of recorded deeds. On Eleuthera a great many parcels are family-held or generational, and a gap forty years back is found by the buyer’s attorney at exactly the moment it costs you the sale. If there is any question over how your title is held, start there, months before you think about listing.
Your agent must be licensed, and cannot take a net listing
Agents are licensed under the Real Estate (Brokers and Salesmen) Act 1995 and regulated by BREA. Commission is customarily 6% on developed property and 10% on vacant land, normally the seller’s. BREA prohibits net listings — where the agent keeps whatever they get above a figure you name. If anyone proposes one, that is your answer about them.
Half the conveyance VAT is customarily yours
BREA states the assessment as one half of the Government VAT to each side, so a seller customarily carries 5%. On a net sale you can end up carrying all 10%. It is a commercial term, not a legal one, so it is negotiable and belongs in the Agreement for Sale in writing.
If you are not Bahamian, plan the money out before the money in
Proceeds leaving the country run through Exchange Control. If the purchase holds Approved Investment Status, the Central Bank’s published position is that a non-resident may repatriate, on application, income derived from the sale and any rental income. If it was never registered, that is a conversation to have with your attorney early rather than at closing.
A booking history is an asset, and it is documentation
A house that has been let, and can show what it let for, is a different proposition to one that cannot. Buyers at the top of this market are frequently buying an operating property, and the ones who are will ask. Get that history into a form somebody can read.
If your house is already listed with a brokerage, we leave it alone.
Approaching another broker’s live listing is not something we do,
and on an island this size it would end the relationships this whole desk
runs on. Come back when the listing ends — or if your agent is good,
keep them.