Latest Issue November 2024 Strength Growth & Resilience of Belize

Vista Real Estate – Belize City, Belize

written by BVC November 26, 2024

Vista Real Estate

Expertise, Innovation, and Sustainable Vision

Trailblazing Belize’s property market—delivering expertise and opportunity while championing the protection of Belize’s natural heritage.

Vista Real Estate, founded in 2004 and based in Belize City, has grown over two decades to become a robust force in Belize’s property market. Established by Hugo Moguel, the company’s operations cover various property types, from land and residential properties to commercial rentals and island plots. With six agents and plans to double its team next year, Vista is poised to expand into new areas, already maintaining offices in Corozal and Belmopan.

Moguel emphasizes that his American training—a bachelor’s degree in business with a major in real estate and hands-on experience from Phoenix, Arizona—lends Vista a unique edge rare in Belize’s real estate sector. “I’m the only person in Belize who actually holds a degree in real estate,” he says. He explains that this foundational knowledge and experience in a large U.S. market have allowed him to structure Vista differently. Unlike the typical real estate brokerage, Vista operates more like a commercial real estate advisory firm. “We see ourselves as advisors to our clients,” he states, describing the company’s clientele, which spans first-time homeowners to major international corporations.

The structure and professionalism at Vista are further bolstered by a strong administrative backbone that handles complex, behind-the-scenes tasks crucial to smooth transactions. Moguel explains, “We have a big administrative side to our office,” adding that his team ensures properties are market-ready and manages the entire transaction process. This includes coordinating compliance with legal requirements, managing client schedules, working with attorneys, surveyors, and inspectors, and addressing title or financing issues. For Vista, these aren’t simply add-on services but are integral to delivering seamless transactions for local and international buyers.

Vista’s capacity to serve clients goes beyond administrative support. Moguel notes the value of their extensive in-house data collection, describing how the company meticulously records market information. “We have data compiled over the last 20 years, keeping notes and records,” he says, showing that this knowledge positions Vista to interpret current market trends and predict future movements accurately. The combination of data-backed insight, extensive experience, and a robust team, Moguel believes, makes Vista “unmatched” in its ability to provide clients with informed, forward-looking advice in Belize’s evolving property market.

Embracing Technology: A Catalyst for Growth

In a world where technology often dictates the pace of business success, Vista Real Estate has harnessed digital tools to enhance its client relationships and marketing strategy. Tech-based innovations have streamlined operations and expanded its reach and influence across multiple platforms for a firm devoted to staying competitive in Belize’s real estate market.

“The major technological advantage we acquired was a CRM system specifically designed for real estate,” Moguel explains. Several years back, he envisioned a website that would double as a client management tool, but cost constraints made that impractical. “Suddenly, there was a CRM on the market, so I made the investment.” Vista saw immediate benefits after customizing the platform to fit Belize’s real estate landscape. According to Moguel, the system provided deep insight into operations, giving clarity on numbers, trends, and growth paths that had previously been out of reach.

Social media has also been transformative for Vista, opening new channels for visibility and client engagement. “We probably have the largest following when it comes to Facebook and Instagram,” Moguel says, adding that Vista is also active on LinkedIn, TikTok, and YouTube. The strategy includes contracting a photographer and videographer to create consistent, branded content. “People recognize the signs; they know the name and the brand,” he notes, indicating that social media has created a direct line between Vista and prospective clients, allowing real-time inquiries and interaction.

Supporting Economic Growth Through Real Estate

Over the past two decades, Vista Real Estate has grown from a local brokerage to a multi-service powerhouse, contributing to the Belizean economy in ways that extend beyond property sales. Initially focused on serving Belizeans, Vista gradually identified gaps in the market, particularly a lack of trained guidance for real estate transactions. As Moguel describes it, “What was missing here was trained, experienced guidance when it comes to real estate.” This initial goal has evolved into a broad spectrum of services, including appraisals, valuations, and consultancy roles that support larger-scale developments.

“We’re not just tossing properties up on a website,” Moguel asserts. Instead, Vista carefully curates potential buyers for properties, providing them with insights into the value and potential of each area. By doing so, they create long-term relationships, guiding investors through Belize’s real estate market with an eye toward sustainable growth. For Moguel, there is satisfaction in seeing investors return. “When you look back at our impact over the last 20 years…the investors we encouraged to take that big step, it’s incredible to see them come back and ask, ‘What else do you have?’”

The Belizean real estate market has expanded dramatically, with Moguel estimating that it has doubled in size, especially in high-demand areas like Ambergris Caye and Placencia. While these regions attract premium investments, Vista has strategically highlighted emerging locations—along the Hummingbird Highway or within the Belize River Valley—that offer accessibility, infrastructure, and favorable pricing. “People are finding value in the type of product that we’re bringing to the market,” Moguel explains, adding that these emerging areas offer affordability and quality, making them increasingly attractive to buyers.

While offering these options, the company acknowledges that the profile of investors shifts depending on the region. Moguel notes, “Belize City is still largely a local market,” with 60-70% of its real estate transactions coming from local investors. By contrast, other parts of Belize, particularly those with tourist appeal, see approximately 80% of transactions from international buyers. Financing challenges in Belize—where interest rates are higher and options are more limited than in the United States—mean that local buyers often rely on cash purchases. Meanwhile, international demand has surged, especially after the COVID-19 pandemic, with many Americans looking to Belize as a “Plan B” destination. The pandemic brought an influx of foreign buyers who sought refuge in Belize, staying in vacation homes or condos to ride out lockdowns, an experience that Moguel says has driven a wave of interest in longer-term property investment.

Building a Culture of Excellence and Growth

At Vista Real Estate, talent is carefully curated. The team currently comprises 19 individuals, including agents who operate on a commission basis. Moguel makes it clear that Vista sets high standards for those who join. “We’re highly selective in terms of who we accept as agents. We want people who bring experience and know-how from related fields,” he explains, noting that ethics and professionalism are non-negotiable. For Moguel, these values are essential, given that agents represent the Vista brand and are tasked with safeguarding client trust in a field that demands confidentiality and accountability.

Professional development is at the core of Vista’s employee experience. “We have compliance training twice a year,” Moguel says. Regular weekly meetings ensure that the team remains aligned on active transactions, while membership in the Leading Real Estate Companies of the World and the Latin American Confederation of Real Estate Associations expands learning opportunities internationally. Through these affiliations, Vista’s agents connect with top brokers globally, gaining insights that Moguel believes are invaluable. “There’s an annual conference where we get to sit with the top 5% of every major market in the world,” he says. For the Vista team, these events represent networking opportunities and a chance to stay current on best practices and emerging industry trends.

Work-life balance and job satisfaction are also integral to Vista’s strategy. Moguel acknowledges the challenge of time management, especially in real estate, where demands can vary greatly. “The biggest challenge is managing time and prioritizing tasks,” he explains. “There’s no magic formula, but we guide agents through different stages of their careers to help them achieve success without sacrificing family time.” Vista’s structure includes flexibility, with agents free to handle calls from home if needed and the office closed on weekends to respect personal time.

Health and well-being are equally prioritized. Vista is implementing an insurance program to offer health coverage to agents and staff, a benefit Moguel feels is essential. Beyond the formal perks, Vista’s team operates as a cohesive unit with a collaborative spirit. “It’s really a team vibe with us,” Moguel shares, noting that this synergy is a product of stringent hiring practices and the trust clients place in them.

A Vision for Sustainability

Vista Real Estate is on an ambitious growth trajectory, driven by a vision beyond traditional property sales. Moguel reveals plans to diversify through specialized consultancy, property management, and development services, establishing new companies that will operate in close association with Vista. “We’re growing in different avenues of service,” he says, outlining expansions into emerging markets, particularly in Belize’s southern regions and island territories. For him, these ventures will broaden Vista’s reach but also ensure that the company can play an integral role in shaping the future of Belize’s real estate sector.

Moguel believes sustainability must be an intrinsic part of Belize’s development conversation. “There’s a recognition now of the value of real estate brokers and developers in environmental and sustainability discussions,” he remarks. He praises Belize’s longstanding environmental protection efforts, highlighting how the country is preserving its natural assets. Increasingly, Vista is called upon to participate in discussions with environmental and governmental bodies, offering the business perspective that Moguel feels is essential to balanced growth. “We can mitigate a lot of the impacts,” he explains, noting that Vista is setting a trend toward more responsible, environmentally mindful development across Belize.

One of Vista’s proudest contributions has been its involvement in conserving Belize’s natural heritage. “We helped secure over 50,000 acres in the Central Belize Wildlife Corridor,” Moguel shares, noting that Vista acted as consultants and brokers for the acquisition. For him, this achievement represents a critical step toward safeguarding Belize’s unique ecosystems while supporting smart, sustainable development. With Vista guiding these efforts, Moguel expects the company will strike a balance between progress and preservation, helping Belize cultivate a future where economic growth and environmental stewardship go hand in hand.