Joy Lusher Real Estate has come a long way in the more than 40 years since it was set up by its namesake.

The real estate agency, tucked away in an old Bermuda cottage off of Darrell's Wharf, was set up by Mrs. Joy Lusher a few years after she arrived in Bermuda from the UK, having first worked with Bermuda Realty.

It became a family business when her daughters - Sue and Liz - joined her, with Sue coming on board 17 years ago and Liz, two years later.

Then, a decade ago her daughters effectively took over the company that to this day bears their mother's name.

Recently another changing of the guard saw Sue Lusher buy out her sister's share of the business, making her sole owner. Despite this, little will change for clients looking to buy or sell their properties, said Ms Lusher.

Ms Lusher's decision to take over the running of the agency on her own followed her sister, Liz Lusher's decision to pursue "other avenues of personal interest" while retaining her licence and continuing to work on a part-time basis as a real estate agent.

Ms Liz Lusher said: "I have devoted the last 15 years solely to pursuing a career in real estate sales and rentals - the last ten of which (were) in co-ownership with my sister, Sue.

"After much soul searching, and with Sue's support, I recently made a decision to try to include time in my life to pursue other avenues also of personal interest to me.

"Although I no longer will be a co-owner of the company, I will, nevertheless, be retaining my real estate licence and hope to continue to serve my local clientele, friends and associates within the industry," she said.

Although now the boss, Ms Sue Lusher said she does not foresee any major changes to the way the business runs.

She will continue to pound the pavement seeking properties for sale and showing clients looking to buy, what is available.

Indeed, it is the day to day involvement with clients that she said she loves about the job.

Although Ms Lusher said some clients are looking to buy a property strictly as an investment, many are looking for a home.

"I love it. Apart from not being tied to a desk, I get involved on a personal level with my clients."

The agency currently has five other agents associated with it, and an office manager, Mi DeSilva, that Ms Lusher credits with keeping things running smoothly. The agents are Liz Lusher, who will now work part-time, as does Bea Williams. Donna Bennett handles rentals while Beth Gosling works predominately in the sales market.

Although Ms Lusher freely professes a love of "being out there selling", she told The Royal Gazette the real estate market is not currently the easiest one to do business in.

"The inventory is pretty low, we have to really go and knock on doors. There are people (wanting) to buy but there is not enough inventory," she said, adding that it was now "really difficult to find any property priced under $750,000."

However, Ms Lusher said there were "quite a few" houses available in the non-Bermuda market.

A house may be sold to a non-Bermudian, with the consent of the Minister of Labour, Home Affairs and Public Safety, if it has an annual rental value (ARV) greater than or equal to $126,000.

In the case of a condominium, properties in certain developments are available to non-Bermudians, again with the consent of the minister.

Despite the limitations of a market where little under a certain price is going up on the sales block, Ms Lusher said the business continued to do well.

"We are still doing well but we have to be a little more creative. We have to beat the bushes," Ms Lusher said, when speaking of a market which has become, as she said "extremely competitive", with her putting the number of licensed agents working on the Island at more than 200.

Ms Lusher said her plan to stay small was in keeping with her wish to stay on the "intimate side of real estate".

"I like to think of us as a real estate boutique. We do not want to be huge, but want to keep it the way it is."

Ms Lusher added that she thought the company would lose its 'hands on approach' if it expanded.

Although Ms Lusher said that there are times when representatives from different real estate agents may be showing the same property, she likes the challenge of being the sole agent.

"Sometimes it is beneficial to work on a sole basis but with some properties, especially those that are a tougher sell, the client may be better served to work with several agents to get wider market coverage."

She concluded: "I like the opportunities with a sole listing. I like handling (the transaction) from start to finish, writing up the advertisement, showing the property, putting together the sales contract...," she said, adding there was "less room for error if I handle it from start to finish".