Re: community collecting resale fees
From: Sharon Villines (sharonsharonvillines.com)
Date: Thu, 25 Oct 2018 15:45:03 -0700 (PDT)
On Oct 25, 2018, at 6:16 PM, Jerry Koch-Gonzalez <jerry [at] cohousing.com> 
wrote:
> 
> I'd like our community to collect 3% of sale price when units turn over if
> the community finds the buyer (meaning no outside realtor was hired by the
> seller). Since realtors usually get 6% that seems like a win-win for all.
> Reduces the condo fee increases over time.
> Any communities do something like this?

We don’t require it but a few years ago our Resales and Rental Pod formed to 
facilitate sales and they request  a donation. They build a waiting list of 
people who were oriented and that they know. The orientees come to pot lucks 
and workdays to get a taste of things so we often know them too. The Pod 
designed a standard flyer, printed “information cards”, and organized open 
houses. 

For sales they are involved with, which is almost all of them, the schedule is 
open house on Sunday, offers due by Wednesday, decisions by Friday. It doesn’t 
always go that smoothly but often does. With a list of people who are really 
interested and hovering, we know there will be at least some offers. One unit 
recently got 3 offers but the one they chose didn’t work out to they moved to 
the next one, which took a week or two longer.

A long way around to say that R&R has done and does do a lot of work so when 
they give the pitch about a contribution to our Special Projects Fund (Capital 
Improvements), it has brought good results. Contributions, I think, are closer 
to 1-2% of the sales price. Before that, some people had given voluntarily.

As a result, we actually have a Special Projects Fund. Don’t hold me to the 
number but we have had a lot of sales in the last 3-4 years and we have maybe 
$75,000 in it. For the first time we can think in terms of what we would like 
to develop, not just upgraded replacements from the Reserve Fund.

My personal rational for resale contributions is that the price of the unit is 
higher because the community puts so much energy into making the place 
attractive socially and physically that isn’t paid for in dues. AND perhaps 
even more importantly, when a household leaves we know we have a lot of work to 
do to help another family move in and to bring them up to speed. It takes a 
year of explaining and reminding and helping. The donation does help soften the 
pain of losing a household and bringing in a new one.

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




Results generated by Tiger Technologies Web hosting using MHonArc.