Cohousing-L Mailing List: Re: Resale & use of realtor(s)

[Chapel, Thomas (CDC/NCIPC/DOP) (tkc4]

We've been here since 1996 and about half the units have turned over at least 
once in the process.  For most of that we lucked out in that one of our most 
active cohousers was a realtor and so knew how to pitch cohousing.  Think he 
was involved on behalf of either the seller or the purchaser or both for 75%+ 
of our sales.  That helped a lot with ensuring the new owners were aware of 
cohousing.  We still didn't bat 1.000----probably 20% were ill-suited for life 
here, but not because they didn't know what they were getting into.

Our concern more recently has been ensuring that no one buys here with 
intention solely of renting it out. Or rather that we limit the number of such 
sales. We are in a hot neighborhood and constantly besieged with calls from 
investors wanting to buy our individual houses.   Not sure how to deal wth this 
issue--we have been discussing a limit on number of non-resident owned units. 
We have one now but since it's a neighbor from the larger neighborhood who is 
the landlord he's been very attentive to using the unit to attract renters who 
want a community like cohousing, so it's actually helped financial access a 
little.  But we might not be as lucky next time.  Like others, we do need to do 
more to keep a waiting list going  so when something becomes available we can 
get the word out to the right target market rapidly

Thomas J. [Tom] Chapel, MA, MBA
Guest Researcher
CDC/NCIPC/DOP
TChapel [at] cdc.gov

-----Original Message-----
From: Cohousing-L <cohousing-l-bounces+tchapel=cdc.gov [at] cohousing.org> On 
Behalf Of Chris Hansen
Sent: Monday, February 26, 2024 9:48 AM
To: cohousing-l [at] cohousing.org
Subject: Re: [C-L]_ Resale & use of realtor(s)

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Our experience has been that realtors rarely understand cohousing, and are 
focused on high $ sales.  On occasion sales can go through quickly, bypass coho 
expectations and result in residents who are patently unsuited to CoHousing.
Our priorities are our notification list, and the national cohousing site- 
between those two there are always plenty of potential buyers. There's a big 
housing crisis in our city (Burlington, Vermont) and we are in a prime 
location, so we always risk sales being made to the highest bidder looking for 
a sweet location We are also tightening our processes right now- Would you be 
kind enough to send through link to the session on resale?
Thanks!

On Mon, 26 Feb 2024 at 08:20, leslie brown <lesliecbrown100 [at] gmail.com>
wrote:

> We are exploring options for changes to our current Resale Agreement 
> now that our first resale is under contract. We are interested in 
> hearing more about use of realtors:
> - what led to using a realtor (when/why?)
> - is this a community decision or up to seller?
> - guidelines for realtor? Do you work with multiple agents?
> - concerns or successes?
> We have viewed the Coho Institute session on resale (helpful!) but 
> other insights are welcome :).
> (fyi we are a 19 unit multi-family condo in Richmond, VA) Many thanks, 
> Leslie Brown, Richmond Cohousing 
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--
Chris Hansen
32 East Village Drive
Burlington
Vermont 05401
USA

Ph 603 3988730
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