A bit of clout for condo sales
But why did it take so long to make brokerage change?
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“But the hiring of Coldwell Banker Roth Wehrly Graber as the condo project’s real estate brokerage is troubling precisely because it was so sensible. With sales languishing – I first reported problems four months ago – why did it take until now for supposedly savvy people to do something as obvious as including the condos on real estate Multiple Listing Services, exposing the project to a wider audience and giving thousands of Realtors an incentive to sell the condos by qualifying for a commission?

It’s true that the Fort Wayne Area Association of Realtors didn’t allow MLS listings for projects on which work has not yet begun until Roth Wehrly requested it. But Karan Flick, the association’s CEO, said the condos’ previous broker, Martin Goldstine Knapke, never requested the change, which Flick said was approved this week “to promote the community.” Martin is a Fort Wayne company known mostly for commercial and industrial real estate; Roth Wehrly handles mostly residential projects – which, of course, condos are.”

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“Leatherman may have unwittingly illustrated the marketers’ dilemma when he pointed out how the condos’ MLS listings will more effectively reach “people coming into Fort Wayne from other cities where they have seen projects like this.”

In other words, it is not unusual in many other places to pay a lot of money for a relatively small townhouse or condo nestled between shops, restaurants and athletic facilities. The bustle and commotion is an accepted – even anticipated – way of life.

But not yet in Fort Wayne, apparently, despite the city’s much-touted studies purporting to show a pent-up demand for downtown housing.

And even though Irwin said plenty of interest has been expressed in the project’s commercial space, Leatherman noted uncertainty over a construction date cannot help but complicate negotiations with would-be tenants.”