SCOPE_OF_SERVICES.docx

SCOPE OF SERVICES

REAL ESTATE BROKER SERVICES FOR MULTIPLE AFFORDABLE HOMEOWNERSHIP STRUCTURES LOCATED ON GRAND AVENUE (3 HOMEOWNERSHIP STRUCTURES)

1. Purpose The City is soliciting proposals from qualified Real Estate Brokers to provide comprehensive marketing and sales services for multiple affordable homeownership units developed or managed through City-sponsored housing initiatives. Services must be provided directly by the Broker and may not be delegated to an agent or representative. The Broker must demonstrate the capacity and experience necessary to support timely unit sales and compliance with applicable affordability and eligibility requirements.

2. Project Expectations The selected Broker shall support the City’s goal of achieving rapid occupancy of affordable homeownership units. The City expects that units will be pre-sold and occupied within 30 to 60 days of construction completion. The Broker must be knowledgeable of local, state, and federal requirements related to affordability, income eligibility, income verification, and homeownership program compliance.

3. Scope of Work The Broker shall provide the following services, including but not limited to:

A. Marketing and Listing

· Market all properties while under construction and upon completion.

· Prepare and maintain all listing documentation, including Multiple Listing Service (MLS) postings which shall be an open offer period for submission.

· MLS should contain all income documentation necessary to submit a P&S.

· Install and maintain “For Sale” signage at construction sites and designated property locations.

· Conduct pre-sale activities designed to secure qualified buyers before construction completion.

B. Buyer Outreach and Education

· Provide prospective buyers with clear information regarding the City’s affordable homeownership programs, requirements, and processes.

· Arrange for potential buyers to attend HUD-certified first-time homebuyer education classes or provide access to HUD-certified homeownership counseling.

· Provide or coordinate credit restoration or credit repair assistance for interested buyers.

· Assist prospective buyers in identifying and applying for available down payment and closing cost assistance from the City or other programs.

C. Coordination and Access

· Schedule and coordinate property viewings for prospective buyers, mortgage brokers, bank appraisers, inspectors, and other authorized parties.

· Maintain regular communication with City staff regarding construction schedules, marketing activity, buyer interest, and sales progress.

· Understand the Restrictions and requirements that will be attached to each structure regarding income compliance D. Valuation and Compliance

· Assist the City in determining fair-market value for each property in accordance with program requirements.

· Ensure all marketing, buyer qualifications, and sales processes comply with applicable federal, state, and local affordability requirements.

· Maintain accurate documentation regarding buyer eligibility determination and program compliance.

4. Deliverables The Broker shall provide the following deliverables throughout the term of the agreement:

· Weekly written status updates summarizing marketing activities, inquiries, buyer readiness, and pending offers.

· Documentation of buyer outreach, homebuyer counseling referrals, and credit readiness efforts.

· Copies of MLS listings, marketing materials, and on-site signage placements.

· Timely notification of executed purchase contracts, pending closings, and final sale outcomes.