Request for Proposal: Real Estate Agent Services » What's NewPublic Notices
Thursday, March 9, 2017
Request for Proposal
Real Estate Agent Services
Listing Rehabilitated Properties – Neighborhood Stabilization Program (NSP) and the Home Investment Partnerships Act (HOME)
Designated Counties – Laramie, Natrona, Campbell, Fremont, Uinta and Sweetwater
The purpose of this Request for Proposal (RFP) is to identify a real estate Listing Agent who has the most experience, capability and demonstrated success in the sale of rehabilitated homes to income restricted households. This solicitation is competitive.
The Neighborhood Stabilization Program (NSP) funding comes from funding Congress put towards the Community Development Block Grant Program (CDBG) from the Housing and Economic Recovery Act of 2008 and from the American Recovery and Reinvestment Act of 2009. Wyoming received $19,600,000 and $5,000,000 respectively. Priority was given to areas that have the greatest percentage of foreclosures, subprime mortgages, or identified as likely to face a significant increase in rate of home foreclosures as determined by the US Department of Housing and Urban Development (HUD). The counties of Campbell, Fremont, Laramie, Natrona, Sweetwater, and Uinta are the only counties in Wyoming approved by HUD for this funding. Through the Public Hearing process the Wyoming Rehabilitation and Acquisition Program was established in Wyoming for utilization of these funds.
WCDA has been administering this program since 2008 and has acquired 141 properties located throughout Casper, Cheyenne, Gillette, Green River and Rock Springs. (All the properties in Gillette and Green River have been sold.) The goal of the program is to rehabilitate these homes to a condition that is safe, decent, sanitary and healthy for new homeowners and offer affordable financing terms to income eligible households. The rehabilitation has been completed on 124 of the properties, and they have been sold to new homeowners with favorable financing. The remaining properties are in various stages of rehabilitation. WCDA plans on acquiring additional properties in 2017.
At this time, WCDA is issuing an RFP for real estate agent services to assist WCDA in selling these newly rehabilitated properties to income eligible households.
Buyer & Financing Criteria
There is set criteria that a household must meet in order to qualify to purchase one of the Wyoming Rehabilitation Acquisition Program (WRAP) homes. Each property has established pricing which is not negotiable. However, there is some flexibility in financing terms based on the household’s qualifications. In order to answer the RFP, it is recommended the responder become familiar with the purchasing and financing requirements of the program as it will be critical to understand these requirements to facilitate a successful sale of the property. See the WRAP program on WCDA’s website at http://www.wyomingcda.com.
The Agent will provide the following services:
1. List the properties on MLS with the required disclosures.
2. Field inquiries on the properties and financing associated with the program.
3. Market the property to potential buyers.
Proposals are to include the following information:
1. The Agent must be a member of the National Association of Realtors. The Agent must have a current Wyoming Real Estate License as a sales agent, associate broker, or broker. A copy of the Agent’s license should be included.
2. The Agent must be in good standing with the Wyoming Real Estate Commission and provide written proof from the Wyoming Real Estate Commission.
3. Copy of E & O Insurance.
4. Explanation of relevant experience in providing the requested services.
5. The proposal must include at least one written letter of recommendation from a WCDA participating lender and one from a licensed Wyoming appraiser.
6. Past experience of the Agent and the Brokerage Firm including:
• Length of time licensed as an active agent,
• Length of time Brokerage Firm has been actively selling homes,
• Total number of homes sold in past three years, by year,
• Average purchase price of homes sold in past three years, by year,
7. Identify the city for which you will be providing services. (Casper, Cheyenne, Gillette, Green River, Rock Springs and Evanston)
8. Fee breakdown including the split between buying and selling agents.
9. A narrative detailing how you would describe the WRAP qualifications to a potential buyer.
10. A narrative detailing how you would market the homes to potential buyers. Please list all avenues.
11. What steps would be taken to ensure the property is secure on a regular basis.
12. Do you have a facility where WCDA can meet with an identified buyer prior to closing for a 2 hour period of time, and is the facility available after normal working hours?
13. Written acknowledgement that WCDA has some buyers currently in the process of purchasing available homes, and if these households purchase a property, the Agent will not be compensated.
14. Written acknowledgement that WCDA reserves the right to terminate the contract upon 30 days written notice.
Proposals must be submitted no later than the close of business (5 p.m.) on Friday, April 14, 2017. Proposals may be submitted by mail, email, or fax to:
John R. Batey
Director of Federal Programs
Wyoming Community Development Authority
155 North Beech Street
P.O. Box 634
Casper WY 82602
All proposals will be carefully considered by the Wyoming Community Development Authority and selection will be at the sole discretion of WCDA.
WCDA reserves the right to reject any or all proposals not deemed acceptable or complete, to modify this solicitation in part or whole, or cancel this solicitation in its entirety.