HomeMy WebLinkAboutHA32990 - RFP - Licensed Real Estate Agents • ~ Contract No. HA32990
PALM DESERT HOUSING AUTHORITY
STAFF REPORT � � �
REQUEST: AUTHORIZE TO ISSUE A REQUEST FOR PROPOSALS ("RFP") FROM
LICENSED REAL ESTATE AGENTS FOR THE LISTING OF RESIDENTIAL
SINGLE-FAMILY PROPERTIES OWNED BY THE PALM DESERT
HOUSING AUTHORITY
SUBMITTED BY: Janet Moore, Director of Housing
DATE: July 11, 2013
Recommendation
By Minute Motion, that the Authority Board authorize staff to issue a Request for Proposals
("RFP") soliciting proposals from qualified licensed real estate agents for the listing of
residential single-family properties owned by the Palm Desert Housing Authority.
Executive Summary
� Approval of staff's recommendation will allow the Palm Desert Housing Authority(Authority)to solicit
Request for Proposals from qualified licensed real estate agents for the listing of residential single-
family properties owned by the Authority that will be made available to qualified first-time
homebuyers of low and moderate income,through the Re-Sale Program. The homes are located in
the communities of Falcon Crest and Desert Rose developments.
Backqround
The Authority has the first right of refusal to purchase homes that may become available in the
developments of Falcon Crest and Desert Rose. The Authority in several occasions exercised its
first right of refusal and purchased back properties that became available for sale in order to
preserve the affordability covenant. The Authority owns properties in both communities and is
proposing to sell them to qualified first-time homebuyers of low and moderate income.
To begin the process of selling the properties,the Authority will require the assistance of a licensed
real estate agent to market the homes and is herein requesting authorization to solicit proposals. As
part of the proposal the Authority will request a commission fee structure customary to the program.
The listing agent for the properties will be selected from the RFP for a commission of up to 1 'h
percent of the sales price for each property upon sale. Sales will be open to all licensed real estate
agents up to 1 '/� percent of the sales price. The total commission will not exceed 3% for each
home.
Fiscal Analvsis
The fiscal impact to the Authority will be the costs of the commission associated with each
transaction which will be paid from the sale proceeds.
Department Head: Finance De ment:
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�,�1.J t Moore, Dire f Housing Paul S. i on, Director of Finance
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