This document discusses sales assistance and purchase assurance programs for property owners affected by airport noise. It outlines some key challenges in implementing such programs, including balancing the interests of property owners, sponsors, and real estate agents. Some strategies discussed are getting real estate agents involved early to market properties effectively, understanding the local housing market, prioritizing sales to minimize impacts, and using incentives to appeal to targeted buyer groups when properties aren't selling. Overall success requires strong negotiation, creativity, and establishing a realistic timeline.

1. Sales Assistance and Purchase Assurance The Ugly Stepchild of the Part 150 Mitigation Efforts.

2. Why offer Sales Assistance or Purchase Assurance? May be the only appropriate option for many property owners Some cannot go through the construction process Some need to move from the area quickly for job or personal reasons It ties the Airport sponsor more closely to its surrounding community by offering alternative solutions to sound insulation

3. How do you successfully implement a Purchase Assurance or Sales Assistance Program? Recognize Conflicting Themes Owners want to move from the area at the highest dollar amount Owners remaining, want the property values to be stable Sponsors want to sell properties as quickly as possible Sponsors want to own as few of the parcels as possible for as short of period of time as possible Sponsors want to be able to end their program in a timely manner The Real Estate Community wants to get in on the action

4. Getting the Real Estate Community involved early is critical You get the right information out to people who are talking to both current owners and potential owners, which benefits all mitigation efforts, not just PA They become knowledgeable about what the easement does and does not mean. Many of them become ambassadors for the program wanting to have the opportunity to earn commissions through listings and sales.

5. Know the Market Work with the real estate community to identify: How many parcels can be on the market simultaneously? Look both inside and outside the contours to determine Typical sale price verses list price and number of days on the market What is the housing stock and market appeal? Prioritize participation to maximize various locations around the contours and neighborhoods and minimize marketing multiple houses on the same street at same time. Put incentives in place to get realtors to market the parcels

6. How do you keep the prices at or near Fair Market Value? Keep the market confused -Never identify an automatic decrease in price -Make the realtors work for their commission Identify trends in the sales (Are they VA loans, retirees, people who need to live near the airport?) Negotiate other concessions in place of price concessions Where a property sells well below FMV, identify why this was necessary on the individual parcel

7. What happens when the houses aren’t selling? Find Buyers Task Realtors with identifying segments of the community that might be interested in the parcels such as first time homebuyers, empty nesters, or retirees. Design incentives that make these properties particularly appealing to groups identified. For example: a lease purchase option set up for first time home buyers.

8. Success depends on: Negotiating skills and innovative ideas are a must to obtain top dollar for the properties and to keep the neighborhood stable. Having a realistic timeframe to start and end the program is critical.