Real Estate Brokerage Services

The vendor is required to provide from qualified firms to provide the real estate brokerage services outlined in this document.
- Provide a written broker’s price opinion (“BPO”) of the property in accordance with recognized professional practice and applicable principles of valuation, and make all inspections and investigations, including verification and analysis of sales of comparable properties, sales trends in the area, location of the property, recent sales and comparable listings, and all other factors as are necessary to inform an opinion on the value of the property and to complete the required BPO to the full satisfaction of the authority.
- List and market the property, consistent with all applicable real estate laws, licenses, and requirements, to all prospective buyers by:
• Creating, distributing, and promoting marketing material (electronic and/or hard copy) that includes, but is not limited to, a detailed description of the property (type, size, zoning, etc.) as well as proximity to local attractions and amenities or other attributes of the property in order to advertise sale of the property;
• Provide quality and colorful photos of property and immediate area;
• Completing a comparative market analysis (CMA);
• Coordinating all marketing material with authority prior to release;
• Marketing the property for sale as part of contractor’s other marketing efforts, listing property on multiple listing services (MLS) and other applicable online real estate platforms, listing property on contractor’s website, and/or mailing and emailing to other brokers and/or prospective purchasers;
• Utilizing professional and visible for sale signage at the property that states the property is owned by the Detroit land bank authority, is being marketed by the contractor/broker, and includes contact information for the contractor and broker
• Coordinating access to the property for potential purchasers, arranging walk-throughs, and hosting open houses as appropriate, or at the request of the authority; and
• Educating prospective purchasers and their agents about the terms of sale and the requirements of the applicable disposition programs
• Proficient in technology and online software.
• Incorporate new proposal guideline submissions form.
- Broker sale of the property by:
• Assisting in managing, monitoring and completing all the components of real estate sales transactions, as requested by the authority
• Performing and documenting regular site visits to the property to assess property condition to ensure condition has not changed;
• Recommending list prices for sale of the property;
• Timely responding to all emails and phone calls regarding the property listing, and documenting and logging each inquiry;
• Send authority proposal google link form to buyer’s agent, buyer or assist buyer by completing the form at their direction
• Advising the authority on negotiations of sales price;
• Coordinating real estate closings, as requested by authority; and
• Attending meetings with the authority, as requested.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 18, 2025