Real Estate Brokerage Services

The vendor required to provide real estate brokerage and advisory services in support of the city’s real estate portfolio, including but not limited to the following:
1. Portfolio analysis and reporting
•    Prepare and submit quarterly reports identifying city owned surplus and underutilized properties, including escheated parcels. Reports shall prioritize opportunities for interim use, redevelopment, or disposition and identify those providing the greatest strategic or financial benefit to the city.
2. Lease and license administration
•    Manage city leases, as assigned, where the city serves as lessor, and administer city license agreements. 
•    The contractor shall promptly notify designated city staff of any defaults, non-compliance, or violations of lease or license terms. 
•    The city’s discretion and request, the contractor shall prepare and draft formal notices on behalf of the city, as required under applicable lease and license agreements, including notices of default, non-compliance, or other contractual violations, for review and issuance to the respective parties.
3. Transaction support and brokerage services
•    Provide brokerage and transaction advisory services for the leasing, sale, acquisition, or disposition of city-owned real property, as directed by the city, and support negotiations to achieve market-competitive and city favorable outcomes.
4. Acquisition due diligence and building inspection support
•    At the city’s request and in connection with potential acquisitions or other real estate transactions, the firm may be required to perform and coordinate building inspection–related due diligence services. 
•    Such services may be provided either by qualified professionals that are part of the firm’s proposed team or by third-party professionals engaged at the direction of the firm, and may include evaluations, assessments, summaries, and recommendations related to the physical condition of improvements.