Real Estate Brokerage Services

The Vendor is required to provide a qualified commercial real estate brokerage firm to provide exclusive listing and marketing services for the sale of City-owned property located in city.
- Prepare a Broker Opinion of Value (BOV) and supporting market analysis, including evaluation of comparable property sales, development site transactions, and current market conditions. Provide recommendations regarding pricing strategy, timing, future uses, and marketing opportunities.
- Develop a comprehensive marketing and sale strategy for the Property, including identification of target buyer profiles, recommended marketing channels, and outreach approach.
- Prepare all marketing materials necessary to effectively market the Property, including but not limited to an offering memorandum, marketing brochures, online listings, and other promotional materials. All materials shall be subject to review and approval by the City prior to release.
- Actively market the Property to qualified developers, investors, and development teams at the local, regional, and national level. This shall include direct outreach to industry contacts, coordination with brokerage networks, and utilization of digital and traditional marketing platforms.
- Coordinate and conduct property tours and site visits for prospective purchasers. Provide consistent communication and follow-up with interested parties and maintain a log of prospective buyers and outreach efforts.
- Respond to inquiries from prospective purchasers and coordinate the distribution of due diligence materials, including planning documents, studies, and other information provided by the City.
- Advise the City on structuring a competitive offer evaluation process, including recommended timelines, submission requirements, and evaluation criteria for offers.
- Receive, organize, and analyze offers or letters of intent submitted by prospective purchasers. Provide written summaries and recommendations to City staff regarding financial terms, development concepts (if applicable), and overall responsiveness to City objectives.
- Assist the City in negotiations with selected purchaser(s), including support in preparation and review of purchase and sale agreements or other transaction documents, in coordination with City staff and legal counsel.
- Attend meetings with City staff and, as requested, participate in presentations to advisory groups and/or the City Council regarding marketing progress, offer evaluations, and recommended transaction strategies.
- Provide ongoing transaction management support through closing, including coordination of due diligence activities, tracking of key milestones, and communication with all parties.
- Provide weekly status updates to the City during active marketing, summarizing marketing activity, interested parties, and progress toward sale.