Commercial Real Estate Broker Services

The Vendor is required to provide commercial real estate broker services to real property services for the state or eligible cooperative members (herein after referenced as eligible agency) owned properties that are available to sell, develop, or convey.
- Mandatory requirements:
• Marketing and sales of real estate owned by the eligible agency.
• Communicate, advise and negotiate with sellers, purchasers, developers, investors, lessees and other public agencies the real estate transactions on behalf of the eligible agency.
• Provide information such as statistics, market analysis, pricing, valuations and financial evaluations, etc.
• Evaluations of eligible agency properties to determine a course of action to sell, develop, lease, and convey real property.
• Acquisitions of real estate
- Typical duties
• Broker’s opinion of value when pricing properties for sale.
• Advertising at broker’s expense and properties media appropriate for marketing such properties.
• Recommendations to sell or convey state-owned or eligible agency properties
• Analyze and evaluate all offers presented to the eligible agency and prepare recommendations.
• Present all offers presented on the eligible agency property to eligible agency staff and eligible agency counsel, along with analysis and recommendations.
• Prepare and present any counter-offers or addenda requested by the eligible agency.
• Maintain an escrow file for all transactions.
• Accurate land use information as provided by the eligible agency planning and community development department or the agency.
• Consult for any land divisions, surveys, inspections, clean up, etc.; as may be necessary in connection with specific transactions.
• Information and documents necessary for escrow in preparation for closing, in conjunction with eligible agency counsel.
• Communication link between the eligible agency and the seller/seller’s or the buyer/buyer's agent.
• Comply with all applicable state laws and regulations regarding the acquisition or disposal of real estate.
• Broker must be a member of the local multiple listings services (MLS).
• Broker has a direct or indirect interest in a transaction, they must make written disclosures to the eligible agency at the earliest practical opportunity and before any offers are presented or considered.
• If selling to another governmental buyer, broker will not be paid a commission.
• Broker shall communicate any verbal or written offers received from a prospective co- broker on a property to the state or eligible agency.
• Broker shall be responsible for co-broker actions and adherence to contractual terms of the contract.
• Broker will work with the state or eligible agency to complete the disposition and follow its policy and procedure.
• Broker shall have at least ten (10) years of experience in commercial real estate.