Professional Real Estate Brokerage Services

The Vendor is required to provide On-Call Professional Real Estate Brokerage Services to represent and assist the City in the sale of exempt-surplus properties for the City and to support a variety of City real estate sale and acquisition projects and/or programs including, but not limited to, the sale, acquisition, leasing, and development of City-owned or City-interest real property.
- Assist with transactions related to surplus property disposition, redevelopment initiatives, affordable/market rate housing projects on City land, and economic development opportunities.
- Real Estate Planning and Advisory Services
• Evaluate City-owned properties for long term real estate planning
• Evaluate the feasibility of the disposal of City-owned properties in conformance with the Surplus Land Act
• Conduct economic and financial feasibility analysis for development concepts for City facilities and affordable housing on City-owned land
- Real Estate Acquisition Services
• Evaluate the acquisition of new property for the potential relocation sites for City facilities and the development of affordable housing or public uses
- Real Estate Brokerage Services
1. Property Sales
• Recommend the listing prices of City surplus properties based on their marketability and comparable properties in the area
• Recommend a minimum sale price for the site for the City to consider and a projected timeline for sales at various listing prices
• Development and management of solicitations and marketing processes
• Vetting and evaluation of potential developers and projects
• Coordination with City staff to organize and facility buyer site tours
• Coordination with City staff to negotiate land sale prospects and buyers
• Coordinate with City staff relating to the sale of real estate
• Coordination of all customary activities and services associated with real estate transactions
2. Property Purchase
• Identify and evaluate potential acquisition properties that meet the City's objectives
• Recommend purchase price ranges based on market conditions and comparable properties
• Recommend maximum offer amounts and anticipated acquisition timelines.
• Develop and manage property search and acquisition strategies
• Conduct due diligence and evaluate property suitability and development potential
• Coordinate with City staff to organize property tours and inspections
• Assist City staff in negotiating purchase terms with property owners and brokers
• Coordinate with City staff throughout the acquisition process
• Manage customary activities and services associated with real estate acquisitions, including due diligence, escrow, and closing