As-Needed Commercial Real Estate Services
City of Oak Ridge > Procurement
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Description
The City seeks a qualified, Tennessee-licensed real estate agent or firm to provide commercial and other real estate services on an as-needed basis, particularly for marketing and selling City-owned properties. Work may include market analyses and sales strategies, valuation, establishing market-based rental rates and leasing recommendations, listing and marketing properties through the MLS and other channels, promoting the City's interests, negotiating offers and sales agreements subject to City approval, holding earnest money in escrow when applicable, and coordinating appraisals, due diligence, and closings. The firm may also consult with City staff and stakeholders, attend and present at public meetings as requested, and provide other customary commercial real estate transaction services. Proposals are evaluated on experience and qualifications, capabilities, fees, and response quality. Respondents must provide a commission rate for property sales and identify other anticipated costs. The initial term is two years, with up to two mutually agreed two-year extensions. The proposal must include the specified firm information, conflict disclosures, experience and qualifications, capabilities, understanding of the City's needs, and fee information.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial General Liability — $1,000,000.00
- Workers' Compensation
- Employers' Liability — $100,000.00
- Business Automobile Liability — $1,000,000.00
- Professional Liability — $1,000,000.00
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