RFP Licensed Real Estate Broker Services Final.pdf

February 6, 2020

REQUEST FOR PROPOSALS (RFP) FOR SERVICES

OF WISCONSIN LICENSED REAL ESTATE BROKER

The City of Edgerton is seeking proposals from qualified firms or individuals holding an active Wisconsin license in Real Estate Brokerage to solicit interest in potential offers for the purchase of the Veterans’ Memorial Community Center, 414 Albion Street, Edgerton

WI 53534.

We ask that proposals be submitted to City of Edgerton, 12 Albion Street, Edgerton WI 53534 to the attention of Jenny Salvo. Proposals are to be submitted no later than 2:00 P.M. – Thursday, February 27, 2020. Proposal may be submitted via in person delivery, mail, fax, or email.

The Finance Committee will review the proposals and recommend a successful bidder to the City

Council.

In order to bid on Brokerage services, please submit the attached completed bid form and the documentation requested in the RFP.

Questions should be directed to:

Jenny Salvo

(608) 884 3341

Fax (608 ) 884 8892 jsalvo@cityofedgerton.com

The City of Edgerton reserves the right to accept or reject any or all proposals and to issue a contract based on experience, familiarity with project, and cost.

REQUEST FOR PROPOSALS FOR SERVICES

I. SCOPE OF SERVICES

The City of Edgerton is seeking proposals from qualified firms or individuals holding an active Wisconsin license in Real Estate Brokerage. The successful proposer, if awarded, will be expected to provide at least the following services:

1. To perform all customary activities and services associated with real estate transactions, to include, but not be limited to, assist in valuation of property, showing of the property, participation and assistance with drafting of the Purchase Agreement, participation in the closing for the property, etc.

2. To assist the City in determining the most advantageous time to commence the process of listing and marketing the property, taking into account such things as the market conditions, the status of the leasehold on the property and any other relevant factor.

3. Solicit interest in potential offers for the purchase of the Veterans’ Memorial Community

Center.

4. Work cooperatively with the City to negotiate the sale of the property with prospective buyers.

5. Provide oral and/or written updates to the City of Edgerton.

II. QUALIFICATIONS

Respondents to this RFP must possess the following qualifications:

1. Must be licensed and in good standing with the State of Wisconsin.

2. Must possess knowledge of the local real estate market and possess experience with the sale of commercial property.

3. Must be familiar with local zoning ordinances.

4. Must possess an excellent reputation, to be verified by at least three (3) independent references.

III. INSURANCE

Proposers must provide copies of Certificates of Insurance evidencing coverage under a

General Liability Policy and Worker’s Compensation Policy.

IV. FEE

Should the City complete a transaction for the sale of the property, the Broker will receive a brokerage commission paid by the City based on a percentage of the selling price of the

V.

property. The commission will be paid from the proceeds of the sale. The Broker will state its requested commission in its proposal using the attached Fee Schedule. The proposed commission will be the total commission paid by the City and will include any commission due to the buyer’s Broker. The Fee Schedule allows the Broker to provide an alternative commission percentage for up to three currently known potential buyers of the Property.

Names of currently known entities will be disclosed prior to execution of the Broker contract with the selected Broker.

TERM OF CONTRACT

The initial contract period for the successful proposer shall be a period of six (6) months, with the mutual ability of the parties to exercise individual extensions not to exceed six (6) months each. The contract shall contain a mutual termination for convenience clause without the necessity of any prior notice.

VI. AWARD ISSUANCE PROCESS

By issuing this Request for Proposals and accepting the proposals, the City of Edgerton does not obligate itself to award a contract to any proposer. The City of Edgerton reserves the right to postpone the proposal deadline, and to accept or reject any or all proposals received in response to this RFP, to negotiate with any brokers submitting a response to the RFP, and/or to cancel all or part of this RFP at any time and for any reason whatsoever.

VII. SELECTION CRITERIA

1. 20% Real estate experience, qualifications, and references, particularly with respect commercial properties.

2. 20% Knowledge of the local real estate market in the City of Edgerton and ability to provide substantial real estate-related analytical data and financial information and comparative analysis of recent similar sales.

3. 20% Proposed strategy to market the property. (Note: the City reserves the right to not have a sign posted on the site.)

4. 40% Fees.

5. The City of Edgerton reserves the right to ask for additional information of any kind or nature whatsoever from any individual proposer.

VIII. PROPOSAL REQUIREMENTS

Each proposer should submit the following information. Failure to submit the requested information may result in the rejection of the proposal. However, the City of Edgerton reserves the right to request additional information to supplement and/or assist with its evaluation.

1. Provide resumes of key personnel that will be assisting with the sale of the Property.

2. Describe the experience your firm or organization has with the sale of similarly situated properties, especially those involving governmental agencies.

3. Provide a list of at least three (3) references for similar services provided. Please provide names and telephone numbers of contact persons for each reference.

4. Provide a marketing plan description with a description of how the property will be marketed to a potential buyer, including the level of advertising commitment you feel is necessary and that you will provide.

FEE PROPOSAL FOR SERVICES

A. Brokerage commission based on a percentage of the selling price of the property. _____%

B. Brokerage commission based on a percentage of the selling price of the property for those buyers known by the City prior to contract with Broker. _____%