Prequalification pool for real estate brokerage services

The City of Miami Beach is conducting a prequalification process to establish a pool of licensed commercial real estate brokers for potential future real estate transactions. This Invitation to Bid (ITB 2022-059-WG) seeks brokers to provide services in two primary categories: Commercial Real Estate Brokerage and Residential Real Estate Services. Commercial brokers must demonstrate the ability to list properties on platforms like Co-Star or LoopNet, while residential service providers must be capable of listing on the Multiple Listing Service (MLS). Key qualifications include having at least five lease listings within the past five years in Miami Beach for commercial real estate brokers. The procurement process will involve an initial application review within 21 days of ITB issuance, with a complete application review targeted within 60 days of receipt. The prequalification will remain valid for five years, with the City reserving the right to award contracts to multiple brokers and invite prequalified contractors to submit statements of work and costs for specific project needs.

There are no specific set-aside designations or restrictions for disadvantaged enterprises mentioned in the documentation. The commission structure for selected brokers is clearly defined, with a 4% commission based on aggregate base rent for the initial lease term, payable in two 50% installments upon lease execution and tenant occupancy. In cases where a tenant is represented by another broker, the commission will be split 3% to each broker. While no incumbent vendors are explicitly identified, the City will evaluate potential brokers based on proposed marketing costs, experience, and ability to meet project timelines. The procurement appears to be an ongoing, open pool for real estate brokerage services without a specified maximum budget, allowing the City flexibility in selecting brokers for various commercial and residential real estate needs across Miami-Dade County.