Real Estate Brokerage Services

The City of Palm Bay, Florida is seeking proposals from real estate brokerages for comprehensive commercial real estate services, specifically focusing on marketing, selling, and acquiring City-owned and privately held properties. The procurement is a request for proposals (RFP 16-RFP-26) targeting national, regional, and local brokerages licensed in Florida, with a preference for firms having an office in Brevard County and experience in land assemblage. Key services include selling City-owned surplus real estate (both vacant lots and parcels with existing structures), land acquisition services, and real estate consulting. Brokerages must prepare Comparable Market Analysis reports, submit Broker's Price Opinions within five business days, and inspect properties every 90 days. The evaluation criteria include Summary of Qualifications (40 points), Technical Response/Marketing Strategy (35 points), Proposed Commission Rate (15 points), and Proximity to Palm Bay (10 points). Critical deadlines include a question submission deadline of December 19, 2025, at 5:00 PM, with proposals due on January 6, 2026, at 9:00 AM, and a proposal opening scheduled for 10:30 AM that same day.

The RFP does not specify specific set-aside designations for disadvantaged enterprises, but does outline strict requirements for participating brokers. Firms must maintain Professional Liability or Errors and Omissions Insurance with a minimum aggregate limit of $1,000,000 and comply with Florida's E-Verify requirements and public records obligations. The contract term is initially twelve months, with options to extend for four additional twelve-month periods, potentially reaching a total of sixty months. Compensation is commission-based, with rates structured at five percent for single-firm transactions, six percent when another licensed broker is involved (split equally), and three percent for commercial property acquisitions. The City reserves the right to award contracts to multiple brokers, with property distribution determined by staff based on broker qualifications and current workload. While no specific budget range is provided, the commission structure suggests potential earnings will be directly tied to successful property sales and acquisitions. Brokers are prohibited from self-dealing and must provide comprehensive documentation and market analysis for each potential transaction.