| Description of Project: |
I. PURPOSE
Finance New Orleans, “FNO” or “Agency” is seeking written quotes from qualified real estate professionals or brokerage firms to provide listing, marketing, negotiation, and transaction coordination services for the eventual sale of up to seven (7) Agency-owned properties. Five (5) of the properties are vacant land parcels with no structures, and two (2) properties contain single-family residential structures that are currently vacant. The properties vary in size, characteristics, and anticipated market value. The properties have been identified for potential disposition due, in part, to the ongoing costs associated with maintaining the properties. Three (3) properties are currently expected to be ready for immediate listing, while the remaining properties are expected to become available for sale during the approximately twelve-month engagement period. The Agency intends to select one qualified listing agent or brokerage to provide services for the properties as they become ready for sale. Selection of an agent under this solicitation does not guarantee that all seven properties will be listed or sold during the contract period. II. ANTICIPATED ENGAGEMENT
The anticipated term of the engagement is twelve (12) months from execution of the agreement, unless terminated earlier in accordance with the agreement. The Agency anticipates listing the properties on a staggered basis. The Agency will determine when each property is ready to be marketed and will provide written authorization to the listing agent before commencing listing services for each property. The Agency reserves the right to determine the timing, listing price, marketing strategy, and whether and when to accept an offer for each property.
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| Available scopes of work: |
III. SCOPE OF SERVICES
The selected listing agent shall provide all services reasonably necessary to market and facilitate the sale of each property, including, at a minimum:
A. Pre-Listing Services 1. Conduct a market analysis for each property that considers the property's physical characteristics, location, zoning and land-use considerations, surrounding development, comparable sales, and other factors that may affect marketability and value. a. For vacant land, the analysis should identify the most likely purchaser profile and potential development or investment use, as appropriate. b. For vacant single-family structures, evaluate condition and marketability of the structures. Recommend whether the properties should be marketed in their existing condition or whether specific improvements would reasonably increase marketability or sale proceeds. 2. Meet with Agency representatives to review each property and establish a marketing strategy and recommended listing price. 3. Identify factors that may affect the property's marketability or anticipated sales price. 4. Provide recommendations regarding reasonable repairs, maintenance, cleaning, staging, signage, or other measures that could improve marketability, if applicable. The Agency will have final authority regarding the listing price and whether any recommended pre-listing work will be performed.
B. Listing and Marketing For each property authorized for sale, the listing agent shall: 1. Prepare and submit the property listing to the appropriate Multiple Listing Service (MLS), where applicable. 2. Clearly distinguish between known property characteristics and assumptions regarding potential development or use. 3. Prepare accurate and professional property-specific marketing materials and strategy appropriate to the characteristics and anticipated purchaser market for each property. a. For vacant land, the strategy should identify and target appropriate purchasers, including developers, investors, adjacent property owners, and other potentially interested parties, as appropriate. b. For properties containing residential structures, the strategy should address the condition and vacancy status of the improvements and identify the most appropriate purchaser market. 4. Arrange for professional photography and/or other appropriate marketing materials, as needed. 5. Place appropriate signage at the property, where permitted and appropriate. 6. Market the property through MLS, applicable real estate platforms, brokerage networks, and other appropriate channels, as needed. 7. Conduct or coordinate open houses or other marketing events when appropriate. 8. Actively market the property to prospective purchasers, investors, developers, and other appropriate buyers. 9. Maintain the property listing and marketing materials throughout the marketing period. 10. Monitor market activity and make recommendations to the Agency regarding pricing or marketing strategy. Ordinary marketing expenses shall be included in the proposed compensation unless specifically identified as an additional reimbursable expense in the quote.
C. Showings and Buyer Communications The listing agent shall: 1. Coordinate and conduct property showings, as needed. 2. Establish appropriate procedures for providing access to vacant properties. 3. Communicate with prospective purchasers and their representatives. 4. Respond to reasonable inquiries regarding the properties. 5. Provide the Agency with relevant feedback regarding showings and prospective purchasers. 6. Maintain appropriate records of showings and significant buyer inquiries.
D. Offers and Negotiations The listing agent shall: 1. Receive and promptly communicate all offers to the Agency. 2. Provide the Agency with a summary of material terms of each offer. 3. Assist Agency representatives in evaluating offers and identifying material terms, contingencies, and other considerations. 4. Prepare or facilitate counteroffers and other transaction documents as authorized by the Agency. 5. Negotiate price and other business terms on behalf of the Agency only within the authority provided by the Agency. 6. Immediately notify the Agency of material developments affecting a pending transaction. The listing agent shall not accept an offer, execute a contract, or otherwise bind the Agency without appropriate Agency authorization.
Listing-Agent-SOW_08-26-26.pdfE. Contract-to-Closing Services For each accepted offer, the listing agent shall: 1. Coordinate with the purchaser, purchaser's agent, title/closing company, lender, inspectors, appraisers, and other transaction participants. 2. Monitor applicable contract deadlines and contingencies. 3. Coordinate property access for inspections, appraisals, and other necessary activities. 4. Assist in addressing issues arising during the transaction. 5. Communicate material transaction developments to the Agency. 6. Assist with coordination of the closing and transfer of possession. 7. Provide the Agency with copies of relevant transaction and closing documentation.
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