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Awarded contract·Texas State Technical College (TSTC)·Texas

Real Estate Broker Services - Statewide

Won by CBRE, Inc. +4 more$1MMultiple Award
Contract source

Awarded vendors

  • CBRE, Inc.
  • Cushman & Wakefield US Inc
  • Jones Lang LaSalle Americas, Inc.
  • Stewart R. Kelly Real Estate, Inc.
  • BCS Capital Group LLC

Description

The contract is for real estate broker services for Texas State Technical College (TSTC) on a statewide basis. The contract was awarded to multiple vendors, including CBRE, Inc., Cushman & Wakefield US Inc, Jones Lang LaSalle Americas, Inc., and Stewart R. Kelly Real Estate, Inc., as well as BCS Capital Group LLC. The scope of work includes brokerage and marketing services for all commercial property real estate transactions for TSTC. The contract is for two years with an option to renew for three additional one-year periods. • The contract is for real estate broker services on a statewide basis. • The contract was awarded to multiple vendors. • The scope of work includes brokerage and marketing services for all commercial property real estate transactions for TSTC. • The contract is for two years with an option to renew for three additional one-year periods. • The vendors will be paid strictly on a commission basis. • The vendors will be expected to work closely with TSTC personnel and provide monthly reports to the Senior Vice Chancellor & Chief Campus Expansion Office.

Attached files

Key dates

Duration
2 years

Last updated

Details

Award type
Multiple Award
Procurement
Indefinite Delivery / Indefinite Quantity (IDIQ)
Industry
Real Estate
NAICS
531210
Solicitation №
184

Contract value

$1,000,000

The value of the contract is not explicitly stated in the text. However, based on the fact that the contract is for real estate broker services on a statewide basis and the vendors will be paid strictly on a commission basis, the value of the contract could be substantial. The commission rate is not provided, but a typical commission rate for real estate broker services could be around 3-5% of the total transaction value. Assuming an average transaction value of $1 million, the total commission for one transaction would be $30,000 to $50,000. If the vendors complete 10 transactions per year, the total commission for one year would be $300,000 to $500,000. Over the two-year term of the contract, the total commission would be $600,000 to $1 million. However, this is a rough estimate and the actual value of the contract could be higher or lower.

AI estimate from the award documents

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