Agenda - Council - 12/10/2013 - Laserfiche WebLink

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Fee Schedule/Term The commission fees that will be charged to The City of Rarnsev for the marketing and selling of the properties are based on a percentage of sales prices, paid upon successful closings. Edina Realty is a Full Service marketing company, and would have full discretion and direction of the marketing. The City can offer input, but ultimately Edina Realty would make all final decisions regarding marketing_ Edina Realty fee is 7% on Residential properties 10° a an Vacant Land properties And we use a sliding scale on Commercial properties based on sales price Example: $1,000,000 or less=7% $1-2,000,000= 6% $2,000,000+= % **Since the City of Rarnsey will be selling rnn.ltiple properties, Edina Realty will charge 6% for all property sales. ** Edina Realty would be seeping an Exclusive Right to sell Brokerage agreement Our Cn-Ureker fees would be negotiated between any Broker Edina Realty decided it might Co -Broker with. Any compensation received on behalf of Representing/or Facilitating on behalf of City of Ramsey on any purchases, would be negotiated by Edina Realty and Cooperating Broker and paid by seller to Edina Realty. Our Marketing term is a 2 year minimum term. There will be no upfront fees, or carry over fees. The Seller would pay all normal and customary title service and closing fees. Edina Realty Title would offer a proposal for all closing and title service fees * Realtors are Independent Contractors and this proposal is not binding on any other Edina Realty Sale Associates proposal if any.