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above and beyond listing properties and connecting with known relationships--they would be more <br /> pro-active. They would also work closer with known developers/investors. These firms would act more of as <br /> an extension of staff. Although this type of broker would have a high motivation to close deals, it would not <br /> be their exclusive mission(as is for a traditional broker). The scope of work for a custom broker is variable, <br /> and highly customizable. <br /> If the city were to select this alternative, staff would recommend we send a RFQ to our broker list, and within <br /> the RFQ specifically require certain services be provided(i.e. services we want above and beyond the role of <br /> a traditional broker). For, example,we want the broker to produce (or contract out)targeted marketing <br /> materials for restaurants and retail--and we want them send to a minimum XXX entities per year,directly <br /> and personalized(not just via a mass email blast of a generic message), and they should follow up with at <br /> least one direct phone call to each. Staff would also ask for the scope/expectations for updates/and progress <br /> reports to be clearly defined. <br /> Examples:iagcommercial.com, landform.net <br /> (3) Public Relations/Marketing Firms <br /> Private organizations that specialize in providing detailed/specific marketing for real estate--including <br /> in-depth targeted marketing campaigns. This could be useful for Ramsey in the areas of retail(restaurants and <br /> shopping), anchor users(theaters),hotels, and office users. This could also be useful in aiding staff with <br /> keeping our content/data fresh and out in the public eye (i.e.more press releases, facebook posts,etc.). <br /> These firms would likely bill like any professional services firm--by project or by hourly rate. These firms <br /> would pay a lot of attention to Ramsey's customized marketing/PR needs. These firms would not have a high <br /> motivation to close deals. The City would use our EDA marketing dollars to fund this work(and potentially <br /> EDA professional services dollars). A benefit of this alternative is no commission payments on land <br /> transactions(i.e. we could maximize land proceeds). Also,we wouldn't be tied into a contract. <br /> If this route was utilized, staff would suggest hiring a PR firm to complete a specialized marketing package <br /> for three campaigns(retail,restaurants, and destination users--like hotels,theaters, community centers, etc.). <br /> Upon completion of marketing packages, the PR firm would develop a long list of prospects. The PR firm <br /> would send information to the prospect list. Then, either staff/or the PR firm would follow up with the <br /> prospect list. <br /> Examples:fallsagency.com, maccabee.com, antennaconsulting.com <br /> (4)Private Economic Development Services <br /> Organizations that specialize in aiding government agencies(and large utility companies)in maximizing the <br /> effectiveness of their economic development departments. Range of services is highly variable. Often times, <br /> these agencies have a plug-in to a base of traditional economic development prospects/contacts. <br /> Additionally,these agencies typically target website improvements and advertising campaigns. <br /> One example to consider is WEDA(word economic development alliance),they are based out of Texas and <br /> work across the US. For a fixed annual fee, they provide a pallet of economic development services. WEDA <br /> only works with 2-3 cities from each State.WEDA delivers 100+leads of businesses considering relocation <br /> on an annual basis (traditional economic development, i.e. manufacturing). WEDA attracts prospects via <br /> their magazines,ads,websites,event attendance,relationships,the WEDA partnership board, and their <br /> brokerage. WEDA also has a network of nearly 8,000 restaurants and retailers--they would create a <br /> customized marketing campaign for our target market--and send out on our behalf. Any prospects Ramsey <br /> has would be managed by WEDA,via their CRM system. WEDA also offers website design and maintenance <br /> services. Lastly,WEDA has very strong tracking and reporting capabilities--they can track if prospects are <br /> opening our emails,if they are clicking on our website,etc. <br /> Examples:goldenshovelagency.com/gsa, WEDA attractmorejobs.com <br />