Norfolk Opengov #11353-0-2027

City of Norfolk seeks commercial real estate management software solutions with daily market insights

The City of Norfolk's Real Estate Assessor's office is seeking information from vendors about commercial real estate management software solutions. - Buyer: Real Estate Assessor's Office, City of Norfolk, VA - Purpose: Identify software solutions that deliver daily market insights and facilitate income and expense data reporting for commercial properties - Must allow licensed users to gather, correlate, and report data via the vendor’s website - Solution must support reporting requirements for properties with mortgages and SEC filings - Notable exclusions: - Commercial appraisal systems - Computer-assisted mass appraisal systems - No specific OEMs or vendors are named in the notice - The city aims to address challenges with data accuracy and compliance in annual property owner reporting - This is a Request for Information (RFI); a formal solicitation may follow based on responses

Description

The City of Norfolk is seeking market information for comprehensive commercial real estate data, analytics, and technology software solutions that provide daily market insights. The city is not seeking a commercial appraisal or computer-assisted mass appraisal system. This is a request for information only, with a possibility of a future formal solicitation. The solution should gather, correlate, and report income and expense data to licensed users via the vendor's website. The office of real estate currently requests income and expense data from property owners annually, with about 60% compliance and common data inaccuracies.

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