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Lease Market Survey
Procedures
Updated October 6,
2011
Page 1 of 2
On occasion, program officials are requested to either attend or perform a market survey.
The purpose of the market survey is to identify potential locations capable of meeting the
program’s minimum requirements. A physical inspection of each building is conducted
and documented to ensure equal consideration of properties, and to assist in the
negotiation of the lease. The results of the market survey will determine which buildings
will be solicited.
To start the process, the Realty Specialist (USDA or GSA) will place an ad on-line, in the
local newspaper, and/or contact local realtors/brokers to identify available space within
the delineated area provided by the program. The program may also provide sites of
interest to include in the market survey.
PROPRIETARY INFORMATION
Please remember that all the market survey information is proprietary and cannot
be shared with your current Lessor, other building owners/brokers/realtors, and
your employees or people not involved in the project. This includes information
such as the number of buildings visited, the name(s) of the broker(s)/realtor(s),
building owners, building locations. You can tell them your current rental rate. If
in doubt, please ask the Realty Specialist.
The Realty Specialist who is working on your project will either schedule the market
survey appointments and conduct the market survey with a program representative(s), or
guide you through the process so you can schedule and perform the market survey on
your own. Each appointment will take 30 minutes to 1 ½ hours, depending on
complexity and travel time.
Your Role is to survey each potential space, including the building, parking, and
surrounding environment, to determine its suitability. If you have any concerns about
the space or its surroundings, it is important to make note of it and discuss it with
the Realty Specialist as early as possible in this process.
You will need to bring a camera; photos are required for each site visited. These photos
are useful for remembering various locations as well as providing evidence of issues with
a specific property. Take photographs of the building, space(s) being offered, and even
the building’s surroundings. It is also helpful to take photographs of anything that may
need future attention, such as water leaks, handicapped accessibility issues, and building
features/amenities that are desirable or undesirable.
The MRP Form 112 (Lease Market Survey) is available at the APHIS Forms Library.
Providing as much detail as possible will reduce confusion later in the process.
Remember you are not negotiating, but simply gathering information. It’s fine to ask
the price of the space and make a note of it for future references, but don’t “dicker” or
express an opinion of value one way or another.