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Fill a Valid Erc Broker Market Analysis Form

The Worldwide ERC® Broker's Market Analysis and Strategy Report is a comprehensive tool designed for real estate brokers to evaluate a property's condition, competition, and marketability. It aims to estimate the Most Likely Sales Price (MLSP) based on a thorough investigation but is distinct from a formal appraisal or home inspection. This form also requires familiarity with and inclusion of any state-specific disclosure requirements. To ensure you're making informed decisions, consider completing the analysis by clicking the button below.

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At the heart of real estate transactions involving relocating employees is the Worldwide ERC® Broker’s Market Analysis and Strategy Report, a comprehensive document that equips real estate brokers with the tools to conduct a thorough analysis of a property's current condition, competitive market positioning, and future marketability. This report guides brokers in estimating the most likely sales price for a property, an invaluable asset for businesses and employees navigating the complexities of relocation. It's important to note that this report is distinct from a formal appraisal or a home inspection. It operates within specific procedural guidelines that include homeowner engagement, property inspection, report submission, and photographic documentation, adhering closely to the requesting company’s policies. Furthermore, it incorporates state-specific disclosure requirements, ensuring compliance and accuracy in its findings. Real estate professionals tasked with preparing this report must offer an estimate of the property's value based on its "as is" condition and expected market trends over a 120-day period, unless directed otherwise. This tool not only aids in decision-making but also in strategizing repairs, improvements, and marketing tactics tailored to the unique characteristics and challenges of each property. Engaging with this report requires a detailed exploration of not just the property in question, but also a granular look at the competitive landscape, local and broader market conditions, as well as potential financing avenues—all of which influence the ultimate sales strategy and pricing recommendations.

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Worldwide ERC® Broker’s Market Analysis and Strategy Report

Purpose: This report is designed to enable the real estate broker to conduct a diligent analysis of the subject property’s condition, competition, and future marketability. Based on this analysis, the broker is to estimate the subject property’s Most Likely Sales Price.

This is not a home inspection. Nor is this an appraisal; this comparative market analysis has not been performed in accordance with the Uniform Standards of Professional Appraisal Practice. It is not to be construed as an appraisal and may not be used as such for any purpose. Preparers of this form need to be aware of any state-specific disclosure requirements and include them in this form as appropriate.

Procedural Guidelines: For procedures on contacting homeowner, inspecting property, submitting report, and providing photos, follow the requesting company’s guidelines. The Most Likely Sales Price (MLSP) is based on “as is” condition and a marketing time not to exceed 120 days to a contract of sale or as directed by the client.

INFORMATION

File #:

Homeowner(s):

Property Address:

Home Phone #:

City, State, Zip:

Work Phone #:

BMA Requested by (Co. & Contact):

e-mail:

Requesting Co. Address:

Phone #:

City, State, Zip:

Fax #:

ASSIGNMENT

Real Estate Firm:

Contact Name:

e-mail:

Real Estate Firm Address:

Phone #:

City, State, Zip:

Fax #:

Agent Preparer:

Phone #:

Homeowner’s purchase price: $

Date purchased:

INFORMATION

Improvements made by homeowner if any:

Is the subject currently listed?

□ Yes

□ No

Listing Company/Agent:

Form of Ownership:

□ Fee Simple

□ Leasehold

Occupant:

□ Homeowner

□ Tenant

□ Vacant

Type: □ Condo

Coop

PUD

Single Family

Mixed Use

Town House

Modular

Mobile Home

SUBJECT

□ Other:

Indicate any personal property that remains (e.g., refrigerator, range, etc):

Subject’s location type:

□ Urban

□ Suburban

□ Distant suburban

□ Rural

□ Farm

□ Resort

Lot Characteristics: positive/negative (explain):

Subject’s view: positive/negative (explain):

Locational issues OF WHICH you are aware that may affect the insurability of the property:

LOCATION	Site Characteristics of which you are aware (check all that apply):
	□ Private Street Access	□ Private Street Maintenance	□ Gated	□ Alley
	□ Easements/Encroachments	□ Sidewalk	□ Curbs/Gutters	□ Street Lighting
SUBJECT	□ Paved Street Surface	□ Paved Driveway Surface
	Miscellaneous of which you are aware (check all that apply):
	□ Maintenance issues with neighboring properties		□ Excess acreage or land	□ Mobile homes/trailer park nearby
	□ Subject located on or near designated environmental sites		□ Location next to agricultural area	□ Close proximity to hospital/firehouse, etc.
	□ Neighborhood has restrictive covenants		□ Subject located near railroad tracks	□ Audible street or highway noise present
	□ Located on or backs up to busy/main street		□ Location in flood plain	□ Location in earthquake zone
	□ Location next to school or public park		□ Property located on corner lot	□ Access to subject property
	□ Location near/in view of power lines/water towers/ radio towers		□ Location next to industrial area	□ Located on airport flight path
	□ Additional Comments:

Check all other items of which you are aware that may affect the marketability or value of the subject property and comment below:

	□ Style of home not typical for the area	□ Subject is over improved	□ Subject is under improved
MISCELLANEOUS	□ Inadequate parking	□ Functional obsolescence	□ Steep driveway
	□ Proposed land use change	□ Little sales activity in area or price range	□ Estimated time to sell is more than 120 days
	□ Proposed or pending assessments	□ Property taxes not typical for area	□ HOA has first right of refusal
	□ HOA does not allow “for sale” signs on property	□ HOA fees not typical for the area	□ Other
	Comments:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 1 of 6

SUBJECT CONDITION

INSPECTIONS/DISCLOSURES

Property Condition

For all the following of which you are aware or observe in viewing the property, check the appropriate box(es) and describe:

□Décor of home is personalized or dated:

□Incomplete construction:

□Evidence of past or present water damage:

□Cracks or stains on walls, floors, or ceilings:

□Oil tank (abandoned):

□Oil tank (in use):

□Underground storage tank (abandoned):

□Underground storage tank (in use):

□Synthetic stucco:

□Suspected structural problems:

□Evidence of odor:

□Evidence of pet damage:

□Evidence of deferred maintenance: Additional Comments:

Recommended Repairs and Improvements
Interior Items			R&I Estimates
□ Paint	Estimated cost per item: $		Comment:
□ Flooring	Estimated cost per item: $		Comment:
□ Wall paper removal	Estimated cost per item: $		Comment:
□ Appliances	Estimated cost per item: $		Comment:
□ Cabinets	Estimated cost per item: $		Comment:
□ Light fixtures	Estimated cost per item: $		Comment:
□ Countertops	Estimated cost per item: $		Comment:
□ Bathroom fixtures	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
Total Estimated Cost for Interior Repairs		$

Exterior Items			R&I Estimates
□ Landscaping	Estimated cost per item: $		Comment:
□ Paint	Estimated cost per item: $		Comment:
□ Driveway/walkway	Estimated cost per item: $		Comment:
□ Porch/deck	Estimated cost per item: $		Comment:
□ Pool	Estimated cost per item: $		Comment:
□ Spa	Estimated cost per item :$		Comment:
□ Gutters	Estimated cost per item: $		Comment:
□ Siding	Estimated cost per item: $		Comment:
□ Trim	Estimated cost per item: $		Comment:
□ Roof	Estimated cost per item: $		Comment:
□ Detached structures	Estimated cost per item: $		Comment:
□ Debris removal	Estimated cost per item: $		Comment:
□ Windows and screens	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
□ Other:	Estimated cost per item: $		Comment:
Total Estimated Cost for Exterior RepairS		$

List all required, customary and additionally recommended inspections (e.g., municipal, certificate of occupancy, environmental, etc.): Required:

Customary:

Additionally recommended for the subject property:

Subject property issues OF WHICH you are aware that may affect insurability of the subject property:

List all required disclosures:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 2 of 6

Identify the most probable means of financing for the subject:

□ FHA

□ VA

□ Cash

□ Conventional mortgage—conforming or jumbo

□ Other:

Describe the terms of the financing type identified above:

Identify and describe any financing concessions that may be necessary to secure the sale of the subject property.

□ Points:

□ Closing Costs:

□ Other:

FINANCING

Do you anticipate any issues that may affect the ability to secure financing for the subject property (e.g., condition, zoning, environmental, HOA, etc.)?

□ Yes □ No

If yes, comment:

If the subject property is a common interest development (e.g., condo, townhouse, PUD), what is the ratio of owners to investors?

□ N/A

Owners:

Investors:

(total MUST equal 100%)

HOA Fees: $

How often are they paid?

□ Monthly

□ Quarterly

□ Semi-annually

□ Annually

Items included in HOA Fees: □ Trash Pick-up

□ Landscaping

□ Snow Removal

□ Exterior Building Maintenance

□ Security/Concierge Services

□ Insurance

□ Taxes

□ Amenities

□ Common Area Maintenance

WATER

SEWER

□ Other:

Are you aware of any special assessments covered by the HOA?

□ Yes

□ No

If yes, indicate the amount of assessment: $

Describe what the special assessment covers:

Subject Neighborhood (For purposes of this report, the subject neighborhood is defined by the preparer of this form. Identify what you regard as the

subject neighborhood and then use statistics that you have gathered which reflect that market area. Note: the neighborhood might be a MLS area, a

particular section of a town, a specific subdivision, or an entire community. This is described as the “micro area.”)

Subject neighborhood is defined as:

Price Range: $

to $

Property Values are: □ Increasing

% in past

months

□ Stable

Average Days-on-Market (list to contract)

days

□ Decreasing

(# of days)

% in past

months

Calculate the months supply of inventory (Absorption Rate):

Type of competing listings

New Homes

Resale

Number of active listings ÷

Avg. number of sales per month

Number of months needed

REO/Foreclosure

for the last 6 months

to sell existing inventory

Corporate

Total (MUST equal 100%)

100%

Describe all marketing concessions/incentives being offered to buyers and/or brokers on competing properties:

CONDITIONS

Recommend any marketing concessions/incentives that should be offered for the subject:

MARKET

Describe major corporation(s) in this neighborhood that are moving into, out of, or planning layoffs:

Describe current economic conditions (positive or negative) that may have an Effect on the marketability of the property:

Broader Market Area (For purposes of this report, the broader market area is defined as that area beyond the subject neighborhood in which buyers will

look for comparable properties. This is described as the “macro area.” In some instances, the broader market area will be the same as the subject’s

neighborhood. If this is the case, indicate it below.)

What do you consider the “broader market area” to be for this property?

Are there any specific issues in the broader market area which are not reflected in the specific neighborhood that might affect the sale of the subject property? Consider types of competing homes (e.g., new construction, REO’s); incentives or concessions that are occurring; economic conditions; a dramatically different price range than the subject; days on market; etc.

Rev. 01/07/2009

This Form Expire 12/31/2009

Page 3 of 6

COMPETING LISTINGS

ITEM

SUBJECT

Competing Listing #1

Competing Listing #2

Competing Listing #3

Address, City

Current MLS #

Proximity to Subject

Original List Price

Current List Price

Seller Concessions

Last Price Change Date

Days-on-market (DOM)

from original list date

Previous listing history for last

Orig. List Price $

Last List Price $

Last List Price

12 months

DOM:

Style

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

Exterior Finish

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

(Check all that apply)

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Hardcoat Stucco

□ Other:

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

Roof Type

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

(Check all that apply)

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Other:

□ None

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Attached

Car Storage/Type

□ Detached

□ Built-in

(Check all that apply)

□ Carport

□ Attached

□ Detached

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

Year Built

Lot Size

Appx. Gross Living Area

Sq. Ft

Above Grade Room Count

Tot

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Basement

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

□ Full

(Check all that apply)

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

Basement Finish

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

Attic (Check all that apply)

□ Crawl Space

□ Full

□ Crawl Space

□ Full

□ Crawl Space

□ Full

□ Crawl Space

□ Full

Attic Access

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Pull down steps

Bonus Room

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

Detached Structures

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

(Check all that apply)

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Other:

Deck/Patio

Pool/Spa

Fireplace(s)

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

Water Supply

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

Waste Disposal

□ Cesspool

□ Other:

Type of Air Conditioning

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

(Check all that apply)

□ Other:

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

Type of Heating System

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

(Check all that apply)

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Other:

Location

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Lot Characteristics

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

View

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Floor Plan Utility

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Ext. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Int. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Overall Rating of Listings as

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Compared to Subject

Listing #1: Date inspected:

Comments:

Listing #2: Date inspected:

Comments:

Listing #3: Date inspected:

Comments:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 4 of 6

Instructions: Select sales within the last six months which are suitable and similar to the subject property and within the same/similar market area.

COMPARABLE SALES

ITEM

SUBJECT

Comparable Sale #1

Comparable Sale #2

Comparable Sale #3

Address, City

MLS #

Proximity to Subject

Original List Price

Final List Price

Sales Price

Seller Concessions

Under Contract Date

Closing Date

Days-on-market (DOM)

from original list date

Previous listing history for last

Orig. List Price $

Last List Price $

12 months

DOM:

Style

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

Exterior Finish

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

(Check all that apply)

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Hardcoat Stucco

□ Other:

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

Roof Type

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

(Check all that apply)

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Other:

□ None

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Attached

Car Storage/Type

□ Detached

□ Built-in

(Check all that apply)

□ Carport

□ Attached

□ Detached

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

Year Built

Lot Size

Appx. Gross Living Area

Sq. Ft

Above Grade Room Count

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Basement

□ None

□ Partial

□ None

□ Partial

□ None

□Partial

□ None

□ Partial

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

Full

□ SLAB

□ Full

(Check all that apply)

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

Basement Finish

□ Full

□ Partial

□ Full

□ Partial

□ Full

□ Partial

□ Full

□ Partial

Attic (Check all that apply)

□ Crawl Space

□ None

□ Crawl Space

□ None

□ Crawl Space

□ None

□ Crawl Space

□ None

Attic Access

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Pull down steps

Bonus Room

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

Detached Structures

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

(Check all that apply)

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Other:

Deck/Patio

Pool/Spa

Fireplace(s)

Water Supply

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

Waste Disposal

□ Cesspool

□ Other:

Type of Air Conditioning

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ Window/Wall

□ Heat Pump

□ Window/Wall □ Heat Pump

(Check all that apply)

□ Other:

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

Type of Heating System

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

(Check all that apply)

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Other:

Location

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Lot Characteristics

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

View

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Floor Plan Utility

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Ext. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Int. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Overall Rating of Sales as

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Compared to Subject

Sales #1: Inspected? □ Yes

□ No Comments:

Sales #2: Inspected?

□Yes

□ No Comments:

Sales #3: Inspected?

□Yes

□ No Comments:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 5 of 6

MOST LIKELY	BUYER(S)
MARKETING STRATEGY
VALUE	ANALYSIS
SIGNATURES

Check all that apply:
□ Local Buyer	□ Transferee	□ International Buyer	□ First-time Homebuyer	□ Second-home Buyer
□ Empty Nester	□ Military	□ Parent Purchaser for Child	□ Move-up Homebuyer	□ Investor
□ Dual-income	□ Other:

What are the three - five challenges to getting this property sold?

What are the three - five actions necessary to address the challenges identified above?

What are the top five creative ideas you will use in marketing this property keeping in mind the challenges and actions identified above?

Additional Comments:

Most Likely Sales Price (MLSP): $	Suggested List Price (SLP): $
The MLSP is based on “as is” condition and a marketing time not to exceed		days to a contract of sale.
	(# of days)

File #:	Real Estate Firm:

Real Estate Firm Tax ID #:	Date of Inspection:

Contact Name:	Agent Preparer Name:

Contact Signature:	Agent Preparer Signature:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 6 of 6

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File Characteristics

Fact Name	Detail
Document Purpose	Provides a framework for brokers to analyze a property's condition, competition, and marketability to estimate its Most Likely Sales Price (MLSP).
Not an Appraisal	This analysis is not performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and cannot be used as an appraisal.
State-Specific Disclosures	Preparers must include any relevant state-specific disclosure requirements in the form.
Procedural Guidelines	Procedures include contacting the homeowner, inspecting the property, submitting the report, and providing photos following the requesting company's guidelines.
MLSP Conditions	The MLSP is based on an "as is" condition with a marketing timeframe not to exceed 120 days unless directed otherwise by the client.
Assignment Section	Contains details about the real estate firm handling the analysis, including contact information and homeowner's purchase details.
Subject Property Details	Includes property type, ownership form, improvements made, current listing status, and personal property remaining with the sale.
Location and Condition Implications	Identifies site characteristics, locational issues, and property condition that may affect marketability or insurability.
Financial Considerations	Discusses the most probable financing means, potential financing concessions, and any issues affecting financing eligibility for the subject property.
Market and Neighborhood Analysis	Examines the subject neighborhood's demographics, current economic conditions, inventory supply, and competitive listing to assess the property's marketability.

Steps to Writing Erc Broker Market Analysis

Filling out the ERC Broker Market Analysis form is a process that requires attention to detail and thorough examination of the subject property, its competition, and market conditions. This form aids real estate brokers in compiling a comprehensive analysis to estimate the Most Likely Sales Price (MLSP) based on the current condition of the property and market dynamics. Here are the steps to properly complete the form:

Start by entering the basic INFORMATION such as File #, Homeowner(s) name, Property Address, Home Phone #, Work Phone #, and details of the request including the company and contact person's email and addresses.
Under ASSIGNMENT, fill in the Real Estate Firm's information, including the contact name, email, address, and Agent Preparer's details.
Record the Homeowner’s purchase price and the date purchased. Note any improvements made by the homeowner.
Indicate whether the subject property is currently listed, and if so, provide details of the listing company/agent and form of ownership.
Specify the type of property (e.g., Condo, Single Family, PUD) and any personal property that remains with the house. Highlight the subject property's location type and any lot characteristics, views, and locational issues that could affect the property’s insurability.
Check all applicable LOCATION Site Characteristics and Miscellaneous aspects that may impact the property, offering additional comments as necessary.
For SUBJECT CONDITION INSPECTIONS/DISCLOSURES, check all conditions you are aware of or observed, and provide recommended repairs and improvements along with estimated costs for both interior and exterior items.
List all required, customary, and additionally recommended inspections and required disclosures to ensure compliance with local real estate regulations.
Identify the most probable means of financing for the subject property, including any financing concessions that may be necessary.
Provide details about the Subject Neighborhood, defining it as required and using gathered statistics to reflect the market area. Note the price range, property values trend, average days-on-market, absorption rate, and types of competing listings.
Detail any marketing concessions/incentives for both the subject property and competing properties.
Assess the broader market area beyond the subject neighborhood that might affect the sale of the subject property.
Compare the subject property against up to three competing listings by detailing their location, current list price, seller concessions, and overall appeal.
Select and detail up to three comparable sales within the last six months, providing insights on their pricing, location, and conditions as compared to the subject property.

After completing these steps, review the information for accuracy. The final analysis will play a crucial role in estimating the Most Likely Sales Price, guiding marketing strategies and aiding in making informed decisions regarding the property's sale.

Important Details about Erc Broker Market Analysis

What is the purpose of the Worldwide ERC® Broker’s Market Analysis and Strategy Report?

The report's main goal is to provide a thorough evaluation of a property's current condition, its competition in the market, and its future marketability. This evaluation enables real estate brokers to make an informed estimate of the property's Most Likely Sales Price (MLSP). It's essential to note that this analysis is not a home inspection or an appraisal, and it does not adhere to the Uniform Standards of Professional Appraisal Practice. Rather, it's a comparative market analysis that should not be considered or used as an official appraisal for any purpose.

Does the Broker’s Market Analysis replace the need for a home inspection or an appraisal?

No, this analysis does not replace the need for a home inspection or an appraisal. The Broker’s Market Analysis is intended to aid in estimating a property's sale price based on its current condition and market competition. It does not provide the detailed evaluations of a property’s structural integrity, systems, or overall condition that a home inspection would, nor does it offer the formal property value assessment that an appraisal does.

What should be included in the form concerning state-specific disclosure requirements?

Beyond the general evaluation and strategy information, preparers of the form should ensure any state-specific disclosure requirements are included. These requirements can vary significantly from one jurisdiction to another, and it’s crucial that the analysis complies with local laws and regulations regarding the sale of real estate. Including state-specific disclosures helps ensure transparency and legal compliance throughout the sales process.

How is the Most Likely Sales Price (MLSP) determined?

The MLSP is determined based on the property's condition as observed at the time of the broker's analysis and considering the current market conditions and comparable sales data. The report takes into account factors such as the property's location, its size and features, any known defects or improvements, and how these compare to similar properties that have recently sold or are currently available. The assumed condition is "as is," and the estimated sale time should not exceed 120 days following this evaluation.

Are there specific procedures for contacting the homeowner or inspecting the property?

Yes, the report includes procedural guidelines that outline specific steps for contacting the homeowner, scheduling and conducting property inspections, submitting the completed report, and providing necessary photos of the property. These guidelines are designed to ensure that the process is consistent and thorough, adhering to the requesting company’s requirements.

Can personal property impact the Most Likely Sales Price?

Yes, personal property that remains with the subject property can have an impact on its marketability and, consequently, its Most Likely Sales Price. Items such as high-end appliances, custom furniture, or unique decor that will stay with the home can enhance its appeal to potential buyers. The perceived value of these items should be taken into consideration when estimating the MLSP.

How do locational issues affect the estimated value of the property?

Locational issues play a significant role in the property’s marketability and the estimation of its value. Factors such as proximity to environmental sites, agricultural areas, industrial zones, or flight paths can negatively affect the property's attractiveness to buyers. Conversely, positive locational attributes like being in a gated community, having access to amenities, or offering a desirable view can enhance value. The broker conducting the market analysis needs to consider these locational issues thoroughly to accurately estimate the Most Likely Sales Price.

Common mistakes

Filling out the Worldwide ERC® Broker’s Market Analysis and Strategy Report requires meticulous attention to detail. A common mistake is inaccurately listing improvements made by the homeowner. Not only does this influence the Most Likely Sales Price (MLSP), but it can also mislead potential buyers regarding the property’s condition and worth. Being precise helps in painting an accurate picture of the property's enhancements.

Another oversight occurs when agents do not properly indicate the subject's current listing status. Whether the property is already on the market or not plays a significant role in devising a marketing strategy. Overlooking this detail can lead to conflicts in the sales approach and miscommunication with potential buyers.

A critical error is insufficiently detailing the form of ownership. Whether the property is a fee simple or leasehold crucially affects its marketability and price. Misrepresenting or failing to specify can lead to legal complications and mislead stakeholders about the property rights being transferred.

Not correctly specifying the subject property's type—for instance, whether it's a Single Family, Condo, or Town House—can lead to incorrect market comparison and valuation. Essential in understanding a property's competitive edge, misclassification may skew the analysis, affecting its MLSP.

Omitting details about personal property included in the sale, like appliances, can unintentionally mislead or confuse potential buyers. This oversight might also impact negotiations and the final sale price, underlining the necessity of completing this section with care.

Failure to accurately describe and check all applicable site characteristics, such as Private Street Access or Maintenance issues, neglects essential factors impacting insurability and marketability. Awareness and disclosure of these elements are paramount in evaluating a property's desirability and worth.

Not thoroughly investigating and reporting potential locational drawbacks, like proximity to industrial areas or flood plains, can drastically affect a property's appeal and value. Ignoring these elements in the analysis can result in an unrealistic estimation of the sale price and extend the property's time on the market.

Lastly, overlooking the requirement to check and describe any locational or structural issues that may affect the insurability of the property is a significant error. It's vital for determining not only marketability but also the eventual ease or difficulty of transferring ownership. Insurability issues can halt sales processes or severely impact pricing, making this information critical for an accurate report.

Documents used along the form

When managing real estate transactions, particularly in the context of employee relocation, the Worldwide ERC® Broker's Market Analysis and Strategy Report is a pivotal document. To ensure a comprehensive understanding and proper handling of such transactions, several other documents and forms often accompany this form. Here, we explore eight other forms and documents frequently used alongside it, elucidating their significance in the process.

Listing Agreement: This contract between the property owner and the real estate brokerage firm authorizes the broker to represent the owner and sell the property, detailing the associated terms and conditions.
Property Disclosure Form: Sellers use this form to disclose information on the property's condition, including any known defects or issues that could affect the property’s value or marketability.
Purchase Agreement: This legal document outlines the terms and conditions under which the property will be sold, including the sale price, closing date, and contingencies that must be met before the sale is finalized.
Home Inspection Report: Conducted by a professional home inspector, this report provides a detailed assessment of the property’s condition, including any necessary repairs or potential issues.
Appraisal Report: This report, prepared by a certified appraiser, provides an expert opinion on the value of the property, critical for securing financing.
Title Report: This document outlines the history of ownership of the property, including any liens, encumbrances, or easements that may affect the title’s transferability.
Closing Disclosure: A detailed breakdown of financial transactions and closing costs involved in the real estate transaction, provided to buyers and sellers before closing.
Home Warranty: Often provided by the seller or negotiated in the purchase agreement, this warranty covers repairs or replacement of systems and appliances in the home for a certain period after the sale.

Together, these documents form a robust framework supporting the real estate transaction process, from the initial listing to the final closing, ensuring all parties are well-informed and protected. Each document plays a vital role in providing transparency, setting expectations, and facilitating a smooth transition for the property from seller to buyer.

Similar forms

The Comparative Market Analysis (CMA) form is closely related to the Worldwide ERC® Broker's Market Analysis and Strategy Report in both purpose and content. A CMA is a document that real estate professionals use to determine the market value of a property by comparing it to similar properties in the same area that have recently been sold or are currently on the market. Similar to the ERC form, it includes information on the subject property's condition, competition, and market trends but does not act as a formal appraisal.

The Residential Appraisal Report is another document that bears similarity to the ERC Broker's Market Analysis, primarily in its focus on evaluating a property's market value. However, unlike the ERC form, an appraisal is conducted according to specific standards and often requires certification. An appraisal provides a more detailed and legally binding valuation, taking into account a wide range of factors including, but not limited to, the property's condition, location, and comparison to similar properties.

Listing Agreements often include data and analysis similar to that found in the ERC Broker’s Market Analysis. These agreements between homeowners and real estate agents detail the conditions under which a property will be marketed and sold. While the core purpose is to establish the terms of the agent’s representation, listing agreements often summarize the property’s appealing features and market situation to help set a competitive selling price.

Pre-Listing Packages, which agents present to potential sellers, share objectives with the ERC form by highlighting a property's unique selling points, comparing it to similar properties, and formulating a marketing strategy. However, these packages are more focused on persuading the homeowner to hire the agent, including testimonials, marketing plans, and general market conditions that reflect the agent's expertise and plan for the home's sale.

The Broker Price Opinion (BPO) is another document that offers a property value estimation similar to the ERC’s market analysis. Typically requested by financial institutions, BPOs are used to estimate the value of a property without the need for a formal appraisal. They include an evaluation of the property’s condition, comparable market sales, and an estimation of value, but they are often less detailed and formal than a full appraisal.

The Home Inspection Report, while more focused on the physical condition of the property rather than the market analysis, shares the element of property condition examination with the ERC report. It provides detailed findings about the state of the property’s structure, systems, and any repairs needed but lacks the market value estimation and comparison with other listings found in the ERC analysis.

Real Estate Owned (REO) Property Reports feature aspects of property condition and market analysis to determine the value and sale strategy for properties owned by a lender, usually as a result of foreclosure. Like the ERC analysis, these reports assess property condition, but with a focus on determining the as-is value, factoring in the cost of any necessary repairs or renovations to liquidate the asset quickly.

Finally, the Property Condition Disclosure Statement, required in some states during a real estate transaction, overlaps with the Worldwide ERC® form in its collection of information regarding the condition of the property. Though its primary aim is to inform the buyer of known issues rather than assess market value, it shares the emphasis on providing accurate, relevant details about the property’s state.

Dos and Don'ts

When filling out the Worldwide ERC® Broker’s Market Analysis and Strategy Report, it is essential to pay close attention to detail and ensure accuracy for an effective evaluation of the property. Below are ten do’s and don’ts to keep in mind while completing the form:

Do review the entire form first to understand what information is required.
Do gather all necessary documents and information about the subject property before beginning.
Do accurately describe the subject property’s condition, ensuring to note any improvements or issues.
Do provide a thorough market analysis, including comparisons with similar properties.
Do use recent and relevant comparables from the local market to support your Most Likely Sales Price (MLSP) estimation.
Don’t rush through the inspection of the property; take adequate time to observe and note details.
Don’t neglect to indicate the form of ownership and occupancy status as these factors impact value.
Don’t forget to check whether the subject is currently listed and provide details if applicable.
Don’t overlook property and neighborhood characteristics that may affect marketability, such as locational issues, maintenance of neighboring properties, and more.
Don’t use outdated or irrelevant data for your market analysis; ensure all comparables and market conditions are current.

Adhering to these guidelines ensures a comprehensive and accurate analysis, aiding in the determination of the property’s market value and sales strategy.

Misconceptions

When discussing the Worldwide ERC® Broker’s Market Analysis and Strategy Report, several misconceptions often come up. Understanding what this form is and what it is not helps in navigating its use correctly. Let’s clear up some common misunderstandings:

It’s an appraisal. One common misconception is that the ERC Broker Market Analysis form serves as an appraisal. However, it does not. The form itself specifies that this comparative market analysis has not been performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and therefore, should not be considered an appraisal. Its purpose is rather to estimate a property’s most likely sales price based on a detailed analysis.
It guarantees a sale price. Another misunderstanding is that the Most Likely Sales Price (MLSP) provided on the form is a guaranteed sale price. In reality, the MLSP is an estimate based on the property’s current condition and market factors at the time of the analysis. Market conditions can change, and there is no guarantee the property will sell for the estimated price.
The form is a substitute for a home inspection. The document clearly states that it is not a home inspection. The aim of the form is to analyze the marketability and condition of the property relative to the market, not to provide an in-depth examination of the property's structural integrity or systems, which is the purpose of a home inspection.
It only considers the exterior condition of the property. This is incorrect. While the exterior condition is an important part of the analysis, the form requires information on a wide range of factors, including but not limited to the interior condition, improvements made by the homeowner, miscellaneous issues affecting marketability or value, and even location specifics that could influence a property's insurability and value.

It is crucial for practitioners and homeowners alike to understand what the Worldwide ERC® Broker’s Market Analysis and Strategy Report encompasses to effectively utilize its findings and recommendations. This clarifies expectations and assists in strategic planning for the sale of a property.

Key takeaways

The Worldwide ERC® Broker’s Market Analysis and Strategy Report primarily serves to provide a comprehensive examination of a real estate property, analyzing its present condition, the competition in the market, and its potential future marketability. This process helps a broker to propose the most probable selling price for the property.

This document is distinct from a home inspection and does not qualify as an appraisal since it does not adhere to the Uniform Standards of Professional Appraisal Practice. Despite offering valuable insight into the property’s market position, it cannot be used as an official appraisal for any purpose.

Brokers filling out this form are reminded to be aware of and to include any state-specific disclosure requirements. These disclosures are essential for ensuring that all relevant legal obligations are met and that the information provided is comprehensive and compliant with local regulations.

There are specific procedural guidelines outlined for the preparers of this form concerning contacting the homeowner, inspecting the property, submitting the report, and providing photos. These steps are crucial for generating an accurate and helpful analysis, following the guidelines provided by the requesting company.

The determination of the Most Likely Sales Price (MLSP) considers the property's "as is" condition and assumes a market exposure time that does not exceed 120 days until a contract of sale is reached, aligning with client directives or market norms.

Completing the form requires detailed information regarding the subject property, including improvements made by the homeowner, its listing status, type of ownership, and several other characteristics that directly influence its marketability and value.

It's critical to examine and report on various factors, such as the subject property’s location, lot characteristics, and potential issues that may affect its insurability and market value.
The form also delves into neighborhood characteristics, market conditions, competing listings, and sales data, allowing for a nuanced understanding of the property's standing in the broader market context.
An accurate and fair estimate of repairs, improvements, and disclosures is vital, as these factors significantly affect the property's appeal to potential buyers and, consequently, its market value.

Ultimately, the Worldwide ERC® Broker’s Market Analysis and Strategy Report is an essential tool for real estate professionals aiming to understand a property's market position thoroughly and to strategize effectively for its sale. By diligently completing the form, brokers can provide valuable insights to homeowners, helping to navigate the complexities of the real estate market.

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