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The Worldwide ERC® Broker’s Market Analysis and Strategy Report is a tool designed for real estate brokers to perform a detailed evaluation of a property's condition, its competition, and its potential marketability in the future. Its main goal is to estimate the Most Likely Sales Price (MLSP) of the subject property, based on its current state and expected market conditions within a 120-day selling period. This document is neither a home inspection nor an appraisal, but rather a comprehensive market analysis that should meet certain disclosure requirements unique to each state.

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In today's complex and ever-evolving real estate market, the Worldwide ERC® Broker's Market Analysis and Strategy Report stands out as a critical tool for real estate brokers diligently analyzing a property's condition, competition, and its future marketability. It provides a comprehensive framework for brokers to estimate the most likely sales price (MLSP) of a property based on its "as is" condition and expected marketing time, which should not exceed 120 days to contract of sale, or as directed by the client. Notably, this report is distinct from a home inspection or appraisal and does not adhere to the Uniform Standards of Professional Appraisal Practice, serving instead as a specialized comparative market analysis. It also emphasizes the importance of state-specific disclosure requirements, procedural guidelines for property inspection, report submission, and the presentation of photographic evidence, alongside crucial information about the property, its improvements, and listing status. The form meticulously outlines conditions affecting a property's insurability, locational attributes, and necessary repairs or improvements, financial considerations including financing options and potential issues affecting loan approval, and broader market dynamics that might impact the property’s marketability. Through this detailed approach, the ERC Broker Market Analysis form equips real estate professionals with the insights needed to navigate property sales in a structured and informed manner.

Preview - Erc Broker Market Analysis Form

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

↓ Erc Broker Market Analysis PDF Form

Form Characteristics

Fact Name	Description
Purpose	The report is aimed at providing a diligent analysis of a property's condition, competition, and marketability to estimate its Most Likely Sales Price (MLSP).
Not an Appraisal	This analysis is not conducted following the Uniform Standards of Professional Appraisal Practice and cannot be considered an appraisal.
State-Specific Disclosures	Preparers must be mindful of state-specific disclosure requirements and incorporate them as necessary.
Procedural Guidelines	Guidelines include contacting the homeowner, inspecting the property, submitting the report, and providing photos as per the requesting company's protocols.
MLSP Condition	The Most Likely Sales Price is determined based on the property's "as is" condition and assumes a marketing time of up to 120 days to a sales contract.
Information Section	Covers basic details about the property, homeowner(s), and the requesting and responding entities involved in the analysis.
Assignment Section	Details about the real estate firm, agent preparer, and contact information for both are included here.
Subject Information	Includes detailed specifications about the property including type, ownership, occupant status, and notable characteristics or issues.
Condition, Inspections, and Disclosures	Addresses the property's condition, recommended repairs and improvements, inspections, disclosures, and potential financing and insurability issues.

How to Use Erc Broker Market Analysis

Filling out the ERC Broker Market Analysis form is a detailed process that requires attention and diligence from real estate brokers. This form is crucial for assessing the property's condition, competition in the market, and its future marketability. The ultimate goal is to estimate the property's Most Likely Sales Price (MLSP) considering its current state and expected time to sell. Before beginning, it's essential to gather all required information about the property, including any state-specific disclosures, and to adhere to the requesting company's procedural guidelines.

Steps to Fill Out the ERC Broker Market Analysis Form

Begin by entering the File #, homeowner(s) name(s), home phone #, property address, city, state, zip, and work phone # in the designated areas.
Fill in the BMA Requested by section with the company name, contact person, email, company address, phone number, city, state, zip, and fax #.
Under the ASSIGNMENT section, provide information about your real estate firm, including the firm's name, contact name, email, address, city, state, zip, and fax #. Include the agent preparer's name and phone #. Input the homeowner’s purchase price and date purchased.
List any Improvements made by the homeowner, indicate whether the subject property is currently listed, the listing company/agent, form of ownership, occupant type, and property type under the INFORMATION and SUBJECT sections.
Check the appropriate boxes that describe the subject property, such as location type, lot characteristics, view, locational issues affecting insurability, and site characteristics.
In the MISCELLANEOUS section, note any factors that may affect the property’s marketability or value. Provide detailed comments where necessary.
Detail the subject condition inspections/disclosures, including the property condition, recommended repairs, and improvements with estimated costs, and list any required, customary, or recommended inspections.
Under FINANCING, identify the most probable means of financing for the subject, describe any financing concessions necessary, and comment on any potential issues affecting financing.
Define the subject neighborhood based on your assessment and provide statistics reflecting the market area. Discuss the price range, property values trends, average days-on-market, and the absorption rate.
List all competing listings, their characteristics, and analyze their condition in comparison to the subject property. Enter the relevant details for at least three competing listings, including addresses, MLS #s, pricing, and property features.
Select and describe at least three comparable sales within the last six months, similar to the subject property. Include details such as address, MLS #, sales price, and property characteristics.

Accurately completing this form involves thorough research and analysis to ensure that the Most Likely Sales Price is reflective of the property's current state and market conditions. By methodically filling out each section, you lay a solid groundwork for estimating the property's value and strategize for its marketing.

Important Queries on Erc Broker Market Analysis

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

The Worldwide ERC® Broker’s Market Analysis and Strategy Report serves the purpose of assisting real estate brokers in conducting a detailed examination of a property's condition, competition, and marketability in the future. The aim is to estimate the property's Most Likely Sales Price (MLSP) by analyzing it based on its present condition and its potential to sell within a period not exceeding 120 days under a contractual agreement, as per the directives of the client.

Is this ERC Broker’s Market Analysis considered an appraisal?

No, the Worldwide ERC® Broker’s Market Analysis is not considered an appraisal. Although it performs a comparative market analysis, it does not adhere to the Uniform Standards of Professional Appraisal Practice. Therefore, it should not be interpreted as an appraisal and is not intended for use as one for any purpose.

What kind of information does the broker need to provide in this form?

The broker is required to furnish comprehensive details about the subject property including, but not limited to, homeowner information, property improvements, current listing status, form of ownership, and type of occupancy. Furthermore, it encompasses a meticulous scrutiny of the property’s condition, noting any locational issues, the presence of maintenance issues, potential environmental concerns, and required repairs or improvements. The form also seeks to document information on the subject neighborhood, financing options considered probable for the subject, and comparable sales data within the same or similar market area.

Are there state-specific disclosure requirements that need to be included in the form?

Yes, the preparers of the Worldwide ERC® Broker’s Market Analysis and Strategy Report must be cognizant of and include any state-specific disclosure requirements that apply. This ensures that the analysis is not only comprehensive but also compliant with the regulations and disclosure norms that may vary from one state to another.

What guidelines are to be followed for conducting the property inspection and submitting the report?

Brokers who prepare the Worldwide ERC® Broker’s Market Analysis and Strategy Report must follow the procedural guidelines set out by the requesting company. These procedures include the steps for contacting the homeowner, inspecting the property, submitting the completed report, and providing photos. Following these guidelines helps ensure that the information gathered and provided in the report meets the specific standards and requirements of the requesting party.

Common mistakes

Filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report requires attention to detail and a comprehensive understanding of the property in question, as well as the current real estate market. Mistakes in filling out this form can lead to inaccuracies that affect the estimated Most Likely Sales Price (MLSP) and overall marketability of the property. Here are six common mistakes people make when completing this form:

Providing Inaccurate Property Information: Incorrectly listing the property's details, such as the type of home, improvements made, or failing to check off applicable characteristics like location type or lot characteristics, can significantly skew the analysis.
Overlooking Required Disclosures: Each state may have specific disclosure requirements that must be included in this form. Failing to acknowledge or include these disclosures can not only affect the form's accuracy but also lead to legal issues.
Underestimating the Importance of Comparative Market Analysis (CMA): Not performing a thorough comparative market analysis, or misunderstanding the selected comparables, can lead to an unrealistic MLSP. This section requires careful selection of comparable properties and an understanding of how their attributes affect their valuation.
Not Adequately Describing the Property’s Condition: The condition of the property, including any damage, repairs, or improvements needed, must be accurately reported. Overlooking or underreporting issues can mislead the analysis, affecting the property’s valuation and marketability.
Miscalculating Marketing and Selling Timeframes: Unrealistically estimating the time it will take to market and sell the property can lead to strategic missteps. This timeframe affects pricing strategies and marketing efforts.
Ignoring Potential Financing Issues: Failing to anticipate and describe potential financing issues for buyers can overlook an essential factor in the saleability of the property. Whether it’s the type of financing most likely to be secured or potential hurdles in securing financing, these details can significantly impact the transaction.

When completing the Worldwide ERC® Broker's Market Analysis and Strategy Report, it's crucial to:

Verify all the provided information for accuracy.
Ensure thorough and realistic comparative and competitive market analyses.
Accurately depict the property's condition and marketability factors.
Consider the potential financing avenues and challenges for buyers.
Adhere to state-specific disclosure requirements.
Understand and accurately estimate market conditions, including selling and marketing timeframes.

Avoiding these mistakes will help ensure a more accurate and effective market analysis, leading to better strategic decisions for the sale of the property.

Documents used along the form

When dealing with the intricacies of real estate transactions, especially those involving relocation, the Worldwide ERC® Broker’s Market Analysis and Strategy Report is a crucial piece of documentation. However, to ensure a comprehensive understanding and smooth processing of property transactions, several other forms and documents are often used in conjunction with this report. Each plays a significant role in painting a full picture of the property’s situation, marketability, and value.

Listing Agreement: This contract between the homeowner and the real estate firm authorizes the broker to represent the property and engage with prospective buyers.
Property Disclosure Form: Sellers use this form to reveal any known issues or defects with the property. It’s a critical document that informs buyers, aiding in their decision-making.
Home Inspection Reports: Comprehensive assessments by certified inspectors provide insights into the property’s condition, including structural, electrical, and plumbing systems.
Appraisal Report: This report gives an expert opinion on the property’s value, based on comparisons with similar properties, market trends, and the home’s features.
Title Report: It details the ownership history of the property, along with any liens, encumbrances, or easements that might affect the property’s transfer or use.
Purchase Agreement: This binding contract between the buyer and seller lays out the terms and conditions of the property sale, including price, contingencies, and closing details.
Closing Disclosure: A detailed breakdown of financial transactions and closing costs involved in the property sale. It is used for verification and final settlement.
Relocation Policy: For relocation transactions, this document outlines the benefits and support the employer provides to the employee moving for work-related reasons, possibly including certain allowances or reimbursements related to the home selling process.

Together, these documents work alongside the Worldwide ERC® Broker’s Market Analysis and Strategy Report to ensure all parties are well-informed and agreed-upon terms are met with transparency. For anyone navigating a relocation or real estate transaction, understanding these documents can provide clarity and confidence through each step of the process.

Similar forms

The Comparative Market Analysis (CMA) is one document that shares similarities with the Worldwide ERC® Broker’s Market Analysis and Strategy Report. Both documents aim to provide an accurate estimate of a property's market value based on the analysis of comparable sales, property condition, and current market trends. While the ERC form is specifically designed for relocation assessments, a CMA is commonly used by real estate agents to help homeowners determine a realistic selling price for their property when listing it on the market.

An Appraisal Report is another document bearing a resemblance to the ERC form in its purpose of estimating a property's value. However, unlike the ERC form, an appraisal is conducted by a licensed appraiser and follows the Uniform Standards of Professional Appraisal Practice (USPAP). Appraisal reports are often required by lenders to determine the amount of a loan. Both documents involve inspections and comparisons of similar properties, but an appraisal is considered a more formal and legally binding assessment.

The Pre-listing Inspection Report also shares common features with the ERC form, particularly in the evaluation of a property's condition. Both documents require a thorough inspection of the property and note any repairs or improvements that may affect its value. While the Pre-listing Inspection Report focuses more on identifying issues that a seller should address before listing the property, the ERC form combines this assessment with market analysis to advise on the most likely sales price.

The Home Equity Report can be seen as similar to the ERC’s Broker Market Analysis form in that both are used to assess the value of real estate. Home equity reports typically provide homeowners or lenders with a current estimate of the property's worth in relation to outstanding mortgage balances, often for refinancing or securing a home equity loan. While serving different end purposes, both documents rely on an understanding of the property’s condition and its standing in the current market to project value.

Dos and Don'ts

When completing the Worldwide ERC® Broker's Market Analysis and Strategy Report, there are several do's and don'ts to ensure the analysis is thorough, accurate, and provides valuable insights into the property's marketability and probable sales price. Below are critical points to consider:

Do:

Conduct a thorough inspection of the property: Carefully inspect the property to accurately assess its condition, noting any areas that require repair or improvement. This step is crucial for providing an accurate Most Likely Sales Price (MLSP).
Research comparable sales and listings: Identify and analyze sales of similar properties within the last six months in the same or a similar market area. This research is fundamental to estimating the subject property’s MLSP accurately.
Include state-specific disclosure requirements: Ensure any state-specific disclosures are included in the report as needed. This may include material facts about the property's condition, history, or surrounding area.
Follow the requesting company’s guidelines: Adhere to the procedural guidelines provided by the company requesting the report for contacting homeowners, inspecting properties, submitting reports, and providing photos.

Don't:

Use the report as an appraisal: Understand that the Comparative Market Analysis (CMA) is not an appraisal. It should not be treated or utilized as one, as it does not adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).
Ignore local market conditions: Failing to consider the current local market conditions and economic factors that may affect the subject property’s marketability and value can lead to inaccurate pricing recommendations.
Overlook necessary repairs and improvements: Neglecting to note any required repairs or improvements can significantly impact the property's marketability and ultimately its selling price.
Assume the property's insurability: Do not make assumptions regarding the subject property's insurability without proper due diligence. Unknown issues such as locational risks, environmental concerns, or zoning issues may affect the property’s insurability.

Misconceptions

Understanding the Worldwide ERC® Broker's Market Analysis and Strategy Report requires clarity on its purpose and limitations. Misconceptions surrounding this form can lead to improper use and expectations. Here are nine common misunderstandings:

Misconception 1: The ERC Broker Market Analysis form is a substitute for a home inspection. This is incorrect. The form is designed for a broker's analysis, not to check the physical condition of a property as done in home inspections.
Misconception 2: It serves as an official appraisal. This form does not follow the Uniform Standards of Professional Appraisal Practice and should not be mistaken for an appraisal.
Misconception 3: State-specific disclosures are not necessary. The form requires preparers to be aware of and include any state-specific disclosure requirements, which are crucial for legal compliance and the accuracy of the report.
Misconception 4: The Most Likely Sales Price (MLSP) assumes property improvements. MLSP is determined based on the property's "as is" condition, not future improvements or repairs.
Misconception 5: Marketing time is flexible. The MLSP is calculated with a marketing time that should not exceed 120 days or as directed by the client, setting a clear expectation for the sales timeline.
Misconception 6: All sections apply equally to every property. Certain parts of the form, such as the type of ownership or specific property types, may not apply depending on the property being analyzed.
Misconception 7: Financing sections are optional. Identifying potential financing issues is crucial for understanding the ease with which a prospective buyer can purchase the property.
Misconception 8: Inspection/Repairs and Improvements sections are only for major issues. These sections should reflect any observed condition, even if it seems minor, as it could impact the property's marketability and MLSP.
Misconception 9: The neighborhood definition is fixed. The broker defines the subject neighborhood for analysis purposes, which could vary greatly depending on geographical and market factors.

Clearing up these misconceptions ensures the ERC Broker Market Analysis and Strategy Report is utilized effectively, providing valuable insights into a property's marketability and pricing strategy.

Key takeaways

Filling out and using the Worldwide ERC® Broker’s Market Analysis and Strategy Report requires attention to detail and an understanding of real estate market trends. This document plays a pivotal role in estimating a property's Most Likely Sales Price based on its condition, competition, and future marketability. Here are 8 key takeaways for efficiently handling the report:

This form enables real estate brokers to conduct a thorough analysis of the subject property, focusing on its condition, the competitive market, and its potential for future sale, aiming to estimate the property's Most Likely Sales Price accurately.
The report is not a substitute for a home inspection or an appraisal, and it should be clarified that the comparative market analysis performed does not adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).
Brokers preparing this form must be mindful of state-specific disclosure requirements, incorporating them into the report as necessary to ensure compliance and thoroughness.
It is essential to follow the procedural guidelines laid out by the requesting company, which include protocols for contacting the homeowner, inspecting the property, submitting the report, and providing necessary photographs.
The Most Likely Sales Price (MLSP) is determined based on the "as is" condition of the property and assumes a marketing period not to exceed 120 days unless otherwise directed by the client.
Completeness in documenting improvements made by the homeowner, whether the property is currently listed, and detailed information regarding the subject property’s characteristics, will contribute to the accuracy of the analysis.
Attention should be given to the accuracy of reported required, customary, and additionally recommended inspections, as well as required disclosures, which play a crucial role in understanding and conveying the property's condition and marketability.
Understanding and accurately reporting on the subject neighborhood and broader market area—including housing trends, economic conditions, and inventory—will significantly impact the strength and reliability of the market analysis.

By taking these considerations into account, real estate professionals can provide comprehensive and accurate market analyses, aiding homeowners and buyers alike in making informed decisions.

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