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Free Erc Broker Market Analysis PDF Form

The Worldwide ERC® Broker’s Market Analysis and Strategy Report is a comprehensive tool for real estate brokers, offering a structured way to evaluate a property's condition, competition in the market, and its overall marketability. Aimed at pinpointing the Most Likely Sales Price (MLSP) of a property, it delves deep without being mistaken as a home inspection or an appraisal, strictly abiding by its unique standards rather than the Uniform Standards of Professional Appraisal Practice. This distinction ensures that while the analysis is thorough, it's specifically tailored to be an invaluable resource in the real estate market rather than a formal appraisal.

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Article Guide

In the real estate industry, making informed decisions is paramount, and the Worldwide ERC® Broker's Market Analysis and Strategy Report serves as a critical tool in this process. This comprehensive report empowers real estate brokers to perform an exhaustive analysis of a property, considering its condition, the competition it faces, and its marketability prospects. The objective is to ascertain the property's Most Likely Sales Price (MLSP), taking into account its present state and envisaging a marketing timeframe that should ideally not surpass 120 days until a sale contract is achieved. It's crucial to note that this analysis, while detailed, is neither a home inspection nor an appraisal conducted under the Uniform Standards of Professional Appraisal Practice. Hence, it can't be substituted for an appraisal. The form also mandates that preparers adhere to state-specific disclosure requirements, ensuring the report's relevance and compliance across different jurisdictions. Specific instructions within the document guide brokers on the processes for contacting homeowners, inspecting the property, submitting the report, and providing necessary photographs, ensuring a standardized yet flexible approach to developing a viable sales strategy.

Sample - 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

↓ PDF Form

File Specs

Fact Number	Description
1	The Worldwide ERC® Broker’s Market Analysis and Strategy Report is not a home inspection or an appraisal.
2	This report aims to estimate the Most Likely Sales Price (MLSP) for a property based on its current condition and a marketing time not exceeding 120 days.
3	Preparers of this report need to be aware of and include any state-specific disclosure requirements.
4	The form requires detailed information about the subject property including improvements made, type of ownership, and property characteristics.
5	Location characteristics such as access types, neighborhood issues, and locational issues affecting insurability need to be disclosed.
6	The condition of the property, including any necessary repairs and maintenance issues, must be meticulously documented.
7	Financial considerations such as probable means of financing, any issues that may affect financing, and HOA fees are to be identified.
8	The report provides a comparison of similar listings and sales in the area to ascertain market conditions and property competitiveness.
9	Marketing strategies and concessions being offered in the subject’s neighborhood and the broader market area are to be outlined.
10	The analysis report expires on 12/31/2009, indicating it requires regular updates to stay relevant with evolving real estate and legal standards.

Steps to Filling Out Erc Broker Market Analysis

Navigating through the Worldwide ERC® Broker's Market Analysis and Strategy Report can appear daunting at first glance, but this step-by-step guide aims to simplify the process for you. Whether you are a real estate broker tasked with estimating a property's Most Likely Sales Price or someone looking to understand the potential marketability of a property, this form serves as a crucial tool. It provides a diligent analysis of the property’s condition, surrounding competition, and its future marketability. The detailed instructions below will help you gather and input the necessary information accurately and efficiently.

Begin with the INFORMATION section at the top of the form. Fill in the File #, Homeowner(s), Property Address, Home and Work Phone #s, as well as the Email, Address, and Phone # of the requesting company.
In the ASSIGNMENT section, provide details of the Real Estate Firm, including the Contact Name, Email, Address, and Agent Preparer’s Phone #.
Document the Homeowner’s purchase price and the date purchased under the ASSIGNMENT section.
For Improvements made by homeowner if any, list all known improvements. Check the appropriate box to indicate if the subject is currently listed and provide Listing Company/Agent details if applicable.
In the Form of Ownership section, select the correct type of property ownership. Indicate Occupant type and select the building Type from the listed options.
Under SUBJECT, include any personal property that remains with the house, the subject’s location type, lot characteristics, and anything that might affect the insurability of the property due to locational issues.
Tick all applicable boxes under LOCATION Site Characteristics and Miscellaneous sections to best describe the subject property’s surroundings and any known issues.
In the SUBJECT CONDITION INSPECTIONS/DISCLOSURES section, check boxes corresponding to the property condition, describe any observed issues, and provide estimated costs for recommended repairs and improvements.
Complete the FINANCING section with information regarding the most probable means of financing for the subject, any anticipated issues that may affect financing, and HOA details if applicable.
Describe the Subject Neighborhood and Broader Market Area, including price range, property values stability, and any specific issues not reflected in the neighborhood that might affect the sale.
For COMPETING LISTINGS and COMPARABLE SALES, input details for at least three properties including Address, MLS #, proximity to subject, list and sales prices, and seller concessions among others for a precise comparison.
Under each listing and sale, indicate the type of exterior finish, roof type, car storage/type, year built, lot size, appx. gross living area, and number of rooms including bedrooms and baths.
Evaluate and compare each property’s features like location, lot characteristics, view, floor plan utility, exterior and interior condition’s appeal with the subject property and provide an overall rating.

By carefully addressing each step, you will craft a comprehensive report that reflects a thorough market analysis. This structured approach ensures that all necessary aspects concerning the subject property’s marketability and condition are acknowledged, providing valuable insights for determining the Most Likely Sales Price.

Discover More on Erc Broker Market Analysis

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

The report aims to assist real estate brokers in conducting an in-depth analysis of a property's condition, its competition in the market, and its future sales prospects. It helps in determining the Most Likely Sales Price (MLSP) for the property based on its current condition and the expected time frame for a sale, which should not exceed 120 days.

Is the Worldwide ERC® Broker’s Market Analysis the same as a home inspection or an appraisal?

No, the Worldwide ERC® Broker's Market Analysis is neither a home inspection nor an appraisal. Home inspections involve a detailed examination of a property's condition, whereas appraisals are formal assessments of a property's value performed in accordance with the Uniform Standards of Professional Appraisal Practice. This market analysis provides a comparative insight but does not meet the standards to be considered an official appraisal.

How should the report be prepared to ensure compliance with state-specific disclosure requirements?

Preparers of the form must be knowledgeable about the disclosure requirements specific to the state where the property is located. These state-specific disclosures need to be included in the report as necessary, ensuring that the analysis not only provides accurate insights but also remains in full compliance with local real estate laws and regulations.

What guidelines must be followed when completing the Worldwide ERC® Broker’s Market Analysis?

The analysis must be conducted in accordance with the procedural guidelines provided by the requesting company. These guidelines lay out the steps for contacting the homeowner, inspecting the property, submitting the report, and providing photos. Adhering to these procedural steps ensures a consistent and thorough market analysis is performed.

What does the Most Likely Sales Price (MLSP) indicate in this report?

The MLSP is an estimation of the price at which the subject property is most likely to sell. This estimation is based on the property's current "as is" condition and assumes a marketing time frame that does not exceed 120 days until a contract of sale is achieved, or as per the client's directive. It serves as a valuable metric for homeowners and potential buyers to understand the market value of the property.

Are there special considerations for properties in common interest developments in the analysis?

Yes, the report includes sections specifically designed to address the unique aspects of properties located within common interest developments (e.g., condominiums, townhouses, Planned Unit Developments (PUDs)). This includes the ratio of owners to investors, HOA fees and what they cover, as well as any special assessments. Such information is crucial as it can significantly affect the marketability and MLSP of the subject property.

Common mistakes

When filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report, there are common mistakes that can significantly impact the accuracy and usefulness of the analysis. Avoiding these mistakes is essential for providing a diligent and precise estimation of the subject property's Most Likely Sales Price (MLSP).

Incomplete Inspection – Not thoroughly inspecting the property can lead to missed details about the property’s condition, improvements, or issues that could affect the property's marketability and insurability. It's crucial to inspect the property carefully and note any locational issues, maintenance concerns, or subject conditions that may influence the MLSP.
Omitting Comparable Sales Analysis – Failing to select appropriate comparable sales within the last six months and in the same or similar market area can result in an inaccurate estimate of the property’s value. Comparable sales provide a basis for assessing the marketability and pricing strategy of the subject property.
Overlooking Market Trends – Ignoring current economic conditions, marketing concessions, major corporate moves, or layoffs in the neighborhood or broader market area can skew the perceived value of the property. Real estate markets are dynamic, and an up-to-date understanding of these factors is essential.
Incorrect Financing Information – Misidentifying probable means of financing or not accurately describing financing terms can mislead potential buyers or financial institutions, affecting the sale's feasibility.
Missing Disclosures and Required Inspections – Not listing all required, customary, and recommended inspections, or failing to disclose known issues that may affect the property’s insurability, such as present water damage or suspected structural problems, can have legal consequences and impact the sale transaction.
Failure to Adequately Address Subject Property Issues – Not checking or incorrectly checking boxes related to the property's exterior and interior condition, including evidence of deferred maintenance or damage, can result in underestimated repair and improvement costs.
Ignoring HOA Details – Not accurately detailing the Homeowner Association (HOA) fees, special assessments, or the ratio of owners to investors in common interest developments can lead to unexpected costs for potential buyers, affecting their interest or ability to purchase.

It’s critical that real estate professionals complete the Worldwide ERC® Broker's Market Analysis and Strategy Report with diligence and attention to detail. Accurate and comprehensive analysis leads to a realistic and achievable Most Likely Sales Price, ensuring a smoother transaction for both sellers and buyers.

Documents used along the form

When engaging in the intricate process of assessing and selling property, especially in contexts requiring detailed analysis like relocation, the Worldwide ERC® Broker’s Market Analysis and Strategy Report is a vital tool. However, this report is best utilized when supported by additional documents and forms that provide a comprehensive view of the property, its condition, market position, and other pertinent details affecting its sale and valuation. Below is an overview of other forms and documents often used alongside the Worldwide ERC® Broker’s Market Analysis form.

Comparative Market Analysis (CMA): This document examines the prices at which similar properties in the same area have been sold recently. It helps in setting a competitive price for the property.
Property Disclosure Form: Sellers use this form to disclose any known issues or defects with the property, which can affect the property's value or buyer's decision.
Home Inspection Report: Conducted by a professional inspector, this report provides a comprehensive overview of the condition of the property, including its structural aspects and systems.
Appraisal Report: A detailed report assessing the property's fair market value conducted by a licensed appraiser, often required by lenders to finalize a mortgage.
Title Report: This report outlines the property's ownership history, current ownership status, and any encumbrances that may affect the title such as liens or easements.
Home Warranty Agreement: Details the coverage of any home warranty plan provided as part of the sale, covering repairs or replacements of major systems and appliances.
Listing Agreement: A contract between the property owner and the real estate agent or broker detailing the terms under which the property will be marketed.
Purchase Agreement: A formal, legally binding contract between buyer and seller specifying the terms and conditions under which the property will be sold.
Final Settlement Statement: An itemized list of all the costs associated with the transaction, provided at closing, including real estate commissions, loan fees, and transfer taxes.
Lead-Based Paint Disclosure: Required for homes built before 1978, this form discloses the presence of any known lead-based paint on the property.

These documents collectively paint a full picture of a property's condition, market status, and the terms of its sale. Their role is to provide transparency, ensure legal compliance, and facilitate the fair and efficient transfer of real estate. Professionals involved in the sale or transfer of property should be familiar with these forms and prepared to manage their proper completion and submission. This ensures that all parties, including sellers, buyers, and real estate professionals, have access to the necessary information for informed decision-making and compliance with legal standards.

Similar forms

Comparative Market Analysis (CMA) Report: Similar to the Worldwide ERC® Broker’s Market Analysis, a CMA provides an in-depth comparison of the subject property to recent nearby sales to help estimate its value. Both aim at establishing a property’s competitive market price though the ERC form is more detailed regarding market strategy.
Residential Appraisal Report: This report gives an estimate of a property's market value, as defined by a licensed appraiser. Like the ERC report, it examines comparable sales, but it does so within the framework of strict appraisal standards that the ERC form expressly does not follow.
Pre-Listing Inspection Report: Though the ERC form is not a home inspection report, both this and a pre-listing inspection assess the condition of the property. The inspection report provides a detailed account of the physical state of the property, which can influence the ERC’s marketability analysis.
Homeowners Association (HOA) Disclosure: The ERC form asks for details on the HOA, similar to a standalone HOA disclosure report. Both documents detail fees and special assessments that could affect the property’s value and marketability.
Listing Agreement: These documents outline the terms under which a real estate agent will sell a property, including marketing initiatives. The ERC form’s section on marketing strategy shares similar content with the goals outlined in a listing agreement.
Property Condition Disclosure Statement: Sellers typically complete these statements to disclose the condition and problems of a property. The ERC form similarly requires disclosure of known issues that could affect the property’s value or insurability.
Zoning Compliance Report: While not a direct match, the ERC form notes the need to be aware of zoning issues which can affect a property's marketability, similar to a zoning report that verifies a property's compliance with local zoning regulations.

Dos and Don'ts

When filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report, there are important dos and don’ts to keep in mind to ensure the report is accurate and effective. Here are seven key points to remember:

Do conduct a thorough inspection of the property and its surroundings to accurately assess its condition, unique features, and any potential issues that might affect its marketability or value.
Do not skip reviewing the local market conditions, including the current supply and demand, recent sales of comparable properties, and any trends that might influence the Most Likely Sales Price (MLSP).
Do make sure to include all necessary state-specific disclosure requirements in the form to comply with local real estate regulations.
Do not estimate the MLSP based on gut feeling or assumptions. Use data-driven analysis comparing similar properties and taking into account the subject property’s unique characteristics.
Do follow the procedural guidelines provided by the requesting company regarding contacting homeowners, inspecting the property, submitting the report, and providing photos.
Do not treat the Broker’s Market Analysis as an appraisal. Remember, this analysis does not follow the Uniform Standards of Professional Appraisal Practice and should not be used as an appraisal.
Do list all improvements made by the homeowner and any locational issues or property conditions that could impact the insurability and the value of the property.

Adhering to these guidelines will help ensure that the Broker’s Market Analysis and Strategy Report is both accurate and compliant with local regulations, ultimately aiding in determining the most likely sales price for the property.

Misconceptions

When discussing the Worldwide ERC® Broker's Market Analysis and Strategy Report, several misconceptions commonly emerge due to its specialized purpose and scope within real estate transactions. Clarifying these misunderstandings can ensure both real estate professionals and homeowners navigate the process more effectively.

Misconception 1: The report serves the same purpose as a home inspection.
Unlike a home inspection, this report focuses on analyzing market conditions and property specifics to predict the Most Likely Sales Price, rather than assessing the structural integrity of the home.
Misconception 2: It's an appraisal.
This analysis is not conducted according to the Uniform Standards of Professional Appraisal Practice and should not be considered an appraisal.
Misconception 3: Only exterior property features are assessed.
Both the exterior and interior condition of the property, including any home improvements, are analyzed to estimate market value accurately.
Misconception 4: It guarantees the sale price of the property.
The report estimates the Most Likely Sales Price based on current market conditions; it does not guarantee the property will sell for this price.
Misconception 5: It is valid for any duration once completed.
Market conditions change frequently, so the estimated value provided is based on the market at the time of the analysis and is expected to be acted upon within a specified timeframe.
Misconception 6: The report is optional for relocation processes.
In many relocation scenarios, this report is a crucial component for determining compensation or benefits related to housing for the relocating employee.
Misconception 7: The process is identical across all states.
State-specific disclosure requirements may affect how the form is prepared, highlighting the importance of local real estate knowledge.
Misconception 8: Any real estate agent can prepare the report.
While many agents can complete the form, those with specific training in relocation services and the local market will provide a more accurate and meaningful analysis.
Misconception 9: The form itself is a marketing tool for the property.
The primary purpose is analysis for pricing and strategy, not marketing or promoting the sale.

Understanding these key aspects of the Worldwide ERC® Broker's Market Analysis and Strategy Report can demystify its purpose and enhance its utility in real estate transactions, particularly within the unique context of employee relocation.

Key takeaways

Filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report requires a deep understanding of the subject property, its competitive market, and potential marketability. Here are four key takeaways for using this form effectively:

The purpose of the form goes beyond a simple home inspection or appraisal. It serves to provide a comprehensive market analysis focusing on the condition, competition, and future marketability of the property. The goal is to estimate the Most Likely Sales Price (MLSP) under “as is” conditions with a marketing timeline not exceeding 120 days, unless otherwise directed by the client.
Accuracy and thoroughness in completing every section are critical. The form demands detailed information about the property—from homeowner improvements to potential issues affecting insurability and even neighborhood dynamics. These details are essential for identifying a realistic and competitive market price for the property, reflecting both its strengths and any challenges it may face on the market.
State-specific disclosures are a pivotal aspect of the report. Users of the form need to be aware of any unique disclosure requirements in their state and incorporate this information appropriately. Failing to do so could not only affect the report’s accuracy but also potentially lead to legal implications for omission of required disclosures.
Understanding and accurately reporting on financing considerations is essential. This includes identifying the most probable financing methods for future buyers, any necessary financing concessions, and potential issues that might affect the ability to secure financing for the property. Given the impact of financing on marketability and sales price, these insights are crucial for setting realistic expectations and developing a strategic marketing plan.

Overall, the Worldwide ERC® Broker's Market Analysis and Strategy Report is a valuable tool for real estate professionals. It requires a careful and detailed analysis to ensure that the subject property is accurately represented and that the most likely sales price reflects current market conditions and prospects.

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