Open Editor Here

Fill in Your Erc Broker Market Analysis Form

The Worldwide ERC® Broker’s Market Analysis and Strategy Report serves as a comprehensive tool designed for real estate brokers to assess the condition, competition, and future marketability of a property. Its primary goal is to estimate the property's Most Likely Sales Price, focusing on its current condition and anticipated marketing time. It is essential to note that this analysis does not constitute a home inspection or an appraisal, and it must adhere to any state-specific disclosure requirements.

Open Editor Here

Table of Contents

When navigating the complexities of real estate transactions, particularly in the relocation sector, the Worldwide ERC® Broker’s Market Analysis and Strategy Report stands out as a pivotal tool. Tailored specifically for real estate professionals, this comprehensive form facilitates a rigorous inspection and evaluation of a property, taking into account its current state, competitive standing in the market, and overall appeal to potential buyers. It is crucial to note that this analysis is distinct from both a home inspection and a formal appraisal, operating instead as a comparative market analysis without adherence to the Uniform Standards of Professional Appraisal Practice. The aim is to provide an informed estimation of the property’s Most Likely Sales Price, considering its "as is" condition and the anticipated marketing timeframe to achieve sale closure. The form caters to the necessity for state-specific disclosures, ensuring that all legal requirements are meticulously observed. By guiding brokers through the process of property examination, report submission, and inclusion of photographic evidence, in accordance with the guidelines of the soliciting company, it ensures a well-rounded and strategic approach to market assessments. This form not only aids in pinpointing a competitive sale price but also outlines necessary property improvements, discusses financing avenues, evaluates the neighborhood and broader market conditions, and compares the subject property against current listings and recent sales to deduce a viable market strategy.

Erc Broker Market Analysis Example

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 File

File Overview

Fact	Detail
Purpose	Enables real estate brokers to conduct diligent analysis of property’s condition, competition, and marketability to estimate the Most Likely Sales Price (MLSP).
Scope	Not a home inspection or an appraisal. The analysis does not follow the Uniform Standards of Professional Appraisal Practice.
State-specific Disclosures	Form preparers need to be aware of and include any state-specific disclosure requirements.
Marketing Time	MLSP is based on “as is” condition and a marketing time not to exceed 120 days.
Procedure Guidelines	Follow the requesting company’s guidelines for contacting homeowners, inspecting the property, submitting reports, and providing photos.
Assignment Information	Details about the real estate firm, contact names, and homeowner information are required in the assignment section.
Property Characteristics	Includes details on property type, ownership, occupancy, location, and site characteristics.
Subject Condition	Inspectors must note the property’s condition, including any required repairs or improvements, and list any known issues affecting insurability.
Market and Financing	Describes financing aspects, potential selling concessions, subject neighborhood characteristics, competing listings, and details about the broader market area.

Erc Broker Market Analysis - Usage Guidelines

Filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report requires attention to detail and a thorough understanding of the property in question, as well as the surrounding market. This report is a crucial tool for real estate brokers to evaluate a property's condition, its competition in the current market, and its future marketability. Here are the steps for completing the form:

Begin with the "INFORMATION" section by entering the file number, homeowner(s) details, property address, contact numbers, and the details of the entity requesting the BMA.
In the "ASSIGNMENT" section, provide the real estate firm's details, the contact name, and their email, phone number, address, and the agent preparer's information.
Under "IMPROVEMENTS" and "CURRENT LISTING STATUS," detail any homeowner improvements to the property and whether the subject is currently listed. Fill in the listing company/agent if applicable.
For "PROPERTY TYPE," indicate the form of ownership, the occupant, and the type of subject property, including any personal property that remains.
Describe the "SUBJECT LOCATION" by choosing the appropriate location type and detailing any lot and view characteristics, along with any issues that may affect insurability.
Review "SITE CHARACTERISTICS" and "MISCELLANEOUS" sections for any issues with neighboring properties, maintenance issues, or environmental concerns and check any that apply.
In the "SUBJECT CONDITION" section, inspect and disclose the condition of the property, checking boxes that apply and describing specific concerns in the space provided.
Provide R&I (Repairs and Improvements) estimates for both interior and exterior items, calculating total estimated costs.
List all "REQUIRED," "CUSTOMARY," and "ADDITIONALLY RECOMMENDED" inspections, and detail any issues that may affect the insurability of the subject property.
Offer information regarding "FINANCING" by identifying the most probable means and any potential issues with securing financing for the property.
Detail the "SUBJECT NEIGHBORHOOD" by defining it, providing statistics, and describing the conditions and market trends within.
For "COMPETING LISTINGS" and "COMPARABLE SALES," complete each section by comparing the subject property to others within the area, detailing each with relevant sales data and comments.

Once all sections are filled out accurately, review the report for completeness and accuracy before submission. This detailed analysis will then serve as a comprehensive overview of the property’s market position and potential sales strategy.

Your Questions, Answered

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

The purpose of this report is to assist real estate brokers in undertaking a thorough analysis of a property’s condition, comparing it with other properties in the market, and determining its future marketability. By doing so, the broker can estimate the property's Most Likely Sales Price (MLSP), considering it's "as is" condition and assuming a marketing period that does not exceed 120 days until a sale contract is signed.

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

No, this report is neither a home inspection nor an appraisal. Unlike formal appraisals, which adhere to the Uniform Standards of Professional Appraisal Practice (USPAP), this comparative market analysis is a broker’s estimation of the property's likely selling price based on current market trends and comparisons. Therefore, it should not be used as an appraisal or mistaken for a detailed home inspection report.

What should preparers of this form be aware of?

Preparers need to familiarize themselves with any state-specific disclosure requirements and ensure that these are included in the form as necessary. Failing to do so could potentially lead to legal complications or misrepresentations during the property transaction process.

What guidelines should be followed when using this form?

Users should adhere to procedural guidelines provided by the requesting company regarding contacting the homeowner, inspecting the property, submitting the report, and providing photos. These guidelines ensure consistency and compliance with the requesting party’s requirements.

What does "Most Likely Sales Price" (MLSP) mean?

The MLSP is an estimation of the price at which a property is most likely to sell under its current condition within a specified timeframe, which the form sets to not exceed 120 days. This estimation is based on market analysis, including the comparison of similar properties and market conditions.

Are there specific conditions or issues that brokers need to report on this form?

Yes, brokers are required to report on a wide range of conditions and issues, including but not limited to the property’s general condition, any improvements made by the homeowner, listing status, form of ownership, and any environmental or locational factors that could influence the property's marketability and value.

What type of property information is detailed in the Worldwide ERC® Broker's Market Analysis?

The form requires detailed information about the subject property, such as type (e.g., single-family, condo, etc.), location characteristics, any known locational issues affecting insurability, and specific property attributes like lot characteristics, improvements, and style. This comprehensive data helps in creating an accurate market analysis.

How are competing listings and sales analyzed in the report?

Competing listings and recent sale transactions are analyzed by comparing them with the subject property in terms of price, location, style, condition, and other relevant characteristics. This comparison helps brokers and clients understand the subject property’s standing in relation to the current market.

What role does the property's neighborhood play in the analysis?

The report considers the subject property's neighborhood and broader market area to assess market trends, property values, and the supply-demand dynamics in that specific area. Understanding these factors is crucial for correctly positioning the property in the market and estimating the MLSP.

Are there recommendations for marketing strategies or repairs included in the report?

Yes, the report includes recommendations for necessary repairs and improvements to enhance the property's marketability and potential selling price. It may also suggest marketing strategies, including concessions or incentives, to make the property more appealing to prospective buyers.

Common mistakes

Filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report accurately is crucial for providing a comprehensive market analysis. However, individuals often make mistakes during this process. Here are ten common errors:

Not thoroughly inspecting the property before filling out the form, which can lead to incorrect or incomplete information regarding the property's condition.
Omitting state-specific disclosure requirements, potentially leading to non-compliance with local real estate regulations.
Incorrect estimation of the Most Likely Sales Price (MLSP) due to over or under-evaluating the property’s condition and marketability.
Failing to include all relevant improvements made by the homeowner, which could positively impact the property’s value.
Overlooking the importance of accurately listing all the style and structural characteristics of the home, including type, age, and material, which are crucial for comparison with similar properties.
Not properly identifying and documenting locational issues or site characteristics that may affect the insurability and desirability of the property.
Misjudging the property’s listing status, form of ownership, or current occupancy, which are vital details for the analysis.
Inaccurately reporting or entirely skipping the inclusion of required, customary, and additional recommended inspections and disclosures that could affect the property’s value and marketability.
Overlooking detailed comparison with competing listings and comparable sales including not accurately evaluating their condition, list price adjustments, and days on market.
Providing incomplete or inaccurate details on financing options and potential issues affecting the ability to secure financing for the subject property.

Addressing these errors is key to ensuring the reliability of the report and its usefulness in estimating the Most Likely Sales Price accurately.

Documents used along the form

When completing a Worldwide ERC® Broker’s Market Analysis and Strategy Report, professionals typically gather and prepare additional forms and documents to provide a comprehensive overview of the property's condition, market position, and potential sale strategy. Each of these documents plays a crucial role in the real estate transaction process, adding depth and insight into various aspects that affect the property's value and sellability.

Listing Agreement: A contract between the property owner and the real estate agency granting permission to advertise and handle the sale of a property.
Title Report: This document outlines the property’s ownership history, legal description, and any liens or encumbrances on the property.
Home Inspection Report: A thorough assessment of the property's physical condition, typically performed by a licensed inspector, identifying needed repairs and potential issues.
Property Disclosure Form: Sellers provide this form disclosing known defects and other important information about the property’s condition.
Comparative Market Analysis (CMA): An in-depth report comparing the subject property to similar properties in the area to estimate its value.
Appraisal Report: A professional evaluation performed by a certified appraiser to determine the property’s market value based on various factors, including location, condition, and recent sales of comparable properties.
Preliminary Estimate of Closing Costs: An initial calculation of the costs associated with closing a real estate transaction, including title insurance, inspection fees, and loan origination fees.
Lead-Based Paint Disclosure: A federal requirement for properties built before 1978, informing prospective buyers about the potential risk of lead-based paint.
Home Warranty Information: Details of any home warranty policy that may be offered with the sale, covering certain repairs and systems for a specified period.
HOA Documents: For properties within a homeowners association (HOA), documents outlining the rules, regulations, and financial health of the association are crucial.

In addition to the Worldwide ERC® Broker’s Market Analysis and Strategy Report, these documents collectively enable a more informed decision-making process for both sellers and buyers. By understanding the details provided in each document, parties involved can maneuver through the nuances of the real estate transaction with greater confidence and clarity. Professionals handling these documents must ensure accuracy and comprehensiveness to facilitate a smooth and successful property transfer.

Similar forms

Comparative Market Analysis (CMA) Report: Like the Worldwide ERC® Broker’s Market Analysis and Strategy Report, a Comparative Market Analysis provides an in-depth analysis of the home’s value based on current market trends and comparable property sales. Both documents serve to estimate a property's likely selling price.
Appraisal Report: Although the ERC Report explicitly states it is not an appraisal, it shares similarities in purpose with an appraisal report. Both evaluate the property's features, condition, and local market to inform on its value; however, the appraisal is a more formal valuation tool, often used by lenders.
Home Inspection Report: The ERC Report differentiates itself by not being a home inspection but still assesses the condition of the property to a certain extent, focusing more on marketability impacts rather than providing a detailed check on the property’s structure and systems.
Listing Agreement: This document outlines the contract between a homeowner and a real estate agency for the sale of the home. The ERC Report and a listing agreement both include details about the property and the terms of sale, although the ERP Report is more focused on analysis rather than contractual terms.
Real Estate Marketing Plan: Both the ERC Report and a marketing plan cover strategies for selling a property. The ERC Report’s strategy component includes analysis and recommendations that could fit within a broader marketing plan dedicated to selling a specific property.
Property Disclosure Statement: While the ERC Report requires the disclosure of known issues that may affect the property’s marketability, a Property Disclosure Statement is a comprehensive document that sellers use to disclose known defects and other relevant information about the property's condition.
Pre-Listing Home Review: Similar to the ERC’s guidelines for property inspection, a pre-listing review offers homeowners an assessment of what might be improved to enhance the property's value before listing, though it is typically less formal and not always documented.
Offer to Purchase Real Estate: This document lays out a buyer's initial bid and terms for buying the property, including financing. Insights from the ERC Report, especially regarding the most likely sales price and financial considerations, could directly influence the crafting of an offer.
HOA Disclosure Packet: For properties in a homeowners association, this packet provides buyers with the necessary disclosures regarding the HOA. The ERC Report similarly necessitates disclosure of relevant HOA fees and special assessments, aligning both documents in the importance of transparent financial obligations.
Zoning Compliance Report: While not focused on zoning, the ERC Report includes considerations such as location, potential environmental constraints, and other factors that might also be addressed within a zoning compliance review, focusing on how such elements might influence a property’s marketability or value.

Dos and Don'ts

When completing the Worldwide ERC® Broker's Market Analysis and Strategy Report, it's important to accurately reflect the property’s current market status and future potential. Here are key dos and don'ts to consider:

Do conduct a thorough inspection of the property to accurately report its condition, noting any improvements made by the homeowner.
Do be aware of and include any state-specific disclosure requirements as necessary, ensuring compliance and avoiding potential legal issues.
Do accurately estimate the Most Likely Sales Price (MLSP) based on the property's “as is” condition and consider a reasonable marketing time that does not exceed 120 days unless otherwise directed.
Do thoroughly document any locational issues, site characteristics, or miscellaneous factors that could affect the property's insurability, marketability, or value.
Don't forget to provide a detailed account of any known issues that may affect the subject property's insurability or any required, customary, and additionally recommended inspections.
Don't omit any information related to the financing of the property, including the most probably means of financing and any issues that could affect securing financing.
Don't neglect neighborhood and broader market area analyses, including information on competing listings and comparable sales to accurately position the subject property in the current market.
Don't overlook detailing any external factors such as economic conditions, major corporation movements, and neighborhood trends that might influence the marketability of the property.

Completing the ERC Broker Market Analysis with diligence and attention to detail ensures the reliability of your evaluation, meeting both the needs of the homeowner and the standards of the industry.

Misconceptions

When it comes to the Worldwide ERC® Broker’s Market Analysis and Strategy Report, it's important to clear up several common misconceptions for everyone involved in the process of buying, selling, or analyzing real estate property. Here are seven of the most prevalent misunderstandings:

Misconception 1: The report serves the same purpose as a home inspection. The truth is, the Broker’s Market Analysis isn't a home inspection; it’s focused on assessing the property’s marketability, not its condition.
Misconception 2: It’s an appraisal. This analysis isn’t performed following the Uniform Standards of Professional Appraisal Practice. Hence, it should not be viewed or used as an official appraisal.
Misconception 3: State-specific disclosure requirements aren’t necessary. Contrary to this belief, the report must include any state-specific disclosures as required, emphasizing the importance of tailoring each report to its jurisdiction.
Misconception 4: The Most Likely Sales Price (MLSP) does not consider the property's "as is" condition. On the contrary, the MLSP estimation is indeed based on the property’s current condition and a reasonable selling period, typically not exceeding 120 days.
Misconception 5: The preparer doesn't need to follow any procedural guidelines. The preparer must adhere to specific procedural guidelines, which include contacting the homeowner, inspecting the property, and how to submit the report.
Misconception 6: All properties are assessed equally. The form accounts for a variety of factors, including location, property type, and improvements made, indicating a tailor-made approach to each evaluation.
Misconception 7: Financing details aren’t considered in the analysis. The report includes sections on the most probable means of financing the sale and any issues that might affect securing financing, showing the comprehensive nature of the analysis.

Understanding these nuances ensures that users of the form can better interpret its intended use and limitations. This clarity is crucial for all parties involved in the real estate transaction process to make informed decisions based on the ERC Broker’s Market Analysis and Strategy Report.

Key takeaways

The Worldwide ERC® Broker’s Market Analysis and Strategy Report serves a critical role in the real estate transaction process, providing a detailed analysis of a property's standing in the current market. This analysis helps in estimating the most likely sales price of a property without the need for a formal appraisal. To effectively utilize this form and ensure a comprehensive understanding, here are ten key takeaways:

The primary goal of this report is to conduct a thorough analysis regarding the condition, competition, and future marketability of the subject property, aiming to estimate its Most Likely Sales Price (MLSP).
It is crucial to acknowledge that this form does not equate to a home inspection or an appraisal. The comparative market analysis conducted through this form does not adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).
Brokers should be mindful of including any state-specific disclosure requirements in the form to comply with local regulations fully.
The MLSP determined by this analysis is based on the property’s condition "as is" and the expectation that a sale will not exceed 120 days from listing to contract.
For accurate and effective completion, procedural guidelines around contacting homeowners, property inspection, report submission, and providing necessary photographs should be followed as directed by the requesting company.
Understanding and accurately reporting the property’s details, such as homeowner improvements, current listing status, and ownership form, are crucial for an accurate analysis.
Identifying and reporting any locational issues or site characteristics that could affect the insurability and value of the property is essential for a transparent analysis.
The analysis requires a deep dive into potential issues affecting the marketability or value of the property, encompassing style, improvements, parking availability, and other unique characteristics.
Financing considerations, including the most probable means of financing and any necessary concessions to secure a sale, are to be identified and clearly described in the report.
Finally, the report demands an in-depth comparison of the subject property against current market listings and recent sales to gauge its competitiveness accurately.

Effectively filling out and using the ERC Broker Market Analysis form is a multifaceted process that demands attention to detail, a comprehensive understanding of the local real estate market, and adherence to procedural guidelines. By doing so, real estate professionals can provide valuable insights into the property’s market position, aiding in the estimation of its most likely selling price.

Please rate Fill in Your Erc Broker Market Analysis Form Form

4.67

(Exceptional)

3 Votes

Other PDF Forms

Progressive Logo Transparent - The insurance identification card is not just a formal requirement but a beacon of preparedness, embodying detailed coverage and vehicle identification.

Shared Well Agreement - A binding agreement detailing the sharing of well water supply and maintenance costs between neighboring parties.