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Free Erc Broker Market Analysis PDF Template

The Worldwide ERC® Broker’s Market Analysis and Strategy Report is a tool created for real estate brokers to facilitate a thorough evaluation of a property's current condition, its competitiveness in the market, and its future marketability prospects. This comprehensive analysis aids brokers in determining the property's Most Likely Sales Price (MLSP), based on its "as is" condition and expected time to sell. Importantly, this process is distinct from a formal appraisal or home inspection, offering a unique perspective on a property’s market position without adhering to the Uniform Standards of Professional Appraisal Practice.

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Free Erc Broker Market Analysis PDF Template

Outline

In the complex and dynamic realm of real estate, the Worldwide ERC® Broker’s Market Analysis and Strategy Report emerges as a critical tool, designed to orchestrate a meticulous examination of a property's current state, its competitive standing in the market, and its prospects for future saleability. This document steers clear of being mistaken for a traditional home inspection or an appraisal, delineating its unique position by not adhering to the Uniform Standards of Professional Appraisal Practice. Instead, it offers a tailored comparative market analysis aimed at predicting the property's Most Likely Sales Price (MLSP), considering its "as is" condition and the envisaged timeframe to draft a contract of sale, typically not exceeding 120 days. Brokers are steered through various procedural guidelines, encompassing homeowner interaction, property inspection, report submission, and photo provision in accordance with the requesting company's specifications. Notably, this analysis integrates state-specific disclosure requirements, ensuring compliance and thoroughness. The essence of this form is not only to facilitate a structured analytical approach but also to encapsulate a comprehensive view of the subject property through detailed sections including information disclosure, property condition, neighborhood analysis, competitive listing comparisons, and financial considerations, thereby equipping real estate professionals with a nuanced understanding needed for effective market positioning and strategic decision-making.

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Worldwide ERC® Broker’s Market Analysis and Strategy Report

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

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

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

INFORMATION

File #:

Homeowner(s):

Property Address:

Home Phone #:

City, State, Zip:

Work Phone #:

BMA Requested by (Co. & Contact):

e-mail:

Requesting Co. Address:

Phone #:

City, State, Zip:

Fax #:

ASSIGNMENT

Real Estate Firm:

Contact Name:

e-mail:

Real Estate Firm Address:

Phone #:

City, State, Zip:

Fax #:

Agent Preparer:

Phone #:

Homeowner’s purchase price: $

Date purchased:

INFORMATION

Improvements made by homeowner if any:

Is the subject currently listed?

□ Yes

□ No

Listing Company/Agent:

Form of Ownership:

□ Fee Simple

□ Leasehold

Occupant:

□ Homeowner

□ Tenant

□ Vacant

Type: □ Condo

Coop

PUD

Single Family

Mixed Use

Town House

Modular

Mobile Home

SUBJECT

□ Other:

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

Subject’s location type:

□ Urban

□ Suburban

□ Distant suburban

□ Rural

□ Farm

□ Resort

Lot Characteristics: positive/negative (explain):

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

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

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

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

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

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 1 of 6

SUBJECT CONDITION

INSPECTIONS/DISCLOSURES

Property Condition

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

□Décor of home is personalized or dated:

□Incomplete construction:

□Evidence of past or present water damage:

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

□Oil tank (abandoned):

□Oil tank (in use):

□Underground storage tank (abandoned):

□Underground storage tank (in use):

□Synthetic stucco:

□Suspected structural problems:

□Evidence of odor:

□Evidence of pet damage:

□Evidence of deferred maintenance: Additional Comments:

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

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

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

Customary:

Additionally recommended for the subject property:

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

List all required disclosures:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 2 of 6

Identify the most probable means of financing for the subject:

□ FHA

□ VA

□ Cash

□ Conventional mortgage—conforming or jumbo

□ Other:

Describe the terms of the financing type identified above:

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

□ Points:

□ Closing Costs:

□ Other:

FINANCING

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

□ Yes □ No

If yes, comment:

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

□ N/A

Owners:

Investors:

(total MUST equal 100%)

HOA Fees: $

How often are they paid?

□ Monthly

□ Quarterly

□ Semi-annually

□ Annually

Items included in HOA Fees: □ Trash Pick-up

□ Landscaping

□ Snow Removal

□ Exterior Building Maintenance

□ Security/Concierge Services

□ Insurance

□ Taxes

□ Amenities

□ Common Area Maintenance

WATER

SEWER

□ Other:

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

□ Yes

□ No

If yes, indicate the amount of assessment: $

Describe what the special assessment covers:

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

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

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

Subject neighborhood is defined as:

Price Range: $

to $

Property Values are: □ Increasing

% in past

months

□ Stable

Average Days-on-Market (list to contract)

days

□ Decreasing

(# of days)

% in past

months

Calculate the months supply of inventory (Absorption Rate):

Type of competing listings

New Homes

Resale

Number of active listings ÷

Avg. number of sales per month

Number of months needed

REO/Foreclosure

for the last 6 months

to sell existing inventory

Corporate

Total (MUST equal 100%)

100%

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

CONDITIONS

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

MARKET

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

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

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

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

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

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

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

Rev. 01/07/2009

This Form Expire 12/31/2009

Page 3 of 6

COMPETING LISTINGS

ITEM

SUBJECT

Competing Listing #1

Competing Listing #2

Competing Listing #3

Address, City

Current MLS #

Proximity to Subject

Original List Price

Current List Price

Seller Concessions

Last Price Change Date

Days-on-market (DOM)

from original list date

Previous listing history for last

Orig. List Price $

Last List Price $

Last List Price

12 months

DOM:

Style

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

Exterior Finish

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

(Check all that apply)

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Hardcoat Stucco

□ Other:

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

Roof Type

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

(Check all that apply)

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Other:

□ None

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Attached

Car Storage/Type

□ Detached

□ Built-in

(Check all that apply)

□ Carport

□ Attached

□ Detached

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

Year Built

Lot Size

Appx. Gross Living Area

Sq. Ft

Above Grade Room Count

Tot

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Basement

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

□ Full

(Check all that apply)

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

Basement Finish

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

□ None

□ Partial

Attic (Check all that apply)

□ Crawl Space

□ Full

□ Crawl Space

□ Full

□ Crawl Space

□ Full

□ Crawl Space

□ Full

Attic Access

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Pull down steps

Bonus Room

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

Detached Structures

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

(Check all that apply)

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Other:

Deck/Patio

Pool/Spa

Fireplace(s)

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

Water Supply

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

Waste Disposal

□ Cesspool

□ Other:

Type of Air Conditioning

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

□ Window/Wall

□ Heat Pump

(Check all that apply)

□ Other:

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

Type of Heating System

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

(Check all that apply)

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Other:

Location

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Lot Characteristics

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

View

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Floor Plan Utility

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Ext. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Int. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Overall Rating of Listings as

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Compared to Subject

Listing #1: Date inspected:

Comments:

Listing #2: Date inspected:

Comments:

Listing #3: Date inspected:

Comments:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 4 of 6

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

COMPARABLE SALES

ITEM

SUBJECT

Comparable Sale #1

Comparable Sale #2

Comparable Sale #3

Address, City

MLS #

Proximity to Subject

Original List Price

Final List Price

Sales Price

Seller Concessions

Under Contract Date

Closing Date

Days-on-market (DOM)

from original list date

Previous listing history for last

Orig. List Price $

Last List Price $

12 months

DOM:

Style

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Brick

□ Wood

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

□ Composite

□ Stone

Exterior Finish

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

□ Aluminum

□ Stucco

(Check all that apply)

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Synthetic Stucco

□ Vinyl

□ Hardcoat Stucco

□ Other:

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

□ Composite

□ Slate

Roof Type

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Tar

□ Tile

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

□ Wood shake

□ Tin

(Check all that apply)

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Asphalt shingle

□ Copper

□ Other:

□ None

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Garage

# of Cars

□ Attached

Car Storage/Type

□ Detached

□ Built-in

(Check all that apply)

□ Carport

□ Attached

□ Detached

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

□ Other:

□ Built-in

Year Built

Lot Size

Appx. Gross Living Area

Sq. Ft

Above Grade Room Count

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Tot.

Brms.

Baths

Basement

□ None

□ Partial

□ None

□ Partial

□ None

□Partial

□ None

□ Partial

□ SLAB

□ Full

□ SLAB

□ Full

□ SLAB

Full

□ SLAB

□ Full

(Check all that apply)

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

□ Crawl Space

WALK-OUT

Basement Finish

□ Full

□ Partial

□ Full

□ Partial

□ Full

□ Partial

□ Full

□ Partial

Attic (Check all that apply)

□ Crawl Space

□ None

□ Crawl Space

□ None

□ Crawl Space

□ None

□ Crawl Space

□ None

Attic Access

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Walkup

□ Hatch

□ Pull down steps

Bonus Room

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

□ None

□ Barn

Detached Structures

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

□ Guest House

□ Studio

(Check all that apply)

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Pool House

□ Shed

□ Other:

Deck/Patio

Pool/Spa

Fireplace(s)

Water Supply

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Public

□ Private

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Community

□ Well

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

□ Septic

□ Sewer

Waste Disposal

□ Cesspool

□ Other:

Type of Air Conditioning

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ None

□ Central

□ Window/Wall

□ Heat Pump

□ Window/Wall □ Heat Pump

(Check all that apply)

□ Other:

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ None

□ Gas

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

□ Propane

□ Electric

Type of Heating System

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Radiant

□ Oil

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

□ Wood stove

□ Solar

(Check all that apply)

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Base Board

□ Coal

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Heat pump

□ Radiator

□ Other:

Location

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Lot Characteristics

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

View

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Floor Plan Utility

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Ext. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Int. Condition’s Appeal

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Overall Rating of Sales as

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

□ Superior

□ Similar

□ Inferior

Compared to Subject

Sales #1: Inspected? □ Yes

□ No Comments:

Sales #2: Inspected?

□Yes

□ No Comments:

Sales #3: Inspected?

□Yes

□ No Comments:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 5 of 6

MOST LIKELY	BUYER(S)
MARKETING STRATEGY
VALUE	ANALYSIS
SIGNATURES

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

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

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

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

Additional Comments:

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

File #:	Real Estate Firm:

Real Estate Firm Tax ID #:	Date of Inspection:

Contact Name:	Agent Preparer Name:

Contact Signature:	Agent Preparer Signature:

Rev. 01/07/2009

This Form Expires 12/31/2009

Page 6 of 6

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Document Attributes

Fact Name	Description
Purpose of the Report	The Worldwide ERC® Broker's Market Analysis and Strategy Report is aimed at helping real estate brokers provide a detailed assessment of a property's condition, competition, and marketability to estimate its Most Likely Sales Price.
Not an Appraisal	This report is not a formal appraisal and should not be considered as such. It does not follow the Uniform Standards of Professional Appraisal Practice, serving instead as a comparative market analysis.
State-Specific Disclosure Requirements	Brokers must be aware of and include any relevant state-specific disclosure requirements within the form, ensuring compliance with local regulations.
Procedural Guidelines	The report outlines specific procedural guidelines that include contacting the homeowner, inspecting the property, submitting the report, and providing photos, all of which should align with the requesting company's instructions.

How to Fill Out Erc Broker Market Analysis

Once you're ready to begin the process of evaluating a property for its market analysis, the Worldwide ERC® Broker's Market Analysis and Strategy Report form will be your guide. This comprehensive form helps to ensure a thorough review of the property's condition, its competition, and potential marketability, leading to an accurate estimation of the property's Most Likely Sales Price (MLSP). It's important to remember, this form is not a formal appraisal but a market analysis. Detailed and accurate completion of this form is essential for providing valuable insights.

Gather all necessary information about the property, including the homeowner's details, property address, and contact information for both the homeowner and the real estate firm handling the analysis.
Review any improvements made by the homeowner and whether the property is currently listed. Document the listing company/agent if applicable.
Specify the form of ownership, type of occupant, and the property type, noting any personal property that remains with the house.
Assess and record the subject's location type and lot characteristics, mentioning both positive and negative aspects. Note any locational issues that may affect the property's insurability.
Check and detail site and miscellaneous characteristics that are relevant to the property, including accessibility, maintenance issues, and proximity to various facilities or environmental concerns.
Conduct and document a thorough analysis of the property's condition, highlighting any specific issues observed with decor, construction status, water damage, or any other concerns. List and estimate the cost of recommended repairs and improvements, both interior and exterior.
Identify required, customary, and additionally recommended inspections for the property, alongside necessary disclosures.
Outline the most probable means of financing for the subject property, including details on financing types, terms, and any necessary concessions.
Define the subject neighborhood and broader market area, providing details on property values, inventory, and economic conditions that may influence marketability.
Compare the subject property with competing listings in both the micro and macro market areas, detailing each listing’s characteristics, pricing history, and market performance.
Select and analyze comparable sales within the market area, noting details like sales price, days on market, and how each compares to the subject property.

After accurately filling out and reviewing the form for completeness and accuracy, the next step involves submitting it to the requesting company. This process might include attaching relevant photos of the property and any additional documentation required by company guidelines. Ensuring that the report is accurate, thorough, and submitted in a timely manner will facilitate a smooth analysis process for all parties involved.

More About Erc Broker Market Analysis

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

The purpose of this report is to help real estate brokers conduct a thorough analysis of a property's condition, its competition, and forecast its marketability. Using this analysis, brokers can estimate the property's Most Likely Sales Price (MLSP). This report is not a home inspection or an appraisal and cannot be used as such.
Can this form be considered an appraisal?

No, the comparative market analysis provided in this form does not comply with the Uniform Standards of Professional Appraisal Practice (USPAP) and explicitly cannot be regarded or used as an appraisal for any purpose. It is intended solely for estimating the Most Likely Sales Price based on current conditions and market factors.
What are procedural guidelines mentioned in the form?

The form outlines specific procedural guidelines including contacting the homeowner, inspecting the property, how to submit the report, and providing photos. These procedures must adhere to the guidelines provided by the requesting company. Furthermore, it expects an estimation of the property value considering its "as is" condition and an anticipated marketing time not exceeding 120 days, unless directed otherwise by the client.
Are there any state-specific disclosure requirements involved?

Yes, the preparers of the form are required to be aware of and include any state-specific disclosure requirements applicable to the property in focus within this form. This ensures that the analysis adheres to local regulations and standards, providing accurate and compliant information to potential buyers or sellers.

Common mistakes

When filling out the Worldwide ERC® Broker's Market Analysis and Strategy Report, certain common missteps can greatly affect the accuracy and utility of the analysis. Avoiding these mistakes is crucial for real estate professionals to estimate the Most Likely Sales Price (MLSP) effectively. Below is a detailed examination of ten frequent errors observed in the completion of this form.

Failing to understand the purpose of the form can lead to misinterpretation of its sections. It is not a home inspection or an appraisal but a comparative market analysis.
Omitting state-specific disclosure requirements, which can affect the legal standing of the analysis and potentially lead to liabilities.
Incomplete inspection of the property, leading to inaccuracies in reporting the condition of the property and its features.
Not following client-specific procedural guidelines for contacting the homeowner, inspecting the property, submitting the report, and providing photos can result in a report that doesn’t meet the client's needs.
Incorrect estimation of the subject property’s Most Likely Sales Price, especially if not based on a diligent analysis of the property's condition, competition, and future marketability.
Overlooking necessary improvements or not providing accurate estimates for recommended repairs and improvements can mislead the seller or buyer.
Neglecting to check all applicable boxes in the location and site characteristics sections, which leads to an incomplete understanding of factors affecting marketability or value.
Misidentifying the subject neighborhood or broader market area, thereby comparing the subject property to inaccurate benchmarks.
Assuming financing types without proper justification or failing to anticipate issues that may affect securing financing for the property.
Inadequately analyzing comparables in terms of proximity, list price adjustments, and days on market, resulting in a skewed market value assessment.

Prevent these mistakes by:

Diligently reviewing and understanding all sections of the form before filling it out.
Making sure to include all necessary state-specific disclosures and client-specific requirements.
Conducting a thorough inspection of the property and noting down all important details accurately.
Being meticulous with numbers, especially concerning estimates for repairs and improvements.
Using accurate and recent data for comparables and making sure they align closely with the subject property.

By steering clear of these mistakes, real estate professionals can provide a more precise and useful Broker's Market Analysis, ensuring better-informed decisions for their clients.

Documents used along the form

When preparing a Worldwide ERC® Broker’s Market Analysis and Strategy Report, it's important to gather comprehensive information to accurately estimate the most likely sales price of a property. This involves not only analyzing the property itself but also considering various external factors that might influence its marketability and value. To facilitate this process effectively, several other forms and documents are commonly used in conjunction with this analysis. They each serve a distinct purpose, contributing to a thorough understanding of the property's potential in the current real estate market.

Listing Agreement: This document formalizes the relationship between the property owner and the real estate agent or broker. It grants the agent permission to market and sell the property, detailing the duration of the agreement and the commission structure.
Property Disclosure Form: Sellers use this form to disclose known issues or defects with the property. This is crucial for assessing the condition and determining any impact on the value or marketability.
Comparative Market Analysis (CMA): Although the ERC Broker Market Analysis contains elements of a CMA, a separate, more detailed CMA provides a deeper comparison of the subject property to similar properties in the area that have recently sold, are currently for sale, or were taken off the market without being sold.
Home Inspection Report: This report provides a detailed examination of the property’s condition, identifying any issues or potential repairs needed. It is essential for understanding the state of the property and any investment required to prepare it for sale.
Appraisal Report: While the ERC Broker Market Analysis is not an appraisal, obtaining a professional appraisal can offer a definitive value estimate based on an in-depth analysis of the property and market conditions. This can be particularly useful for financing and negotiation processes.
Homeowners Association (HOA) Documents: For properties in an HOA, these documents provide insight into the association’s rules, regulations, and fees. Understanding these factors is important for evaluating any impact on the property’s marketability and value.
Title Report: This report clarifies the property's ownership and any liens, encumbrances, or easements that may affect the sale. Clearing title issues is essential before a property can change hands.

Together, these documents provide a comprehensive understanding of the property's desirability and worth in the current market. Each plays a vital role in crafting a strategy to effectively market and sell the property, ensuring both the seller and the broker can make informed decisions throughout the sales process.

Similar forms

Comparative Market Analysis (CMA): Much like the Worldwide ERC® Broker's Market Analysis, a CMA is created to provide an assessment of a home's value based on the current market. Both documents analyze similar properties, market trends, and pricing to suggest a Most Likely Sales Price. However, the ERC form is more detailed, focusing also on marketability, condition inspections, and strategy for selling, beyond just price comparison.
Appraisal Report: Although the Worldwide ERC® document specifies that it is not an appraisal, both share similarities in evaluating the worth of a property. Appraisals are more formal and are typically used by lenders to determine loan amounts. They follow strict guidelines under the Uniform Standards of Professional Appraisal Practice, unlike the ERC analysis which is more flexible and focused on market strategy.
Home Inspection Report: The ERC analysis includes a section for the property's condition akin to a home inspection report, which assesses the physical state of a structure. While the ERC form is not a home inspection report and doesn't cover as in-depth an assessment, it does require the agent to note any observable issues, repair needs, or other conditions that could influence the property's marketability and value.
Listing Agreement: Listing agreements outline the contract between a homeowner and a real estate agency to sell a property. Similar to the ERC's Broker Market Analysis, listing agreements contain information about the property, homeowner details, and terms of the sale process. The ERC form goes further, providing a detailed market analysis and sales strategy, whereas a listing agreement primarily focuses on the agreement terms, commissions, and listing details.

Dos and Don'ts

When filling out the Erc Broker Market Analysis form, it's important to follow guidelines to ensure accuracy and compliance. Below are five things you should do and five things you shouldn't do.

Do:

Review the purpose of the report carefully. Understand it's not a home inspection or an appraisal but a diligent analysis to estimate the Most Likely Sales Price.
Check for any state-specific disclosure requirements and include them appropriately in the form, ensuring legal compliance.
Follow the procedural guidelines for contacting homeowners, inspecting the property, submitting the report, and providing photos as directed by the requesting company.
Accurately record improvements made by the homeowner and any issues of which you are aware that may affect the insurability or marketability of the property.
List all required, customary, and additionally recommended inspections to provide a comprehensive understanding of the property’s condition.

Don't:

Omit any known issues or locational characteristics that could affect the marketability or value of the subject property, as full disclosure is crucial.
Use the form as an appraisal report, as it's not intended or permitted to serve in that capacity.
Exceed the marketing time of 120 days to a contract of sale unless otherwise directed by the client when estimating the Most Likely Sales Price.
Ignore the instructions about the most probable means of financing for the subject property and any anticipated issues that may affect the ability to secure financing.
Forget to detail any special assessments covered by the HOA and their impact, if applicable, on the subject property.

Misconceptions

When it comes to understanding the Worldwide ERC® Broker’s Market Analysis and Strategy Report, there are several misconceptions that can lead to confusion about its purpose and usage. Here are six common misunderstandings and the realities behind them:

Misconception #1: The ERC Broker Market Analysis form is the same as a home inspection.

This form is not a home inspection but rather an analysis designed to estimate the Most Likely Sales Price (MLSP) of a property, based on its condition, competition, and future marketability.

Misconception #2: It serves as an official appraisal.

Contrary to some beliefs, this comparative market analysis does not meet the Uniform Standards of Professional Appraisal Practice and should not be considered an appraisal under any circumstances.

Misconception #3: The form is universally standard without need for adjustment.

While the form provides a comprehensive framework, preparers must be aware of state-specific disclosure requirements and adjust the form accordingly to include all necessary information.

Misconception #4: The analysis is solely focused on the current state of the property.

In addition to the property's current condition, the analysis also involves evaluating its competition within the market and the overall marketability to accurately estimate the Most Likely Sales Price.

Misconception #5: The property's listing status does not impact the analysis.

Whether the property is currently listed or not is an essential aspect of the analysis, providing insight into its marketability and influencing the strategy for its sale.

Misconception #6: Financing considerations are outside the scope of this analysis.

The form includes sections to identify probable financing means and any issues that might affect securing financing for the property, highlighting the importance of financing in determining the property’s marketability and sales strategy.

Understanding the actual purposes and scopes of the Worldwide ERC® Broker’s Market Analysis and Strategy Report can guide real estate professionals in utilizing it effectively for property sales strategy and market analysis.

Key takeaways

The Worldwide ERC® Broker's Market Analysis and Strategy Report plays a critical role for real estate brokers aiming to estimate the Most Likely Sales Price (MLSP) for a property. Here are six key takeaways regarding the form's completion and utilization:

It's important to understand that this analysis is neither a home inspection nor an appraisal. The comparative market analysis is designed to provide a thoughtful, market-based estimate of a property's selling price under its current condition and within a reasonable selling period, typically not exceeding 120 days.
Brokers must be mindful of including any state-specific disclosure requirements within the form. Since real estate regulations can vary significantly from one state to another, acknowledging and incorporating these disclosures ensures compliance and protects all parties involved.
Part of the process involves a thorough inspection of the property. This inspection should cover the property's condition, potential improvements made by the homeowner, and any other factors that could influence its marketability or insurability.
The analysis requires a deep dive into the local real estate market, comparing the subject property against current listings and recent sales within the same neighborhood. This comparison helps in determining the MLSP by highlighting differences in location, condition, and features of the properties in question.
Recommendations for repairs and improvements are a significant aspect of the form. These suggestions, along with estimated costs, can guide homeowners on the most impactful changes to enhance the property's appeal and market value.
Finally, the form encourages evaluating broader market trends and potential financing options for potential buyers. Understanding the types of financing most likely to be used can influence the sale process and offers made on the property.

Following these guidelines when completing the Worldwide ERC® Broker's Market Analysis and Strategy Report can significantly enhance the accuracy of pricing estimates and contribute to more successful real estate transactions.

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