⇉

Blank Erc Broker Market Analysis Template

The Worldwide ERC® Broker’s Market Analysis and Strategy Report serves as a vital tool for real estate brokers, enabling them to thoroughly assess a property’s condition, its competitive landscape, and its potential marketability. This form assists brokers in estimating the Most Likely Sales Price (MLSP) of a property, providing a structured approach to analyzing various factors that influence its value. It is important to note that this report is not an appraisal or a home inspection; rather, it is a comparative market analysis that should comply with state-specific disclosure requirements.

Ready to get started? Fill out the form by clicking the button below.

Open This Erc Broker Market Analysis Online

Open This Erc Broker Market Analysis Online

Content Navigation

The Worldwide ERC® Broker’s Market Analysis and Strategy Report serves as an essential tool for real estate brokers aiming to evaluate a property’s market potential. This comprehensive form guides brokers through a systematic assessment of the property in question, taking into account its current condition, competition, and future marketability. By utilizing this report, brokers can provide an informed estimate of the property’s Most Likely Sales Price (MLSP), which is based on its “as is” condition and projected marketing time, typically not exceeding 120 days. It’s important to note that this analysis does not replace a home inspection or an appraisal; rather, it offers a comparative market analysis that must adhere to specific procedural guidelines and state-specific disclosure requirements. The form requires detailed information about the property, including its location, ownership type, and any improvements made by the homeowner. Additionally, it prompts brokers to consider various factors that could influence marketability, such as neighborhood characteristics, economic conditions, and potential financing issues. The report culminates in a thorough evaluation of comparable listings and sales, ensuring that brokers have a well-rounded understanding of the market landscape.

Document 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

Frequently Asked Questions

What is the purpose of the ERC Broker Market Analysis form?
The ERC Broker Market Analysis form serves as a tool for real estate brokers to perform a thorough assessment of a property’s condition, its competition, and its potential marketability. By analyzing these factors, brokers can estimate the property’s Most Likely Sales Price (MLSP). It's important to note that this analysis is not a home inspection or an appraisal.
How is the Most Likely Sales Price (MLSP) determined?
The MLSP is calculated based on the property’s current condition and assumes a marketing period of no more than 120 days to secure a contract. Brokers should consider various factors, including recent sales of comparable properties, to arrive at this estimate.
What should be included in the property inspection?
During the property inspection, brokers should assess and document any visible issues, such as water damage, structural problems, or maintenance needs. The form includes checkboxes for various conditions and encourages detailed comments to provide a clear picture of the property’s state.
Are there any specific disclosures required?
Yes, preparers of the form must be aware of state-specific disclosure requirements. It's crucial to include any relevant disclosures that could impact the property’s insurability or marketability. This ensures compliance with local regulations and protects all parties involved.
What types of properties can be analyzed using this form?
The form can be utilized for various property types, including single-family homes, condos, townhouses, and mixed-use properties. Each property type has specific considerations that should be addressed during the analysis.
How should brokers handle marketing concessions?
Brokers should identify any marketing concessions or incentives that are being offered on competing properties. This information can be vital in determining how to position the subject property in the market. The form includes sections to recommend concessions that could enhance the property’s attractiveness to buyers.
What is the significance of the neighborhood analysis?
The neighborhood analysis helps brokers understand the broader market context in which the property exists. This includes evaluating price trends, average days on market, and the overall economic conditions affecting property sales in that area. Accurate neighborhood data is essential for a comprehensive market analysis.
What should be done if there are issues affecting financing?
If potential issues are identified that may hinder the ability to secure financing, brokers should document these concerns on the form. This could include zoning issues, HOA restrictions, or property condition problems. Addressing these issues early can facilitate smoother transactions.
What is the expiration date of this form?
The ERC Broker Market Analysis form has an expiration date of December 31, 2009. It is essential to use the most current version of the form to ensure compliance and accuracy in the analysis.

Misconceptions

Misconception 1: The ERC Broker Market Analysis form is an appraisal.

Many people mistakenly believe that the ERC Broker Market Analysis form serves as a formal appraisal of a property. In reality, it is a comparative market analysis, designed to estimate the Most Likely Sales Price based on market conditions, property condition, and competition. It does not adhere to the rigorous standards required for appraisals and should not be used as such.

Misconception 2: The form includes a home inspection.

Another common misconception is that this form incorporates a home inspection. However, the ERC Broker Market Analysis is not intended to assess the structural integrity or safety of a property. Instead, it focuses on analyzing market factors and property features to provide a sales price estimate, leaving detailed inspections to qualified professionals.

Misconception 3: The analysis guarantees a specific selling price.

Some may assume that the Most Likely Sales Price derived from this analysis guarantees that the property will sell for that amount. In truth, the estimate is based on current market conditions and is subject to change. Factors such as buyer interest, economic trends, and neighborhood dynamics can significantly influence the final sale price.

Misconception 4: All states have the same disclosure requirements.

Lastly, there is a belief that disclosure requirements are uniform across the United States. This is not the case. Each state has its own specific disclosure laws that brokers must adhere to when completing the ERC Broker Market Analysis form. It is essential for brokers to be aware of and include any state-specific disclosures relevant to the property in question.

Common mistakes

Incomplete Information: Failing to fill in all required fields can lead to delays. Ensure every section is completed, including contact details and property specifics.
Neglecting State-Specific Requirements: Each state has unique disclosure requirements. Ignoring these can result in compliance issues.
Misunderstanding the Purpose: This form is not an appraisal or home inspection. Misrepresenting its purpose can lead to misunderstandings about property valuation.
Ignoring Condition Details: Omitting observations about the property's condition, such as water damage or maintenance issues, can mislead potential buyers.
Overlooking Neighborhood Context: Failing to describe the neighborhood accurately, including market trends and economic conditions, can skew the market analysis.
Inaccurate Financing Information: Providing incorrect financing options or terms can confuse buyers and affect the property's marketability.
Not Listing Competing Properties: Forgetting to include comparable listings can weaken the analysis. Always provide relevant competing properties for context.
Skipping Marketing Concessions: Not suggesting any marketing incentives or concessions may hinder the property's appeal in a competitive market.
Failing to Update Information: If there are changes in the property or market conditions, ensure the form reflects these updates to maintain accuracy.

Additional PDF Templates

California Sdi - The EDD DE 2501 must be signed by a licensed physician or practitioner to validate the claim.

A prenuptial agreement form in Arizona is a legal document that prospective spouses use to determine the ownership of their respective assets should the marriage end in divorce or death. It's designed to protect individuals' rights and to outline responsibilities in the event of a separation. Ensure you're prepared for the future by filling out the Arizona Prenuptial Agreement form—click the button below to get started. For additional resources, you can visit All Arizona Forms.

Security Report Format - The form emphasizes the importance of vigilance in maintaining site safety.

Document Data

Fact Name	Description
Purpose	The form is designed to help brokers analyze a property's condition and marketability.
Not an Appraisal	This form is not an appraisal and should not be used as such.
Most Likely Sales Price	The broker estimates the Most Likely Sales Price based on the property's "as is" condition.
State-Specific Disclosures	Prepares must include any state-specific disclosure requirements relevant to the property.
Marketing Time	The marketing time for the property should not exceed 120 days unless otherwise directed by the client.
Inspection Guidelines	Procedures for contacting homeowners and inspecting properties must follow the requesting company's guidelines.
Disclosure Requirements	All required disclosures must be listed, including any known issues affecting the property.
Financing Options	The form allows identification of various financing options available for the property.
Neighborhood Analysis	It requires an analysis of the subject neighborhood and broader market area for comparable properties.
Expiration Date	This form expires on December 31, 2009, and should not be used after that date.

Similar forms

The Comparative Market Analysis (CMA) is a document that real estate professionals frequently use to evaluate property values based on recent sales data. Similar to the ERC Broker Market Analysis form, a CMA focuses on analyzing comparable properties in the same neighborhood to estimate a property’s worth. It provides insights into market trends and helps sellers set a competitive price while guiding buyers in making informed offers. The CMA emphasizes the importance of recent sales and active listings, akin to the ERC form's focus on estimating the Most Likely Sales Price based on property condition and marketability.

The Property Inspection Report is another document that shares similarities with the ERC Broker Market Analysis form. While the ERC form assesses a property’s marketability, the Property Inspection Report delves into the physical condition of the property. It outlines issues such as structural integrity, plumbing, and electrical systems. Both documents aim to inform stakeholders about the property’s status, but the inspection report focuses more on physical attributes and potential repairs, while the ERC form emphasizes market conditions and pricing strategies.

The Appraisal Report is a formal document prepared by a licensed appraiser, which provides a professional opinion of a property's value. Like the ERC Broker Market Analysis form, it considers the property’s condition and comparable sales. However, the Appraisal Report adheres to strict guidelines and is often required for financing purposes. While both documents aim to determine property value, the appraisal is more formalized and legally binding, whereas the ERC form serves as a strategic tool for brokers to estimate marketability.

The Seller’s Disclosure Statement is a document that sellers provide to potential buyers, detailing known issues with the property. This document parallels the ERC Broker Market Analysis form in its emphasis on transparency regarding the property’s condition. Both documents aim to protect buyers by providing essential information. While the ERC form analyzes market conditions and pricing, the Seller’s Disclosure Statement focuses on disclosing any defects or concerns that may impact the buyer’s decision.

The Lease Analysis Report is designed for rental properties and evaluates the potential income and expenses associated with leasing a property. Similar to the ERC Broker Market Analysis form, it assesses the property’s marketability, but from an investment perspective. It considers local rental rates and market demand, helping investors make informed decisions. Both documents serve to provide insights into property value, but the Lease Analysis Report focuses on income potential, while the ERC form emphasizes sales pricing.

The Market Conditions Report provides a broader overview of economic trends and real estate activity in a specific area. It shares similarities with the ERC Broker Market Analysis form by analyzing factors that influence property values, such as supply and demand, interest rates, and local economic conditions. Both documents seek to inform stakeholders about the market landscape. However, the Market Conditions Report is more comprehensive, often encompassing multiple neighborhoods or regions, while the ERC form is specific to a single property.

Understanding various legal documents related to real estate transactions is crucial for both buyers and sellers. For example, the Florida Power of Attorney form allows an individual to appoint an agent to make decisions on their behalf, which can be particularly important in situations where the principal may be unable to act. Such documents can significantly impact the management of real estate assets, ensuring that actions align with the owner’s wishes. For more information on this, you can visit https://onlinelawdocs.com.

The Home Valuation Code of Conduct (HVCC) document outlines standards for appraisals to ensure independence and accuracy. Similar to the ERC Broker Market Analysis form, it addresses the importance of accurate property valuation. However, the HVCC is regulatory in nature and focuses on the appraisal process, while the ERC form serves as a practical tool for brokers to estimate marketability and pricing strategies without the same regulatory constraints.

The Neighborhood Profile Report provides detailed information about a specific area, including demographics, schools, and amenities. This document parallels the ERC Broker Market Analysis form in its focus on location and marketability. Both documents emphasize the importance of location in determining property value. While the ERC form is specific to the property itself, the Neighborhood Profile Report offers a broader view of the surrounding area, which can significantly influence buyer decisions.

The Listing Agreement is a contract between a property owner and a real estate agent, outlining the terms of selling a property. This document is similar to the ERC Broker Market Analysis form in that both involve the sale process and the property’s market value. The Listing Agreement sets the groundwork for the sale, while the ERC form provides an analysis that supports pricing strategies and marketing efforts. Both are essential in ensuring a successful transaction.

The Investment Analysis Report focuses on the financial aspects of real estate investments, assessing potential returns and risks. It shares similarities with the ERC Broker Market Analysis form by analyzing property value and market conditions. However, the Investment Analysis Report is more detailed in its financial projections and investment metrics, while the ERC form is geared toward estimating sales prices and marketability for residential properties.