The ERC® Broker’s Market Analysis and Strategy Report Coalition Corner: Business training tools for HR staff, real estate licensees and other service professionals in the relocation and real estate industries The ERC® Broker’s Market Analysis and Strategy Report © 2005, Employee Relocation Council/Worldwide ERC® Coalition

Program Objectives This program supplements a monthly editorial feature in ERC®’s Mobility magazine This segment will: Examine the evolution, purpose and current uses of the ERC® Broker’s Market Analysis and Strategy Report (BMA) in the context of a managed move

Introduction In a managed move (i.e., one initiated/sponsored by an employer and/or overseen by relocation management company [RMC]), formal assistance programs are typically offered to facilitate the move from location A to location B Employers and RMC representatives typically share information about multiple properties across many nationwide markets, creating a tremendous need for accurate and consistent information ERC®’s Broker Market Analysis and Strategy Report (BMA) was designed to help meet that need; and was drafted, field-tested and revised by individuals from all segments of the relocation industry, including: Corporations or employing organizations Relocation Management Companies Real Estate Brokers Transferees

Background Information BMA initially designed (in 1989) to be used in conjunction with the appraisal process during a traditional corporate homesale program (corporation or third party company bought transferee’s home to resell) As typical home-marketing and relocation assistance programs changed, form was updated in ’91 and ’96 to reflect two current, primary uses: Provide valuable information as part of the overall homesale assistance program Assist in devising home-marketing strategy

Defining the BMA What the BMA is NOT: Not an appraisal Not a home inspection

Defining the BMA What the BMA IS: Glimpse at the property from the real estate broker’s perspective Tool for diligent analysis of the subject property ‘s condition, competition and future marketability by real estate broker Broker’s estimate and report on the subject property’s: Most likely sales price “as is” and “with repairs and improvements” Most likely net price “as is” and “with repairs and improvements” assuming a reasonable marketing time (typically no more than 120 days)

Defining the BMA Three-page form supplying such information as: Likely financing Property details Local market/recent sales Generally supplied to employer and/or RMC representative and often to the transferring employee Helps provide tangible evidence to support best marketing strategy for the property

In Summary… The BMA is a tool for enabling the real estate broker to analyze and report on: Subject property’s condition Other listed properties with which the subject must compete Recently sold properties Marketability of subject property

For More Information… Copies are available via ERC®’s “forms portal” at http://www.erc.org/esolutions/esolutions.shtml More in-depth training tools on completing and using the BMA are available at www.erc.org (see the “resource center” section under the “PERC-USATM” tab, or call ERC ® at 202 857 0857)