The ERC Broker Market Analysis form, formally the Worldwide ERC Broker’s Market Analysis and Strategy Report (version BMA 2022.1), is completed by inspecting the employee’s home, pulling separate sets of comparable closed sales and active competing listings, applying dollar adjustments to reach a Most Likely Sales Price, adding a marketing plan, and submitting the finished form through the Relocation Management Company’s portal.1Worldwide ERC. Worldwide ERC Broker’s Market Analysis and Strategy Report Every section has to be internally consistent: totals need to match itemized entries, percentages need to add to 100%, and narrative descriptions need to line up with the boxes you checked.
Where the Form Comes From
In almost every case, the RMC assigning the work sends the form to you electronically through its own platform, pre-populated with the employee’s name and property address. You don’t need to hunt it down.
If you do need independent access, the form lives in the WERC Forms Portal, which requires a subscription.2Worldwide ERC. Forms Portal A Real Estate Broker membership runs $710 per year; a Relocation Appraiser membership is $410.3Worldwide ERC. Join WERC Some RMCs still refer to the document as “the BMA,” but the structure and required fields match the current version regardless of what anyone calls it.
Property Description and Condition
Start with a physical inspection of the home. The property description section wants objective structural details: siding material, roof type and age, foundation, total square footage, and lot size. Record the room count, specifically bedrooms and bathrooms classified by local standards. Capture the amenities that matter to buyers in the area, including finished basements, fireplaces, updated kitchens, garages, and outdoor features such as decks or pools.
Then rate condition. The Fannie Mae Uniform Appraisal Dataset uses a C1 through C6 scale — C1 for new construction with no depreciation, C4 for a home with normal wear needing only minor cosmetic attention, and C6 for a property with structural deficiencies requiring major rehabilitation.4Fannie Mae. Property Condition and Quality of Construction of the Improvements The BMA’s rating terminology may differ slightly, but the goal is the same: give a reviewer who has never seen the home a reliable read on its condition.
Log defects specifically. Not “needs work,” but “roof shingles curling on south-facing slope, estimated replacement cost $8,500.” Vague language is one of the fastest ways to get a BMA sent back. The RMC uses your notes to decide what repairs to require before listing, so concrete descriptions with dollar figures save everyone a revision cycle.
Inspections That May Need to Come With the Form
Depending on the RMC’s requirements, a general home inspection may need to accompany submission. Federal relocation contracts governed by the General Services Administration require at minimum a general inspection, with specialized inspections triggered by property type or initial findings.5U.S. General Services Administration. Employee Relocation Solution Requirements Common add-ons include pest and termite, radon, lead-based paint, and water quality or well and septic inspections. All must be performed by licensed professionals in accordance with local requirements.
The GSA framework also requires that any issues flagged in an inspection report that could affect marketability or value be disclosed in the BMA itself.5U.S. General Services Administration. Employee Relocation Solution Requirements Even with a private-sector RMC that doesn’t follow GSA rules, disclosing known issues protects you and prevents surprises after the buyout closes. Check the RMC’s instructions before you schedule anything; some coordinate inspections themselves.
Comparable Sales and Competing Listings
This is where most of the analytical work happens, and where most rejections originate. You need two separate data sets: closed sales (properties already sold) and active competing listings (properties currently for sale that a buyer would weigh against the subject home). Each entry requires verified data: MLS number, address, square footage, sale price or list price, days on market, and the transaction date.
Pick properties that genuinely mirror the subject in size, style, age, and condition. Proximity matters. The same neighborhood or subdivision is ideal, and you should generally stay within a one-mile radius unless the area is rural or comparable inventory is too thin. If you have to reach farther, explain why in the narrative. A three-bedroom ranch in a similar subdivision two miles away beats a four-bedroom colonial across the street.
Do not mix the two categories. Entering a sale price in the active listings section, or a current list price in the closed sales section, is one of the most common and costly errors on the form.6Instafill.ai. Broker’s Market Analysis Every comparable also needs an MLS number; a missing one is another routine reason for rejection.
Market Conditions
Beyond individual comparables, the BMA asks you to describe the broader local market. This gives the RMC context for evaluating your price recommendation.
- Inventory levels: how many active listings compete with the subject property, and the current months-of-supply figure for the area.
- Absorption rate: active listings divided by average monthly sales. Calculate carefully; the total must match the itemized data entered elsewhere on the form.
- Price trends: increasing, stable, or declining. Pick one. Marking both “increasing” and “stable” will send the form back.
- Owner-to-investor ratio: the split between owner-occupied and investor-owned properties, which must total 100%.
Local employment and economic factors round it out. If a major employer recently announced layoffs, or a new facility is bringing jobs to the area, say so. These details help the RMC understand why the market is moving in a particular direction and whether that direction is likely to hold through the marketing period.
Calculating the Most Likely Sales Price
The Most Likely Sales Price (MLSP) is the central output of the form: the price the home will most likely command in an arm’s-length transaction within a marketing window that generally cannot exceed 120 days to a signed contract of sale, unless the RMC directs otherwise.1Worldwide ERC. Worldwide ERC Broker’s Market Analysis and Strategy Report It reflects the property’s current “as is” condition, not what it might be worth after renovations.
Apply dollar adjustments to each comparable sale to account for differences from the subject. If a comparable has a third garage stall the subject lacks, subtract the local market value of that feature. If the subject has a renovated kitchen the comparable doesn’t, add value. Adjustments have to reflect what buyers in that specific market actually pay for particular features, not replacement cost and not a gut estimate.
Once every comparable is adjusted, reconcile the adjusted values into a single figure. This is not a simple average. Weight the comparables that are most similar to the subject and required the fewest adjustments. A comparable that needed $40,000 in adjustments tells you less than one that needed $3,000. The MLSP becomes the basis for the corporation’s buyout offer, so the math has to hold up under review.
Marketing Strategy
After the MLSP, the form asks for a marketing plan. Include your recommended list price (which may differ from the MLSP depending on local pricing strategy) and specific actions to improve marketability.
Recommendations might include neutral interior painting, professional staging, landscaping improvements, or minor repairs identified during inspection. Pair each suggestion with a cost estimate and the expected impact on marketability or value. Add a projected marketing timeline: how long you expect the home to be on the market before going under contract, and the reasoning.
Keep this section consistent with the data you already presented. If your market conditions analysis shows five months of inventory and softening prices, don’t project a 30-day sale. Reviewers check whether the strategy lines up with everything that came before it.
Errors That Get a BMA Rejected
RMC auditors read every BMA for internal consistency before accepting it. The errors that trigger revision requests most often:
- Incomplete conditional entries. Checking a box (pet damage, for example) without providing the required follow-up description or cost estimate.
- Missing MLS numbers on comparable sales or competing listings.
- Math errors in totals. Manually entered totals that don’t match the sum of itemized line items. The absorption rate calculation is a frequent offender.
- Percentages that don’t add to 100%. The owner-to-investor ratio and the competing listings breakdown (new, resale, REO, corporate) each need to total exactly 100%.
- Contradictory selections. “Increasing” and “stable” both checked, or “currently listed — yes” and “currently listed — no” both marked.
- Vague narrative descriptions. “Typical for the area” or “good condition” with no specifics.
Most of these are avoidable with one final review pass. Read the form as if you were the auditor: do the numbers add up, do the narratives match the checkboxes, and can someone unfamiliar with the property understand its condition from your descriptions alone?6Instafill.ai. Broker’s Market Analysis
Submitting the Form
Most RMCs accept the completed BMA through a proprietary digital portal. Some still accept a PDF sent by secure email to a designated relocation counselor. Whichever route, the form becomes part of the employee’s permanent relocation file once received.
After submission, staff auditors or certified appraisers at the RMC check the form for internal consistency. They verify that the valuation adjustments correspond to the physical property description, that the market data supports the MLSP, and that the marketing strategy aligns with current conditions. If discrepancies surface, you’ll be asked for additional commentary or corrections to specific fields.
Acceptance confirmation typically arrives within 48 to 72 hours. Once accepted, the MLSP becomes the benchmark for the employee’s buyout offer and any future price negotiations during the listing period.
How the BMA Differs From an Appraisal
A BMA is not an appraisal, and it’s worth keeping the distinction clear when a client or employee asks. An appraisal is performed by a state-licensed or state-certified appraiser and must comply with the Uniform Standards of Professional Appraisal Practice (USPAP), which imposes strict independence and objectivity requirements.7The Appraisal Foundation. Understanding Valuation Products – A Quick Guide for Borrowers A BMA is prepared by a real estate broker and does not comply with USPAP; brokers completing one are not subject to appraiser independence requirements.
In practice, an appraisal involves a more exhaustive interior inspection, a wider range of valuation methods, and a longer turnaround. The BMA trades depth for speed because corporate relocations run on tight timelines. Many programs require both a BMA and an independent appraisal and use the two as cross-checks; when the figures diverge significantly, the RMC will often order a third opinion to reconcile them.