What does PS mean in real estate terms?
PS(Pending Continue to Show).
PS - there is a pending offer on a property, but the realtor is not overly confident that it will close so they are continuing to show the property to have backup offers if the pending offer doesn't move forward. Usually means pending sale or pending/ (still) showing.
Option Pending is in place during the Option Period. The option period is the time where the buyer has the option of canceling the contract for any reason. Pending is after the option period and the sale is in escrow.
Once the purchase agreement is signed, the home is officially under contract. Before you can officially move out of your old house, there are a few more steps you need to take, which include making an earnest money deposit, scheduling a home inspection, and eventually, closing on your new house.
Pending - Continue to Show
Property has an accepted offer with no kick-out but the seller and agent would like to continue to show the property. The status is pending, therefore, the Days on Market will no longer calculate and the property will not Expire on the listed Expiration Date.
The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies used by marketers to achieve their marketing objectives.
The 4 Ps of the “marketing mix” are Product, Promotion, Price, and Place.
A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.” If you're interested in a pending property, your agent should consult with the seller's agent to learn more about the status.
Homes are listed as pending because even though they are under contract, they haven't sold yet.
A house that's listed as pending is in the final steps of the home sale process. Homes are usually in the pending stage for one to two months before the sale is final. A real estate sale that's pending can still fall through, but it may not make sense to submit offers on pending property listings.
Can a seller back out of a signed purchase agreement?
The seller can back out for reasons written into the contract, including (but not limited to) contingencies. The buyer is in breach of the contract. If the buyer is “failing to perform” — a legal term meaning that they're not holding up their side of the contract — the seller can likely get out of the contract.
If a seller decides to go with a higher offer, she must communicate that to the original buyer immediately—and return any deposit presented with the initial offer. But here's another option: A seller could allow the original buyer to present a counteroffer. Granted, the buyer may not want to.
No. If the seller signs a contract to sell a given property at a contractually-agreed price then they suddenly increase the price, the contract is void. At that point, you turn around and sue the seller for violation of contract.
Even after you've agreed to a price and signed a contract, it's possible for a home sale to fall apart. Data from the National Association of Realtors shows that 5 percent of contracts were terminated in the final quarter of 2022, and 15 percent were delayed.
A financing contingency may not be the only reason a home sale is in pending status. There could also be an inspection or appraisal contingency, or there could be zoning and title issues with the property. “Sales can also fall through when a buyer changes their mind and backs out,” says Supplee.
If a home is listed as pending, all contingencies have been met and the sale is further down the closing path, with most of the paperwork in place — but the transaction has not yet been completed. You are more likely to be successful making an offer on a contingent home than a pending one.
The product is the most significant pillar in the marketing strategy. You deliver a particular product to the particular audience at a particular location so that it satisfies their needs and demands.
Price is the cost of the product that the consumer pays. During product marketing, it is important to set a price that reflects the current market trends and is affordable for consumers, yet at the same time is profitable for the business.
The 4Ps of marketing is a model for enhancing the components of your "marketing mix" – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.
Real estate is a tangible asset not a service. A product is usually an asset that is sold. It is something that is considered a noun, a person, place or thing. So with that definition, a house is a thing which would make it an product.
What are the two elements of marketing real estate listings?
Product and place are two important Ps in real estate marketing.
- Identify A Target Audience.
- Clarify Your Message & Goals.
- Review Your Competition.
- Define What Sets You Apart.
- Organize Your Budget.
- Determine Your Media & Distribution.
- Set Milestones.
- Create A Timeline.
While “under contract” typically means there are still contingencies left to clear, pending status usually means all contingencies have been met and the deal is on its way to closing.
How long do pending transactions typically last? The duration varies. It can range from a few hours to several days or more, depending on factors such as the merchant's processing time, weekends, holidays, and the policies of your bank or credit card issuer.
This authorised amount is held and appears as a “pending” transaction for up to 5 days. During this time, the merchant finalises the payment, and the transaction will be fully processed (settled), with the funds being sent to the merchant.
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