What is PS in real estate?
PS(Pending Continue to Show).
Contingent Pending Sale. It means there is a contingency that needs fulfilled and the house will be sold. Normal contingencies are: inspections, financing, attorney approval, and sale of home the buyer owns.
Key Takeaways. The four Ps are the four essential factors involved in marketing a product or service to the public. The four Ps are product, price, place, and promotion. The concept of the four Ps has been around since the 1950s.
The seven p's of real estate marketing are product, price, place, promotion, people, physical evidence, and process. When used properly, all seven of these tools can help you sell homes faster and for more money.
A Perimeter Security System (PSS) is a comprehensive set of measures and technologies designed to protect the outer boundaries or perimeters of a property, facility, or area from unauthorized access, intrusion, or threats.
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.
Contingencies provide awareness that a deal can fall through, which is beneficial to sellers because it allows them to prepare. The ability to write a kick-out clause into the contract means that sellers can continue showing their home and accepting backup offers as they wait to see if their initial deal closes.
The four Ps of marketing is a marketing concept that summarizes the four key factors of any marketing strategy. The four Ps are: product, price, place, and promotion.
The marketing mix consists of four Ps (price, product, place, and promotion), four Cs (customer needs and wants, cost, convenience, and communication), and more. To get a better understanding of the marketing mix, we'll take a deeper dive into each of these areas to help you unlock the power behind it.
Price. Price refers to the pricing strategy for products and services and how it will affect customers. Pricing decisions do not include just the selling price, but also discounts, payment arrangements, credit terms, and any price-matching services offered.
What do the 7 P's stand for?
As you can see, the 7 Ps (product, price, promotion, place, people, physical evidence, and processes) create a guide to marketing that allows you to better reach your customers and make sales.
The product in the real estate industry refers to the property or service being offered. This could include residential or commercial properties, rental properties, or real estate services such as property management or brokerage.
Product is the most important variable among 7 Ps. If product will be not there, what you will market? Product is something which satisfies customer needs. If there is something tangible to be offered to customers, then it in goods and if it non-tangible, then we call it service.
Question: What does LP and SP mean in real estate? Answer: LP stands for “Listing Price,” the initial asking price set by a seller. SP stands for “Selling Price,” the final price at which a property is sold.
The elements of the value of real estate are generally known as the acronym "DUST". The acronym means demand, utility, scarcity and transferability.
TL;DR: The difference between Joint Tenancy and Tenancy in Common can be explained with the acronym PITT. That stands are possession, interest, time, and title. To be considered a joint tenant contract, the contract must contain the same party possession (house), interest (amount owned), time of buy-in, and same title.
Why Do Sellers Not Like Contingency Offers? Oftentimes, sellers prefer not to accept contingency offers due to uncertainties in the sale process. Since contingency offers are conditional upon several factors, such as financing and inspections, they can delay or jeopardize the home's sale.
While laws vary by state, in general, up until that contract is signed by both parties—even after counteroffers have been sent out—all new offers can be considered and accepted. Once both parties have signed it, however, the seller is pretty much locked into the deal.
Once your offer is accepted and the purchase contract is signed, you are bound to the terms of the agreement. However, you can still back out without penalty if you paid for an option period or have either an inspection or appraisal contingency. Just be sure to back out before the contingency expires.
Among contingent offers, less than five percent fall through, according to multiple sources. Broken offers may arise because the buyer isn't able to secure financing or because the seller isn't willing to lower their listing price after a low appraisal.
Can a buyer back out of a contingent offer?
For example, it's perfectly legal for a buyer to back out of a real estate agreement if the contract included contingencies that were not met. Contingencies outline specific conditions that must be fulfilled in order for the deal to be closed.
If there is an offer with contingencies, the buyer and seller generally have 30-60 days to ensure the contingencies are met.
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.
These are Promotion, Product, Place and Price. These 4 Ps play a major role in delivering the customer needs at the right time and the right place. Philip Kotler says, The most important thing is to predict where clients are going and stop right in front of them.
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.
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