What are the 4P's of listings?

Asked by Daniel Fisher, Charlotte, NC Thu May 26, 2011

Heard in broker update class that for listings, we should be recommending the 4 P's to Sellers:

pre-title (do a title search),

pre-appraise (get an opinon of value from an appraiser),

pre-inspect (make deferred maintenance items a non-issue),

But I cannot recall the 4th one...

What would YOU say it is? Pre-move (get their stuff into storage ready to move to the new place)? pre-stage (make it show ready)? Pre-finance (offer special loan terms)? Pre-...

Would your sellers follow these recommendations?

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Kelley Irela…, Agent, Mooresville, NC
Thu May 26, 2011
Not bad suggestions, but I would have a tough time selling them to my clients as I don't really believe it's all necessary in most cases. I have never had a title issue except on one that we knew there would be as it had been in an undistributed estate for 20 years and there were about 35 heirs. If there is an estate involved, an unfinished home or other circumstances, this would be a good idea....but for the typical seller, I don't think they need to pay the attorney to do that up front. I only recommend an appraisal to my seller in cases where their opinion of value is unrealistic or if it is just so unique that I dont feel I could properly give opinion of value. Pre- inspection should be the normal way of doing things....although it is difficult to convince a lot of sellers to do this as it is the 'normal' way they have done things. This will actually benefit the seller more than the buyer as typically, we negotiate price and then the buyer hoes back and hits the seller up for repairs. Fourth P I can't guess.
2 votes
Jenet Levy, Agent, New York, NY
Thu May 26, 2011
I don't think you need an appraiser. It's not that hard to price properly with good comps. I've seen many bad appraisals. At least here in NYC, the banks are being forced to use the lowest bidder on appraisals, and appraisers from the suburbs without a clue come and do a terrible job.
2 votes
Rich Sossa, , 28078
Fri May 27, 2011
I wouldn't worry too much about a pre-title search or a pre-appraisal. Only in unique circumstances would I suggest to have these done.
However, I do strongly recommend having a pre-inspection done & in some cases I will not take the listing unless the seller agrees to have one done.
As far as the 4th P........PRAY!
1 vote
Ruth and Per…, Agent, Los Gatos, CA
Thu May 26, 2011
Good points, Daniel.

0 votes
Allan Erps, Agent, Pearl River, NY
Thu May 26, 2011
Pre-sign the Listing papers with me!
0 votes
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