The Brokers’ Open House: Step One of Marketing Your Home
By: Tara Mastroeni
If you’re trying to sell your home, it’s likely your real estate agent has suggested hosting a brokers’ open house. But, what is that, exactly? Long story short, it’s an open house not for home buyers, but for their agents so they can determine whether your home is right for any of their clients.
A brokers’ open house is different
The biggest difference between a brokers’ open house and a standard open house is who ends up on the invite list. While standard open houses are quite flexible about who can stop by—and might include anyone from potential buyers to curious neighbors—the guest list for a brokers’ open house is strictly limited to other real estate agents and industry professionals.
Time is another differing factor. Usually, standard open houses are hosted on Sunday afternoons, because the vast majority of potential buyers have weekends free for house hunting. On the other hand, because a brokers’ open house caters to agents—whose weekend schedules are often packed with home showings for clients—it is often held midweek, when agents are more likely to be available.
What happens at a brokers’ open house?
At its core, this is another tool that real estate agents use to help market a home. In addition to internet marketing systems like the multiple listing service, it’s a method of debuting your listing to industry professionals in your community.
Once your agent schedules a brokers’ open, he will advertise it to his network of industry contacts. Usually a free lunch is also offered as an incentive to show up. On the day of the event, the other agents will be given a chance to tour your home, enjoy the free lunch while catching up with colleagues, and offer your agent their opinions on the property.
Typically, brokers’ open houses are held within the first few days of a home being put on the market in order to capitalize on the initial burst of interest that often accompanies new listings. But if there is ever a dramatic adjustment to how your home is being marketed—such as a significant drop in price—your agent may suggest hosting another brokers’ open house in order to spread the news.
The benefits of a brokers’ open house
If you’re the type who doesn’t relish the idea of opening your home to crowds of looky-loos who’ll tramp through your rooms and open every closet and medicine cabinet, then a professionally targeted brokers’ open may be appealing.
If all goes according to plan, the agents who tour the house will go through their mental Rolodex to see if your property would be a good fit for any of their clients. If so, they’ll likely bring those clients back for a private showing in the near future, especially if the brokers’ open was well-attended.
Even if an offer doesn’t result directly from the brokers’ open, it can offer a valuable critique of how your home looks in comparison with other properties currently on the market in your area. Since REALTORS® regularly have the chance to view a variety of homes, they have the ability to give your agent feedback on how your home is being perceived by others—and how to better attract buyers.
© 2017 California Association Of Realtors® All rights reserved.
Grow a beautiful South Bay garden this spring & summer!
Take advantage of the spring sweet spot! Edible flowers add beauty and liven up the palate. A number of flowers are edible (though not all!) and perfect for adding a visual and flavorful zing to any dessert or meal.
Jumpstart your collection with colorful choices like:
- Honeysuckle or mint to complement dark chocolate desserts;
- Marigold to add a bitter, tangy flavor to pastas & rice;
- Nasturtium flowers to spice up salads or sandwiches; and,
- Pansies to add sweet décor to cakes, or design fanciful watermelons.
Don’t forget fruit and vegetable staples!
This spring, plant:
- Cantaloupes, celery, chayote, cucumbers, eggplant, peppers, sweet potatoes, squash, tomatoes & watermelons in April;
- Artichoke, lima beans and pumpkins in May;
- Broccoli & brussels sprouts in June.
Build your garden to thrive in the summer heat! Successful summer gardens require careful plant selection as well as proper design to keep vegetables moist and healthy.
Potted fruits and vegetables do best in deep pots and planters. Deeper pots allow for more soil, which means greater retention of moisture and less frequent watering, saving money and time.
Drip irrigation systems are increasingly popular. The system drips water consistently throughout the day to keep roots moist, but not saturated. It also uses less water than traditional methods as the water is targeted and less wasteful.
This summer, plant:
Cauliflower and rutabaga in July;
Lettuce, cabbage, chinese cabbage, kale, kohlrabi, mustard, peas & turnips in August;
Spinach, peppers, green onions, beans & radishes in September.
Is Your Retirement Income Inflation Proof?
If you’re thinking about buying another home, you already know there’s a lot to think about. By the time you call a Realtor® you’ve already worked through the personal reasons … “We need a bigger house,” or “We want to be closer to the grandchildren.”
Another decision to be made is, “Should we sell our old home, or keep it and rent it out?”
It’s certainly a worthy goal. A rental property can provide an inflation-proof retirement income! Arriving at an answer requires working through some of the financial implications. How much cash do you need for a down payment? How much for reserves in case of a vacancy? Will the rent cover all the costs?
Residential income property is in high demand right now, with lots of qualified tenants looking for a place to live in or near the Beach Cities. We can run an income analysis on your current home and show you how much you can expect to earn, and how it fits into your purchase plans.
If you bought your home during the Great Recession, you could be well positioned to make that leap to being a landlord. Likewise, if you’ve owned your home for many years, the numbers should work for you.
An equally important question is: Do you want to be a landlord? Are you ready for late night maintenance calls, collecting rent from tardy tenants, and dealing with the various governmental taxes and regulations? While managing income property sounds imposing, there’s an easy solution that many people use.
For about 5%-7% of the income, professional property managers will locate & screen tenants, handle maintenance, collect rents, pay bills, give you regularly scheduled reports and send you a check every month!
Five Improvements You Can Make This Spring
Don’t let your tax refund go to waste: invest it back into your home! Here are five ways to put your tax refund to good use:
- Energy-efficient improvements. Invest for long-term savings by installing Energy Star appliances, ensuring your home has the proper insulation it needs, or simply swapping out old bulbs for energy-efficient lighting. Some energy improvements will even earn you a tax credit for next year.
- A fresh coat of paint. This is one of the easiest improvements you can make. Give your front door and porch a face-lift for the biggest impact. Inside, create a more spacious feeling by making the walls a lighter shade than the flooring, and the ceiling lighter still.
- Enhance curb appeal even more. Now that the door is freshly painted, consider a new look for your front yard. It can be as simple as buying some new plants or as complex as hiring a landscaper to design and install a xeriscape to conserve water and make your home stand out from the rest. A fun alternative is paying a professional to do the design, and making the job a weekend project for the family.
- Upgrade your garage. Donate the old furniture stored there, finish the walls & ceiling with sheetrock, paint the floor, install cabinets, and create a work area for the projects you never seem to start.
- Meld your indoor and outdoor living space. Arrange indoor furniture to allow easy access to the patio, deck or balcony during the warm spring & summer months. Lay down pavers to define relaxation areas, set up a grill to get out of the kitchen, create a play area for children and adults. Redondo Beach is a easy place to take advantage of the great SoCal climate.
- 1 bunch thin asparagus (about 1 pound), trimmed
- 3 tablespoons olive oil, divided
- 3/4 teaspoon kosher salt, divided
- 1/2 teaspoon freshly ground black pepper, divided
- 4 (6-ounce) skin-on salmon fillets
- 8 teaspoons country-style or whole-grain Dijon mustard
- 3 tablespoons panko (Japanese breadcrumbs)
- 1/4 teaspoon smoked paprika
- 2 tablespoons chopped fresh tarragon
Preheat oven to 275°F. Line a rimmed baking sheet with parchment paper. Toss asparagus with 2 Tbsp. oil, 1/2 tsp. salt, and 1/4 tsp. pepper, then arrange in a single layer on one half of baking sheet. Bake asparagus 5 minutes.
Meanwhile, spread each salmon fillet with 2 tsp. mustard. Sprinkle fillets with 1/4 tsp. salt and 1/4 tsp. pepper total. Toss panko with remaining 1 Tbsp. oil in a small bowl. Sprinkle panko mixture evenly on salmon fillets, then dust with smoked paprika.
Bake asparagus for 5 minutes, then remove baking sheet from oven. Place prepared salmon fillets skin side down on empty half of baking sheet. Return to oven and bake until salmon is firm and asparagus is tender, approximately 14–16 minutes more for medium rare salmon.
Redondo Beach SFR Sales
Sales from 1/1/17 to 3/31/17
south of 190th / Herondo
Address Bed Bath Sq Ft Lot Size Sold $$
418 S Guadalupe Ave 2 1 981 2,752 $680,000
326 N Prospect Ave 4 2 1,563 5,550 $810,000
703 N Paulina Ave 5 4 3,423 6,250 $1,200,000
318 S Lucia Ave 4 3 2,225 3,965 $1,225,000
827 Avenue C 3 3 1,944 6,081 $1,515,000
730 N Paulina Ave 4 3 2,770 7,231 $1,650,000
410 S Juanita Ave 5 4 3,155 6,003 $1,688,000
724 Esplanade 3 2 2,000 3,997 $1,929,000
409 S Irena Ave 6 5 4,523 7,594 $2,150,000
419 S Lucia Ave 5 6 4,350 7,000 $2,620,000