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CicLAvia 2023: An Open Street Bicycle Fiesta in the Heart of Los Angeles | Solar Eclipse

REAL ESTATE NEWS — If you live in Downtown Los Angeles or are planning to spend your weekend in the city, you’ve likely seen or heard the alert from the Downtown Center Business Improvement District (DCBID) about the upcoming CicLAvia event. But what exactly is CicLAvia, and why should it matter to you, whether you’re a resident, investor, home buyer, or even a tourist? Let’s delve into the nuances of this iconic Sunday Los Angeles event and understand its broader implications for the city and its real estate.

The day before, a partial solar eclipse will cool down your warm-up: October 14, 2023 — Maximum eclipse: 9:24 a.m., PDT (Moon covers 78% of sun’s diameter, 71% of sun’s area).

What is CicLAvia?
CicLAvia is a non-profit organization in Los Angeles, California, that works with the city to close streets to car traffic, thereby allowing people to traverse the streets freely on foot, bicycles, skateboards, or other non-motorized means. The idea is to reclaim the streets, if only for a few hours, and turn them into a safe and fun environment for everyone. People can walk, run, cycle, skate, and experience the city like never before.

When and Where is CicLAvia 2023?
Date: Sunday, October 15, 2023
Time: 9 am – 4 pm
Locations: Multiple streets in Downtown LA, including:

Broadway between Bernard St and 7th St
Figueroa St from Venice to 7th St
7th St from Broadway to Figueroa
1st St from Broadway to Central
Central From 1st to 6th
6th St/Whittier from Central to St Louis
St Louis from Whittier to 1st St
1st St from Boyle to Evergreen

How Does This Impact Downtown LA Residents and the Real Estate Market?
Increased Foot Traffic: This is a fantastic opportunity for local businesses to attract customers. If you’re a landlord with commercial properties, this is the day to encourage your tenants to have promotions and events.
Community Engagement: CicLAvia fosters a sense of community that is often missing in big cities. Neighborhoods feel more like neighborhoods when people are out and about, mingling and engaging with their surroundings. This makes the area more appealing to prospective buyers and renters.
Quality of Life: Events like these can significantly elevate the perceived quality of life in an area. They also make for excellent selling points when you’re looking to attract homebuyers or renters who prioritize community events and outdoor activities.
Property Values: In the long term, areas that regularly host community events like CicLAvia may see a positive impact on property values. As a broker or investor, these are critical trends to monitor.
Promotional Opportunities: If you’re in real estate, use this time to host open houses or offer tours of available listings. With the increased foot traffic, you might get more walk-ins than usual.
What Do You Need to Know as a Resident or Visitor?
Street Closures: Be aware that multiple streets will be closed, affecting regular traffic flow. Plan your day accordingly if you need to drive.
Public Transport: Since there will be disruptions, using public transport could be a good idea. Metro Rail Stations along the route will be operational.
Participation: You don’t need to be a cyclist to participate. You can walk, jog, skate, or even dance your way through the streets!
Safety Measures: The DCBID’s Safe & Clean team, known as the “Purple Patrol,” will be on duty. However, participants are encouraged to follow safety protocols, including wearing helmets if cycling and maintaining social distancing as much as possible.
Tips for Landlords and Investors
Marketing: Use this event to market your properties. Capture the vibrant community atmosphere with photos and videos to use in your listings.
Open Houses: This is a golden opportunity to hold open houses and offer special incentives for attendees.
Networking: As many locals and visitors will be out and about, use the opportunity to network and spread the word about your services.
Final Thoughts
CicLAvia is more than just an event; it’s a phenomenon that embodies the spirit of community and freedom. It’s a unique selling point for a city that’s not just about Hollywood and beaches but is also deeply committed to community wellness and sustainable living. As a stakeholder in LA’s real estate landscape, understanding and leveraging such events can offer you a unique edge in an increasingly competitive market.

So whether you’re a resident, a visitor, a landlord, or a potential investor, CicLAvia is your opportunity to experience Downtown LA like never before. Don’t miss it!

For more information, you can contact the DCBID Service Center at:

640 S. Olive Street
Phone: (213) 624-2425
Email: DCBIDservices@downtownla.com
Website: www.downtownla.com
Note: This article is intended to provide value and information to home sellers, buyers, renters, landlords, and investors. For more such insights, stay tuned!

For inquiries about real estate investment opportunities in Downtown LA, feel free to contact us.

That wraps up our deep dive into CicLAvia 2023. If you found this post valuable and informative, consider sharing it with your network. This is more than just an event; it’s a testament to the evolving character and appeal of Downtown LA. Don’t miss the chance to be a part of it!

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The Changing Landscape of Real Estate Commissions: Is a Buyer’s Agent Necessary? Who Pays?

Are Real Estate Agents Doomed?

REAL ESTATE NEWS (National, U.S.) — The real estate industry is undergoing a seismic shift, and one of the most debated topics is the role of buyer’s agents in the transaction process. With the National Association of Realtors (NAR) recently allowing listing brokers to offer 0% compensation to buyer’s agents, the question arises: Is a buyer’s agent necessary? This blog post will delve into the implications of this change and how it could reshape the industry.

The Traditional Model

Traditionally, the seller’s agent and the buyer’s agent split the commission, usually around 5-6% of the home’s sale price. This model has been in place for years, but with most buyers now finding homes through third-party websites like Zillow and Redfin, the value proposition of a buyer’s agent is being questioned.

The NAR’s Sudden Reversal

NAR’s recent announcement that listing brokers can now offer 0% compensation to buyer’s brokers is a game-changer. This move has led many to question the necessity of buyer’s agents and whether home sellers and their agents should continue to share commissions.

The Argument for Eliminating Buyer’s Agent Commission

Cost Savings for Sellers
One of the most compelling arguments for eliminating the buyer’s agent commission is the potential cost savings for sellers. If a seller can secure a listing at a 3% commission rate instead of 5-6%, they stand to save a significant amount of money.

Direct Communication
Another point in favor of this change is that it allows for more direct communication between the buyer and the seller’s agent. This could lead to more efficient transactions and a better understanding of the property by the buyer.

Lead Generation
For listing agents, this change could also mean that lead generation takes care of itself. When consumers go directly to the property, listing agents get all the leads, including those who have to sell a house to purchase a new one.

The Argument for Keeping Buyer’s Agent Commission

Buyer Advocacy
Some argue that a buyer’s agent provides a level of advocacy and expertise that is beneficial to the buyer. They help with negotiations, inspections, and other aspects of the buying process that go beyond just finding a property.

Market Exposure
In the current model, offering a buyer’s agent commission increases the property’s exposure, as it incentivizes other agents to show the property to their clients. However, this argument is losing ground as more buyers find properties themselves online.

The Future Landscape

The industry is at a crossroads. On one hand, the traditional model provides certain benefits that are hard to ignore. On the other hand, the changing landscape, driven by technology and consumer behavior, is challenging the status quo.

Death of the Buyer’s Agent? No more NAR?

The debate over the necessity of buyer’s agents and shared commissions is far from over. However, one thing is clear: the industry is changing, and both agents and consumers need to adapt. Whether this will lead to better outcomes for buyers and sellers is yet to be seen, but it’s an issue that can’t be ignored.

The Likely Outcome

The Death of the Traditional Agent?
While it’s unlikely that real estate agents will become entirely obsolete, there’s a strong case to be made that their roles will evolve. Agents who fail to adapt, who don’t offer clear value beyond what digital platforms provide, may find themselves out of business.

Is NAR a Dead Duck?
NAR’s decision may be a sign of adaptability rather than a death knell. By changing their stance, they’re acknowledging the new landscape, even if it’s forced upon them by litigation risks. However, NAR will need to do more to stay relevant, including offering training and resources for agents to adapt to the new landscape.

Are Buyer’s Agents Doomed?
Not necessarily, but they are at a crossroads. Those who can adapt by offering services that genuinely add value to the transaction will survive and even thrive. Those who can’t will likely be phased out.

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SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.