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Realtors can let more flags fly

June 17, 2009|By Christopher Cadelago

CITY HALL — Burbank Realtors, devastated by a waning supply of residential properties on the market, will get some help under an ordinance unanimously approved by the City Council last week and ratified Tuesday.

With an eye toward the tumbling economy, city officials agreed to allow Realtors to place temporary open-house pennants on for-sale homes while conducting sales events along with an additional “for sale” sign from 8 a.m. to 2 p.m. Thursdays, and from noon to dusk weekends and holidays.

“It seems strange, but it’s huge in today’s market,” said Darin Chase, a member of the Burbank Assn. of Realtors Board of Directors. “Right now, property owners need all of the help and support they can get.”

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“More than likely you’ve seen these types of pennants posted in other communities, and like many others, already consider them an acceptable and traditional form of real estate marketing and part of the real estate landscape,” said Terre Hirsch, assistant community development director and administrator of license and code services.

The pennants may be no taller than seven feet and must be placed at least 10 feet from the property line. Realtors are allowed to post four pennants per lot on each residential property for sale, lease or rent, he said.

The average supply of single-family residences in Burbank has fallen by 50%, according to the latest statistics based on closed Multiple Listing Service transactions.

“Real estate, as you are cognizant of, has been a very, very difficult area,” said Larry Auzene, a member of the association’s board of directors who led the effort to get the signs approved. “What we are asking is that every legitimate tool that we can utilize to help out sellers and being able to legitimately sell their property, and every legitimate tool that helps the passers going by that might be interested in this property, can be utilized.”

The approved ordinance reverses an earlier ban on temporary real estate open house flags. The term “open house” applies to regular periods when owners, real estate agents, brokers or property managers invite the public in for the purpose of viewing a property for sale, lease or rent.

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