New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-06
VEST SIDE LOTS LOOKING up.
BUILDERS WORKING IN THAT DIRECTION.
MORE DISCUSSION OF REAL ESTATE REFORM
VIEWS OF DEALERS.

MORE DISCUSSION OF REAL ESTATE REfoh"-
VIEWS OF DEALERS.
The demand for vacant lots on the West SIDE
"a Increasing and this feature may be said to De us
tpcyc one in the present real estate market buuers
are turning their attention TO that part OF Tue ci5 ~
not few small houses being erected his 10 'o
CRYING need of New.York CITY, and those who cater toll
arc bound TO DO rewarded Land is too valuable on o
East Side to permit the building Of low-prlced dwellings,
mt there ia enough unmproved real estate west Oh
Tenthaye TO allow many modest houses to DC put up
which will be eagerly sought by persons urea Oh 'hs
IN flats whose income will not cover the cost Oh prV'o
dwellings in the settled parts Of Manhattan isanh lho
typographical features of tho west side ha'o """9
been attractive to builders and dwelers and now each
wear is Increasing the means OF communication between
that portion OF the city and the downtown business
centre Dealers predict steady ana healthiul CROWN
OF the West Side all tho way up TO the Harlem proVueu
no unreasonable speculation should set IN 10 "orA "a
travagant prices
Much of tho talk still heard in real estate offices runs
the proeressye measures being advocated under
the auspices of the Real Exchange Many brokers
seem to that the lack Of cooperation OF properly
owners will bar the road to success or course that ~
point that only be determined by experience lho
workers I'm the reform confident that they can Hho"
the advantage of general adoption Of the principle OF
" slnre representation tho owner and seller OF
realty George H. Scott OF scott Myers, said yester
day: 80 The pan Is governmental and it remains TO DO
seen whether will consent to accept IT, III so
eral business men considered their word as good as
their bond and I'm law man be held to his word but
In real estate transactions nothing is settled I'LL the con-
tract closed money passes On this account some
owners arc tempted abandon transaction before IL
IL entirely completed II they get better offer mean.
time. Tho beauty or che system or rcgsiThIIou VI
property for sale the Exchange that ensts every
broker in the work disposiGg OF the property whle
the time the broker who has the parcel Tor SAFE
Another croker in broadway said: 1t will be DIM
cult TO bring all prOpcrty-owners into Inc. ana
many Of the brokers will not consent 70
The certrng of the at the Exchange Yet the
effect OF the adoption OF the methods would DC sal
utary and would tend to elevate echaracer anu stahu
ing OF the profession. Tho reform Is an experiment put
it is worth trying 10 Is urged as an objection that Win
tho registering of property at the EXCHANGE lno,G is
nothing to prevent me for instance, securing exclusive
control of 81 600 900 worth OF property II can DO So
buetinnG II at the Exchange aud letting other brokers
do all the hard work of selling 1t for half OF my commits
sion On the other hand. Ii would be Amos! lmpossoIo
for 10 secure monopoly OF the cOhtrol OF PROV
readily be fixed between owner and broker
at reasonable time-a month"; thlce
months or whatever period experience would teach was
equitable both interests The registration OF property
also gives the single representative the assistance OF an
losing commissions by undcrhand work WINE IL secures
the advantage OF dealing Win oheresponspo
the owner I. confronted with numerous possible conpH
cations law suits etc, growing out OF disputed commits
SONS or mi'rePro,entation' by So'ne ocnrp in
his control OF parcel, tho properH-OWh ~
benefited by the broker being Interested IN ehancihg
It's value knowing there Is no danger that he VIII Dc
undcrcut by rival or even lose his commission luty
the will work the harder to effect tho sale at the
best possible figure iio Will always give tn' ont cSo
and attention TO tho house or lot lie controls letting the
property control he Is sharing with several com
petors till he has leisure or take the chance OF an
accidental securing OF buyer"
The offerings at the daily Exchange meeting arc con
fined for tho present to stores aud houses Ony as INC
practicaby OF the reform system IL demonsraeG ~ IL
Intended 10 push It's extension to unmproyod lands
slow but sure Is tho motto pracucaIIy auoP'eu W
the advocates OF the new movement.