The Washington times., 1901-12-08
Much Discussion OF Its
Probable Benefits.
some OF THE OBJECTIONS OFFERED.
Organizations That Have Been
Successful in Other Cities I'M
prcvements in the Sou heast
Section-In Brightwood Park.

exchange has been widely cauvassed jur-
ing the past week, and it is evident that
sentiment is overwhelmingly in favor Of
such an organization. This, it may be as
stunned. will make the establishment OF
the exchange a certainty in the near fu-
iure.
Briefly stated, the following are the
arguments advanced in favor of the or
ganization:
A list of undesirable tenants would be
kept, and it would be possible to collect
rents and enforce contracts in many
cases with the information OF such list,
where otherwise, as heretofore, tenants
could evade payments and break con-
tracts with little trouble or risk. Brokers
could refuse to rent house to an appli-
cant until he had paid rent due on a
house previously occupied by him.
Pay Neither License Nor Oficc Rent.
curbstone brokers that do business
without n license and without the eX
pense of Office rent, and that frequently
take unfair advantage of legitimate brok-
ers in other ways, could be suppressed
largely, If not wholly.
With combined action it might be DOS
sible to secure the passage of a law such
as that now in force in New York. which
requires that any agent. or alleged gent.
offering property for sale he compelled 10
show a written power Of attorney from
the owner This Law is enforced in New
York, and a penalty is attached to viola
tion OF ii.
real estate auction sales room could
be made a feature Of the exchange, and
all auction sales could be held there in
stead of on the streets in front Of proper
ties offered. Rainy-day postp0nements
could be avoided in this way, and, in ad
dition, ii would usually be the case that
there would be more bidders for prop
erty and a better chance OF making sales
a satisfactory prices.
This plan. furthermore. would be fairer
TO the tenants of property. who frequent
Is have nothing to DO with the auctions.
and who ye are subjected to red flag ana
bell and other inconyeniences and annoy
ance that it is contended. serve no good
purpose.
Mouid Advertise Washington.
Acting as body. it might be possible
for the real estate men to advertise the
advantages Of Washington as a residence
city much more effectively than in any
Other wav.
At the meetings OF the organizat ion
many new ideas Of promotion AID adver-
Using would be developed, and mn1y
plans for the development OF the city IN
the most economical and effective manner.
Objections That Are Made.
While brokers generally commend the
plan IN all particulars, it is true that
number OF prominent real estate men are
to criticise II foI various rca-
sons. One suggestion made Is that ile
exchange would not prove effective in
destroying the abuses in the buzi-ess. II
IS said that such an organization. like
the old Board OF Insurance UnderwTi'~,
VI ould find itself unable to control all OF
i,s members. however strict the majority
might be In living up to its rules. Black
list applicants for houses with cash to
pay In advance would be accommodated
even though they might have bad previous
records. Some members Of the exchange
also might fail to live up to
its rules regarding undertaking and TAX
ing unfair advantage OF each other. just
as licensed brokers now frequently prac-
iice shady methods that are quite as bad
as any that the curbstone people resort
TO.
There Is objection to the auction OK
'hange feature Of the plan also. Il is said
that the auctioneers would be given an
advantage with no corresponding bcncat
to the brokers.
Have Proved successful EIsewherc.
Tho answer to all these objections made
by the advocates OF the exchange is that
such organizations have proved success
ful ia other cities, resulting in much
better condition of things. Undesirable
tenants and curbstone brokers have been
largely restricted in their operation The
iuetion business, too. has been reduced
10 a much more business-like basis. The
Chicago Exchange is noted as an espe-
,ialIy prosperous and helpful one
Opinions of Brokers.
Mr. .. II. Warner says: The real es-
ate men are a constant and tireless force |
n the development of the city-they are
and promoters Of enter |
1rises which add not only to the material |
wealth, but draw population to the Capt. |
al We want more actual settlers. peo-
lie who buy houses ard cast in their lot |
9Th US. Now. who works like the real /
state man TO get these people here? He 1
idrertises for them; writes to them: sees
hem; influences them A combination that |
sill get several hundred men together
Sill certainly help produce new ideas and
benefits"
The Chicngo Blacklist.
Mr. Z. c. Baumgras says: Real estate
exchanges in other cities have proved
mos; beneficial. The idea OF such an or
in Washington is TO be com
nended. In Chicago the blacklist OF un-
desirable tenants has been most eifec-
i've. The auction exchange is an espe-
tally necessary institution The present
plan OF conducting real estate auctions is 4
and worn out and has nothing
70 commend II. The only difficulty in the
way OF a real estate organization of this !
character viii be in the enforcing of its /
Jules. II the proper men are put at IT'S /
lead they will undoubtedly be SUCCESS
'ul
Mr.. Fairfax, Of Stone & Fairfax. said
regarding the many sales OF
medium sized residences that have been
made recently: These sales are the real 1
Indication Of prosperity. They show that
he people are making money as well IS
4e Thy iasses. They Indicate that
IRE 5eing bought. while large |
are frequently only the rec
rstments. II is very gratify-
H big transfers of real estate
ilt . "a reality not the most inn
Developments In BrooLland,
Mr.. Redford W. Walker said with re-
sard to the recent rapid developments in
building operations in Brookland and the
'ther suburbs In that section: THE build
ng OF homes has gone on all the time.