Omaha daily bee., 1902-09-05
REALTY MEN MEET IN OMAHA
Nebraska Real Estate Dealen' Association
to Hold Convention Here.
LOCAL MEMBERS HAVE MUCH TO SHOW
They Hope 90 Convince Land Dealers
from other Points that Omaha
City Property OHers Superior
Investment Opportunities.

While the Omaha Real Estate exchange
was appointing a committee Wednesday to
consider the matter Of inviting the Ne
braska Real Estate Dealers association to
meet in this city, the board Of directors OF
that society at LINCOLN settled the question
by unanimously selecting Omaha as the
place for holding the second annual conven-
tion and fixed December II as the date.
The committee appointed at the exchange
Wednesday will therefore have nothing to
do but to make arrangements for the enter
tainment OF the Members Of the state. or
ganization. Of which It is expected that at
least 900 will be present for the two days
which the convention is to be in session.
The members Of the exchange, In their
talk Wednesday. indicated that the sessions
would not be given over entirely to busi-
ness, but that a banquet and several trolley
parties probably would be provided for the
visiting land dealers.
Among a majority Of the local real estate
men the visit Of the dealers who will at
tend the convention is looked upon as par
ticularly fortunate at this time, as Omaha
has much to show them in the way of busl-
ness. At the present time the price Of farm
land Is higher in proportion to the rate Of
interest to be earned upon the money in
vested than the price of Omaha city prop
erty. Many of the farmers are selling their
land at good prices and have no decided
plan for the investment Of the proceeds.
Change I'm Conditions.
Since 1900 there has been a marked
change in the condition of the Nebraska
real estate market. The bountiful crops
and high prices for farm produce have at
tracted the attention Of all farmers to the
atata and tha pnovauanf nf farm land has
boon phenomenal, in some counties
amounting to almost a "boom," and the
price at which farms have sold has been
such as to leave but a comparatively
small net profit after expenses and inter-
est on the money Invested had been con-
sidered. On the other hand the price OF
Omaha real estate has not advanced In
proportion to the rental value of improved
property. Since 1898 there has been a
gradual, but steady advance in the rents
paid, especially on the more moderate
priced property, while, because OF oppor-
tunities for industrial investment many
real estate owners are more than willing
to dispose of their holdings. AS a result
It Is nothing uncommon to see property
advertised for sale at a price which will
net 8 and 10 per cent on the investment
The Omaha dealers believe that II thit
IhCI can De impressed upon tne country
dealers many of their clients can be in.
duced TO invest in Omaha rental property
to the advantage of all concerned.
legislation to Consider.
There will be much attention paid to pro-
posed legislation by the coming convention.
The real estate men are almost a unit
against the law which provides that deal
ers' commissions for sales may not be col
lected unless there is a written contract be-
tween the agent and the owner of the prop
erty. A test case was made Of this law,
but the question Of it's constitutionality has
not been settled, and the agents hope to
have 1t repealed at the coming session OF
the legislature. They also desire a Law
which will do away with waste bonds" In
the case Of an appeal in proceedings Ia
fpreclose a mortgage, making II necessary
for mortgages to give bond for rents and
profits during the pendancy OF the appeal
Uniformity In taxation is also interesting
many Of the dealers, and it is expected that
there will be more or less friction In the
convention over this subject, as many Of
the members are believed to be opposed e
any change in the revenue avs Of the
state. and 1t is expected that they will Cd.
pose any effort to lead the state association
into this fight.