Los Angeles herald., 1905-01-15
NEW DEPARTURE
BY REALTY BOARD
TALKS ON BUSINESS TOPICS
WILL BE HEARD e-e
Innovation Opened With Declara-
ton Upon the Duties Existing
Between the Real Estate o
Dealer and Client i

Twenty minute talks" will be fea-
ture of alternate meetings of the Los
Angeles Realty board in the future,
and the first of this series of discus
sions, on matters of particular inter-
est to the real estate man, was given
Thursday by Clarence A. Miller, when
the Realty board held it's regular meet
ing and luncheon.
Mr.. Miller, who is almost special
ist in law as it relates to real estate
and property interests, spoke on 1.-The
Law and the Real Estate Man, Win
an emphasis that denoted conviction.
he complimented the Realty board
upon it's work and development, which
ne declared to be remarkable for so
young an organization. It's members
and those of similar organizations else
where, are, he said, elevating their
business from a trade to profession
by the gradual elimination of the
"curbstone" dealer and the requirement
of absolute integrity in real estate
transactions. He alluded to the meas
ures Of civic and public Improvement
undertaken by the board, as affordlng
demonstrable proof of the breadth ana
public spirit of the men who are fore
most in promoting anything that TENDS
toward the betterment of this city and
section of the state and the consequent
Improvement of property values.
Relations Fully Explained ..s.. :,
Mr.. Miller then dealt with the rela-
tions between agent and client, ana
pointed out that when an agent Is re-
tained by a prospective investor or
property owner, the law assumes that
relation OF trust and confidence IS
created. Consequently, he said, the
owner is a trusting and confiding lamb,
in theory, and anything done by the
agent, although quite innocently by
which he obtains advantage over the
owner, is fraud. Proceeding to illuIni-
nate the difference between the theory
of the law and facts in real estate
DEAL the speaker said, that in the pro-
fession Of the law, or of medicine, the
client is at once conscious of the con-
fidence which he necessarily places in
the lawyer or doctor, but that the av-
erage owner or investor in real estate
trusts no one. He goes to one agent
to find purchaser. and, if'he chooses,
he then goes to another, placing blu.
little trust, and perhaps no confidence,
i'm the first one, but hoping that one Of
them may find a purchaser for his
property. When first approached, the
real estate, man acts at arms length
with the client and tries to get tho
agency for the property at the lowest
possible price, that he may more easily
find a purchaser. Each is acting for
his own interest. But the moment the
contract between them is concluded, the
law steps IN and presumes confidence
and trust on the part of the latter.
The point of the foregoing Is that the
agent should be careful to keep in mind
this presumption on the part Of the
law, despite the fact that he may sus-
pect the owner Of Withholding that en-
tire confidence and trust which is pre-
sumed. For instance, he must acquire
no interest, actual or contingent, with
the purchaser OF property from his
client, II he would avoid being held
guilty in law Of wrong to the latter.
Proof May Be Needed
"Of course" added Mr.. Miller you
can prove, II you are able to prove,