The Washington herald., 1907-05-19

which discounted all the brokers. and
this attorney did place an option on the
property for sixty days at a figure which
shut out the four brokers who had the
property listed for sale.
II turned out that one of the brokers
had real control of small holding on
one side OF the lot. which was not and
could not be covered by the option, and
at last accounts the taker of the option
could not obtain the dimensions Of ground
he wanted on which TO build, and II was
thought the deal would fail.
Mr. Daniel Thinks Ii Good.
Ernest A. Daniel. Of Willige, Gibbs &
Daniel said he was much in favor Of
some Sort at organization among real
estate men which would promise better
protection in the listing of property, and
give the broker for set period exclusive
control OF the sale, in place Of giving 1t
out to several firms and setting them
into more or less of a conflict over prices
and conditions Of sale
Reginald Beall. of Moore & Hill. talked
at length of the advantages Of some or
ganiZati0n Of real estate men which
should clear up the abuses which had
crept into the business in recent years.
Mr. BeaIl was not just clear in his mind
what the organization should be. or what
rules It should adopt That he thought
could be determined as soor as the craft
really assembled and began to talk things
over in earnest
How IL Is Done i'm New Orleans.
Mr.. BeaH offered a suggestion based
upon the workings Of the real estate eX-
change IN New Orleans, which II said
had always appealed 10 him as one Of
the best ways to handle real estate. Mr..
BeaH described the workings OF the busi-
ness in New Orleans as follows:
In that city they have what they
call a real estate exchange. The, brokers
list there all the property they have for
sale or rent, with adequate description
of each piece. Every Wednesday and Sat
urday IS a sale day. The brokers, buy
ers, sellers and all persons interested
gather at the specified hour and during
the meeting of the exchange there Is
the liveliest kind Of a time The property
is called off much as IS done on a stock
exchange. brokers representing clients are
permitted 10 make ,fers, and even 10
bid against one another. The property
can be sold or withdrawn at the option Of
the owner or the broker offering IL, II
the Offering is considered too low, apd
it may be offered again on the next or
a succeeding sales day.
THE net result" said Mr.. Beall is
that more property is sold there on the
exchange in two hours time. with less
effort and expense. than could be sold
in Washington in two months, at great
expense Of time and money on the part
Of the brokers.
i do not know" said Mr.. Beall.
whether we could adopt such method
in Washington. I only describe it as one
of the methods Of selling which works
well there. ] do believe we might i'm
prove upon our present methods here, in
some way which would be advantageous
TO the broker as we'll as the owner and
the buyer
Mr.. BTninerd Approves Plan.
Z. c. Brainerd expressed considerable
confidence in the proposition that an as
sociatlon Of real estate men, which should
adopt rules for the listing Of property,
for the stability Of commissions, and for
the protection Of the broker while a deal
was being consummated, would benefit
the business. Mr.. Brainerd suggested
that such an association ought 10 be un-
dertaken al once. and he expressed a will
lingness 10 identify himself with any
movement looking 20 that end. He said
it was sometimes almost impossible to ef-
feet a deal. and he expressed the opinion
that much Of the duliness of the market
I'm recent months was due 10 the unfor-
tunatc conditions prevailing relative to
the rights Of the broker with whom prop
ertv was placed for sale.
Mr Brunerd referred 10 one OF two
Iitigatlons which had grown out OF "A mis-
understanding relative 10 commissions to
be paid for making sales, or the division
Of the same among two or more brokers.
He said il was sometimes as difficult %
settle up with the brokers after a sale
had been consummated as il was 90 make
the deal I'm the first place. Mr.. Brainerd
felt that there was too much effort
wasted. as we'll as time and money, I'm
making sales under present conditions. He
would welcome "a movement that prom
sed relief
Other brokers were interviewed vino
expressed similar opinions As "a whole
it was not very clear what could De done
to clear up the situation, but the impress
sion is widespread among real G-t3te men
that they must soon come together on
common ground for general protection of
their interests. The opinion most general
was that the intelligence Of the men I'm
the business could be relied on 90 bring
out the right kind of organization to give
the real estate business new life and new