New-York tribune., 1908-03-25
REAL ESTATE ETHICS.
WHAT THE TERM MEANS.
r. T.. Ward Talks about Right and
Wr0ng Business Methods.

The word ethics is seldom heard either III 'ne
vesey street salesrooms, where property valued
at many millions changes hands each year, o. IN
the ma jority of brokerage offices in this city Aha
the phrase 1.-The ethics of the real estate business
is of such recent coinage that the average proKer
speculator investor would probaniy De soieis
perpexed if asked to express prleny "'a' , 81,
phrase means Last night before the feaii
estate school of the West Side Young "7
Christian Association, No. 800 West o'th ST.
Francis E. Ward, former president OF 'ho
Real Estate Board Of Brokers' toio ms hoa
e:S his definition of the term, as 'ia' ~.
the subject he asked by the managers y, ~
school to discuss. He endeaVoreo u pies
weipbtv subject in bright and interesting man
ner and he succeeded in doing So FOR ye"i . W.
directed efforts have been made 10 erauica'o - -,
who pursue dishonest methods IN oealiis W."
buyers and sellers from the real estate marAe anu
to elevate the calling OF the real estate oioho ~
the dignity of a profession. To-day the real ESTATE
market is noted for its many brainy men Oh s.ef
ling character and the great opportunities II o @
to young men willing to work and Win the apii'S
to master the many intricate realty prooieils VI
the great metropolitan real estate fields MI. "aro
hos heen nrominent in many ways in helping to
bring about the many and remarkable changes Ior
the better in conducting the real estate business
which has taken place in the last ten years 1hat
is probably the reason he was asked to reveal last
night the real estate school the ethics oi 'iAs
real estate business.
Mr. Ward said that every professional or bus-
ness life has its ethical side. The foundation OF
all business must be real honesty. and honesty
meant only one thing straightforward dealing with
every person. Some years ago when there were
series of the drygoods trade the express
sion was frequently heard that man possessed
.drygoods honesty" By that was meant that
though he had always been considered to be man
Of irreproa chable character he had failed and the
failure had revealed his character in a very dif-
ferent light There was however. no such thing
as "drygoods honesty or any other kinds OF hon-
esty; a man either honest or dishonest. Hon
esty something more than pursuing the best
business policies.
Il have often pondered over the question as to
what was the fundamental element of success" "
said MIR. Ward. Some years ago l met In a
streetcar a professor of the School of Mines OF
Columbia University. He said to me: I was just
thinking to what the essential of sue
cess am of the opinion that 1t Is the ability
to differentiate between the essential and un-
essential and then to act accordingly Ihe
who casts aside the unessential things In
the road TO the goal of success in the realty
field will find the road very much shortened
Work when there is work to do and play in play
time. A to succeed in any calling must
have ability. President Roosevelt was quoted
g saying, when he criticised for an ap-
pointment he had made which displeased certain
influential If there was any plumbing to
be done in nv house I would rather have
a bad man who good plumber
than a good who was bad plumber do
not believe that a who masters a craft or
VINO is a skilled craftsman can be a bad man. for
in mastering a trade he has obtained wonder
full and enviable power over himself A man to
succeed also be self -assertive or, In other
words, colloquial expression, he must
have backbone. In speaking to prospective clients
the man who aims succeed in the real estate
market must say what he has TO say quickly and
plainly. Thus If what he has to say does not re-
suit in a deal in which his hearers figure his hear
ers viii bear him in mind and later call upon his
services. We fed by the reaper, clothed by
the sewing machine and housed by the real estate
So the whole activity of the realty man is
to provide with proper housing The broker who
interests.
DO not overlook the power of silence. Many Of
the most successful men first suggest and that
suggestion adroitly reveals to them what those per-
think about the matter whose opinions they