New-York tribune., 1908-12-09
THE ART 0F SELLING
HOT BIG BROKERS WORK.
Iq7crence B. ELiman Tells Realty
School About Their Methods.

--e7-a + FYl;n1sn of the firm ot Pease &
z-ri--sn one OF the leading brokerage houses Of
IS CITY delivered address last night on how
: ssu real estate before the real estate school
= -se West Side YourE Mems Christian Associa-
.i0- - 57th street. near Eighth avenue He has
- actively identified with the real estate mar
- for ever twelve years. and n that time many
,-,-c--art changes have taken place in the char
,--e- ~ the various zones OF the city. especially
= - central Fifth avenue shopping district. which
a. recent wears has become sne Of the greatest
- shopping centres cf the world In the trans
<,7s+fo7 affecting that particular part OF the city
NJ EsIirua1 has been especially prominent
e-oke- ln many deals involving property valued
II many Millions
re emphasized the fact that he hoped the day
would come when II would be possible for
brokers better safeguard the interests sellers.
ss + from such persons that the brokers de-
-ses -r4ir principal income in the form of com
y lss5ors and not be the agents of buyers TO the
i-ss-v q sellers He said that In order. to obtain
r-.ch & -a5icai change in the methods Of market
s7r -ez- estate II would be absolutely necessary
f0~ so--e such large central BODY OF brokers as
n. Peal Estate Board Of this city TO take con
ce-red s-cn 20 bring about the desired adoption OF
never methods Il handling and dsposing Of real
estate
---6e- The present methods OF finding buyers for
-sal property = broker usually worked more in he
interests buyers e said that owners were large
II 81 fsut 1o- existing methods; instead OF rely
II entirely The ability OF one brokerage house
20 f1Id an acceptable buyer for the property, Il
zas tre custom Of owners &c place their properly
f. sac with large number OF firms. or. il fact,
VIII ANYBODY who appeared TO be willing to Try
n SCI t-. Therefore the broker also became the
confidential agent q the prospective purchaser He
vas practically the agent OF two persons and under
src1 conditions II impossible protect all in
-z-es-s -1ily-
BIDDING FOR PROPERTY.
vas ofte1 necessary 70 Offer Al owner 4 much
lsss price than Ine prospective buyer had an
rounce5 h. would be willing 70 pay, and sra1l-
~ bring about The lowering OF the asking price
70 poir- AZ which the minds Of both the prospec-
tre buyer and seller could meet and agree rpon
tens F1eqUeS1ly. owing % the competition 10
eject q Ezls property ard -he eaS7Tness OF
re-x ro purchase that a. much lower Price than
- cz-re-s asked ridiculous offers were placed be
<1-e owners for consideration. and such offers IN
c1esroaa biv have uHch weight II reducing the
owners asking Price Il prospective buyer cannot
re- 2 certain broker 70 sIbTTir much lower sum
<-- --s 1-ope--- than the owner wants ne knows
-hz- --ere are other brokers who would be only too
wiling 80 submit such cner. and f7r that 1ea-
zo- many leading firms were forced - place such
c-e-s tefo-e their clients
NJ Gilman further said
z z6-ls4 al r-~ hearers 7-ho thinking ot
s--e--E ia real estate fed as brokers 10 get con-
re--ez with some large brokerage concern on
cc-u.ssio1 basis II you accept salary no mat
- how energetically yo1 work OF how successful
vcu z-e rhe fo- your services Is no greater
tEz- -c-- sslar unless ycU consider as extra con-
pe-ssto- The horeo- YOU get for performing cred
fzbse work You are practically tieE down for life
unde- salary. and you sre really nothing more
thz- clerk II that cf1oz- Z person cannot earn
E-o6 livelihood from coUlIniss3ons from the sale
q rzsl estate him 70 leave the realty field
s1d sack another sphere where he VIII be able 10
larger SUNS
-s1r-- eleven years ago there no list Of
oE-e-s o. property published, and the real estate
f-ose-gEe houses of those days often experienced |
and n
dresses q owners in various sections Such lists
s-e nu- printed al6 those lists are fairly accurate
s-d z great help II bringing about the mar /
gs--rE OF properties The brokerage field is becou
IT, ore = speCizlJies. and advise any young man
" se r-f-s tr-o tre realty business 70 specialize
Z nan who has bsen brought up II q certain sec
ua- C The ciI- has better knoR7ledge o1 the I
changes c1zt hzv= taken place there than broker
40 resident ot another section but who de- I
E5es - engage n business II that district
As 70 = KNOWLEDGE OF VALUES
II * absolutely necessary fo- a broker 70 have /
thorough d-cvIedge % values. and person who /
--zz 7 have perfect idea OF all properties offered
n h--r fc- saie IS Handicapped in seeking TO be
cone s1ccessfal. because ne aims 10 do too much. 4
The --zn w-o knows everything about few prop /
s--tss Or about certain section Is likely 70 have
-s-Ee measure of success.
A t-aker should keep n touch with the various /
ozrs-z Of Ihe section II which he is active. and
-sls be da-e by writing &c the owners and by 4
]-c- brokers. The brokerage business IS not in /
- sane class as the lie Insurance agent and 4
e. lrz- reason ne s a welcome visitor 70 the 4
-as-r- owners Tie owners Ike 10 talk with him 1
beosz Sc he car usually tel them about the various
activities o. -1e market and This way keep them /
POSED as N -1e opportunities for disposing Of /
--af- --ore--les ar rhe most favorable times
.. broker should under al circumstances inspect 1
rr1-e-e es carefully which h offers for sale. and /
t..s he VI be able rot onlv % tax inteIiigently