New-York tribune., 1908-10-28
SELLING REAL ESTATE
SUCCESSFUL METHODS.
Joseph 2. Day Talks on Brokers and
-AuctoneerS at Vest Side School.

There present last night in the spacious
auditorium Of the West Side Y NJ. c. A, in West
9Th street who control real property on Man
haitian Island valued at many millions. They
formed one OF the largest meetings OF real estate
leaders ever seen under the roof OF the building
They there to hear Joseph P. Day one OF
the most magnetic and of the most successful
auctioneers ever identified with the local real
estate market, talk The Real Estate Broker
and Auctioneer' His address was the third one
in this years series realty subjects in the 18th
street institution. Day sought to analyze in an
entertaining manner the achievements which lead
to success in the realty FIELD and he attained that
object easily by picturfng his hearers imaginary
sales and often referring the details Of several
large sales in which he had figured. Frequently
he spoke in q numerous vein IN hope OF eIUcioaOng
"a realty pointer.
MUST HAVE MANY QUALIFICATIONS
He ernphaszed the fact that an auctioneer must
possess ali the qualifications needed 10 oe sue
cessfui real estate broker. and a good deal more
He must have perfect knowledge Of the VaIue OF
the realty wares he is offering, and while on liie
auction stand he must be ready to answer luIy'
clearly and readily al questions asked MN re-
garding the property. The auctioneer who faitereo
in his replies TO Questioners in the auction room
would not have the confidence Of his prospec-'Fe
buyers and without that confidence he couIo not
find quick and good market for his onerlngs ne
said he knew CT many auctiOneers who lacked one
or more essentials TO brilliant salesman on me
auction block and would never be on the highest
pinnacle in their line of the realty market
In explaining how necessary 1t was for success
fl1l au-tioneer 10 know thoroughly the properly
he was sailing and how to reveal its value in the
hest possible way to his audience, Mr. Day showed
the methods employed by broker in erecting a
sale He asked his hearers to suppose that tney'
with the exception CT the newspaper men present
formed the Acrny Real Estate Club The club want
ed to buy the building occupied by the West Side
woung Mems Christian Association and the struct-
ure was owned By he newspaper men
SOME METHODS OF BROKERS.
The owners wanted 10000 for the property It
was the intention of the club to use 1t as nome
for a turn verein The broker had taken com
rnittee Of the club over the property on tour OF
inspection. and at its conclusion the committee
and the broker were Of one mind as to the real
market value Of the property They placed Ine
value at $4,000 and therefore at Sooo0o the lowest
sum at which the owners would sell, the property
would be a bargain The question a TO the suit
abeness of The building for the club was discussed
That consumed considerable time The matter OF
the stability Of values in the district also care
fully considered. That, too required considerable
time
He then learned that the committee had changed
its mind as 70 taking the property al S50o,o9o but
was willing TO pay $4,000 That offer was rejected
~ the alleged owners. the newspaper men. Finally
the alleged prospective buyers and owners agreed
to terms and the contract was closed, the sale
price being $500 600 Mr.. Day said that a trans
action Of that type might cover long period. and
usually did and there was, therefore, considerable
time for the prospective buyers and brokers TO
meet and carefully inquire into every phase Of the
deal
TINE IS A GOLDEN ASSET
But n placing his wares before the buyers IN
the vesev street saIesrooms the auctioneer has
no tine TO indulge in long talks with his audi
erces' added Mr.. Day. Nor has he the time to
learn something important relating to the value Of
his wares which he had overlooked When he
staps on the block to ask for bids he must know
ali that II is possible for him other human
being 70 learn about the property he is selling.
The successful aucttoneer must possess at least
these three qua1lfcatfo or attributes; He must
know when is the right time 70 offer certain par
eel Of real estate: he must know how TO properly
advertise his wares. and he must be capable Of
quickly disposng Of them from the auction block
TIE best writer Of real estate advertisement Is a
person who as It were, has got the spirit OF the
realty market, or, N other words. he must be thor
ougLly corversant with the various realty move
raents and what are the factors which are respon-
s.bIe for the realty vigor OF each section. Ard
above all, he must be able 10 get prospective buy
ers 70 see realty matters from his point of view,
and thus lead them 10 the property TO be sold
When you get prospective buyers to view your
property you can safely estimate that the majority
Of them will be present the day Of the sale and
large numbers Of them viii be among the buyers"