Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1909-01-21

knows how to go about marketing
his property, but man who has
only one or two small holdings to
dispose Of is apt to 60 wrong. The
value of real estate depends largely
on It's being convertible into cash.
The average owners idea OF how
to sell his real estate is summed up
in listing it for sale with as many
brokers as possible. That is where
he makes his mistake, the extent of
which he may better understand If
he will let us first point out what
the duties OF his broker should be
aud then show him why no broker
can discharge those duties under
the prevailing method of employ
ment.
A broker receives his pay from
the real estate owner whose prop
erty he sells, and he should repre-
sent his employer as faithfully as q
lawyer represents his client. The
first business of the broker is to ex-
anime the property and locality,
estimate the value of the property
from personal inspection of the
premises and tell the owner wheth-
er his asking price is too low or too
high. After the price has been
made right, the broker must make
every effort to sell the property as
soon as possible for the most money
and on the best terms obtainable.
In order to find bidders he should
freely advertise the property for
sale through the best advertising
mediums, and in the most effective
way, and should by every means
bring it to the notice of as many as
possible of the people who are in
the market for real estate of that
general character. Such is a par
tial summary OF the duties of the
conscientious and efficient broker
Under prevailing conditions Of
employment he can do none Of
these things. The property being
listed with number of brokers
and the owner retaining the priv
lege of selling it on his own accoun,
the broker cannot afford the time
and expense Of visiting the proper
ty, nor can he venture to advertis,
it by street and number, knowing
we'll that if he does SO an intendin.
purchaser may 60 directly to thu
owner or to some other broker
Besides, his chances of making
commission under those ciscum
stances are too small to warran
the expense of advertising. Whel
he does find a customer he canno
hold out for the highest price ant
best terms. Should he do SO, tn
customer is apt to 60 to anothe
broker or to the owner directly
, The first broker, therefore, is oftel
constrained to sacrifice the interes
of the owner in order to close tn
/, bargain before somebody else, tax
ing it from him, leaves him NJ
/, profit for all his pains. Under thi
system the usefulness of brokers i
: reduced to the vanishing poin
= through the short-sig htedness G
= owners, most of whom are 80 care
less of their own veal as to see
out agents who will do business i
this wasteful and pernicious fash
ion. Thus real estate often be
comes drug on the market and il
g value is impaired through lack {
4 any competent method of putin
: buyer and seller in touch with eac
{ other.
e What happens when an owns
8 lists his real estate for sale unde
the present system? The land
: entered on the brokers' books-ot
d yes; and if any man providentiall
: happens along who wants to buy
piece of real estate, he is handed
job list Of bargains Frequent
the broker has not seen the proper
ty. All he knows about it is whs
the owner has told him. He
:, ignorant of its appearance and SUI
:. roundings, of its state Of repair an
:. actual value. In a word, he know
;, nothing at all which a purchase
I needs to know. The prosperity
. customer looks at two or three
. of the bargains, no one of whie
: comes within mile of what
= wants, and all of which are price
!. far above their value. Then
y gives up the fruitless ques in di
gust and goes home.
1t is the system that is wron
Perhaps the broker does as we'll
n can be expected under adverse col
e ditions. OF a thousand items G
q his salesbooks, nearly all are liste
4 with half dozen other firms.
they are listed on an average wit
four agents, his chances are slim
earning commissions on one of