The San Francisco call., 1909-12-04
OUT OF TOWN BUYERS
SEEK LOCAL REALTY
F. NJ. Pickering Reports Activ-
ity in Market

Despite the fact that last week was
a holiday week, and that prospective
buyers were planning to be at home
for Thanksgiving and that business
was brought to temporary lull, the
realty market failed to suffer on this
account Many deals for large proper
ties were consummated in the various
parts of the city, and as rule the
purchasers were out of town buyers.
THE activity of out of town buyers
during the last few weeks shows clear
ly how the future of San Francisco is
rated by our neighbors," said F. Nj.
Pickering, secretary of Baldwin &
Howell. Yesterday Merchants farm
ers and professional men from all parts
of California are investing their sur
plus cash in San Francisco realty, Sc
lecting as a general thing unimproved
business property for speculative pur-
poses.
wherever you go throughout the
interior of California you hear of local
individuals who are buying San Fran
cisco property. Crops have been good.
The farmer, with plenty of money, has
patronized the store keeper generously.
The merchant has seen his bank bal
ance swell to proportions that have
caused both him and his customer to
look about for investment. For a
while these out of town capitalists are
01fQQenI the san tTaD-
cisco market The city looks big to
them; it is hard for them to grasp the
proper perspective. and. not knowing
where TO go in order to locate good
San Francisco buys, often hesitate and
hold their money for months before
they venture into purchase. In fact,
where there is one actual investor from
the country, there are 10 who are quite
willing and more than able to invest.
providing they feel sure of the firm
whose advice they are asked to fol-
low.
This, of course, keeps some sales
back, but experience is teaching them
what firms to trust for advice, and to
these firms the out of town investor
is becoming a valuable and carefully
protected client. The secret of success
in the realty business depends upon the
profits of the purchaser, who is gener-
ally guided by the advice of his real
estate man. If the buyer makes money
but it is only after many experiences
that the average out of town investor
accepts without question the advice OF
his broker.
81 believe that San Francisco realty
men can make no wiser move than TO
cultivate the confidence of the small
town capitalist There are thousands
of whom would put from $4,000 to
$4,000 into San Francisco realty if he
knew as much about the market as the
up to date city real estater does When
they hesitate to buy, it is because they
fear that the situation has been ex-
aggerated, which is a great fault of
the average broker.
If every real estate man in San
Francisco would realize that it is bet
ter to be too conservative with the
out of town buyer than too enthusi-
astic. and would get right down to brass
tacks and make it point to get the
visitor in on the ground floor of the
very best proposition in the office. they
would find in the long run that the
bulk of their business came from
sources outside of San Francisco. For
every visiting investor there are 10
more of his friends at home waiting to
see how he has been treated"