The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-03-27

and Work Toward Definite Ends.
The suggestion made by w. w. Hannah
in The Washington Herald two days ago.
relative to the formation Of real estate
exchange in this city, has created con-
interest among the local brokers.
1t was freely discussed yesterday by real
estate men who were asked their opinion
upon the subject
Mr.. Hannah is president Of the National
Association of Real Estate Exchanges,
and has been on a visit TO the city for
several days. He said TO a Washington
Herald reporter he thought the Capital
an excellent field for the formation of an
exchange which would bring into it's
membership the majority of the active
real estate men of the city. Mr.. Hannah
expressed some surprise that the step
had not been taken sooner, inasmuch as
the buying and selling OF property con-
stitutes one OF the largest enterprises
of Washington. lie thought that an or
ganization in which the peculiar interests
of the brokers could be freely discussed
would be of great benefit to them.
Not "A New Suggestion.
The formation OF such a body Is not a
new suggestion IN the Capital. 1t has
been discussed at intervals for many
years. Indeed, at one time. a real estate
body was formed here. which for reasons
seemed compelling at the time led to its
ACKNOWLEDGMENT. It is said that some Of
the local brokers were not willing at
that time TO abide by certain rules estab-
lished to govern operations in real estate
and that ii was useless for the few to be
guided by regulations which a few more
constantly did not observe. Il is under
stood that these difficulties had reference
TO failure 10 observe the rules OF listing
property and other regulations which the
organization declared were essential 10
its existence.
Some of the younger brokers are now
OF the opinion that the same difficulties
would not arise II real estate body were
formed. They have been in favor Of try
ing IT on for some time, and It seems
probable that II the movement were once
started it would have advocates enough
to carry it through to success. The real
estate business in Washington is uni
formiy profitable. Many firms have made
a great deal OF money In IT'S pursuit, and
It would seem feasible for the brokers to
come together and work out an organiza-
ton which would prove Of great benefit
TO them.
Younger Men Cautious.
Some OF the younger men in the busi-
ness said yesterday they were cautious
about starting the project. for fear that
some OF the older and more wealthy
houses would not join the body. and thus
leave the strongest element for good I'm
the organization on the outside. It was
felt that some OF the older brokers, with
the memory Of the old organization and
its fruitless effort In mind would not take
kindly 10 the formation OF a new body
If this could be overcome the younger
men are Of the opinion that the way TO
the formation OF the exchange would be
open.
Two ways were suggested yesterday to
form large and influential body OF real
estate men One vas TO form II as one
OF the adjuncts OF the Chamber OF Com
merce, and the other was to build up the
organization on wholly independent lines.
The majority OF sentiment was In favor
Of the latter course. The status OF the
exchange, whether as subsidiary to the
Chamber OF Commerce or standing upon
its own foundation is possibly not essen
tial
The main idea would be for the real
estate men TO come together In their own
organization and pull together for the
general Improvement OF the business in
the city. That this could be done is en-
tirely possible and practicable. provided
the real estate men see it So
Do Well in other Cities.
Real estate exchanges in other cities
have been productive of great benefit,
first to the men engaged in the business,
and, secondly, to the cities where they
exist. Through the exchange it is posi-
BILE to work out certain ideas for the
building up Of the cities according to
weli-estahlished plans which enhance the
value Of real estate. resulting in better
effects from the resident point az view
and leading ultimately to the beautidca-
ton and betterment of the cities them
selves. For example. the real estate men
have been chilly instrumental in st. Louis
and Chicago In building up the excellent
suburban effects seen in the residence
parts of those cities. In q district where
the ground and circumstances are favor
able the real estate brokers working to-
gether toward common end have ef-
fected marvellous results in the way of
fine streets and avenues fanked by splen-
did homes, many Of them of & better class
than is seen in Washington.
The work accomplished at Chevy Chase
and in SauIs Addition may be used as
illustrative Of what is meant. In those
the effort of development