The Washington times., 1910-04-02
REALTY BROKERS
MAY COOPERATE
Many Local Dealers Declare
Intention of Joining
Exchange.
ARGUMENTS FAVOR
NEW ORGANIZATION
Institution Will Be Radically Diff
ferent From Its Predecessor,
Which Failed.
BY JOHN MARTIN.

Washington real estate brokers may
make another attempt to establish
local real estate exchange.
The proposition has been discussed in
formally recently by the heads Of sew
, eral weIl-knOWn local firms, and has
generally met with favor.
Lack Of cooperation among brokers,
which IS becoming more pronounced
with the constant charging Of the Capt.
tals real estate business. is urged as
the principal reason why an exchange
should be established at this time.
Just what method will be devised for
putting the movement on its feet has
not been determined. bat it is consid-
cred extremely probable that the matter
viii be taken up in earnest within a
short time. Some of the officials OF
the old exchange. which ceased to exist
about eight years ago, are among the
most enthusiastic Of those who favor the
project
Many Would Join.
It is said that not a few firms, which
did not join the former association, have
made known their willingness to assist
In organizing a new one.
To properly owners and persons in
terested generally In the development
or Washington, the announcement that
an EFFORT Is TO be made TO organize a
real estate exchange will be received
win satisfaction.
II the movement materiaIizee II will
mean that Washington will take her
place among the progressive American
CUES which have provided for the
handling Of their real estate interests bv
cooperative methods which at once
tends 70 create more stable values and
ton
Various reasons have been advanced
Tor the failure of the Old exchange In
order to establish an institution which
VIII be enduring, II is conceded that
tpese reasons as well as others of an
anttcipatory nature, will have 20 be
taken into account. Therefore, the work
of organizing necessarily will have 10
proceed along lines radically different
from those followed formerly.
Concessions TO Be Made
oncessions Of various kinds will have
TO be m@de. it is agreed, before a salts
factory organization can be worked out
but it il believed that these can be Sc
cured with little difficulty
one Of the reasons given for the dis
bandment Of the old exchange was the
small attendance Of memIe~s at the
daily meetings
Another was that firms were not will
ing TO nle with the exchange their listed
properties.
Lsotil VI THESE features may BE- TeC1I-
lated 80 mat they will receive the sun
port or practically every firm In the
city, IL is declared. Instead of holding
daily meetings. the exchange could meef
once a week, when the members could
DISCUSS conditions obtaining throughout
the District
II II should he found 10 be unwiso TO
transact business through the exchange
by recording the properties listed Win
me various firms. the institution could
pe maintained for the purpose Of reCI-
iauhg the business practices among
clients. '1
Good Reasons Given.
Eliminating the bulk Of objections
that may be raised TO the establish
ment Of an exchange, there are enough
reasons left In support of II % Justify
every real estate operator indorsing
the project Among the principal bene-
fits which would be derived from such
an institution, IL is said, are the fol-
lowing:
First. the natural results that would
accrue from the cooperation Of the
brokers'. This would make itself felt
IN the eradication Of illegal and in
JI1ous practices; the creation Of a code
OF ethics with respect 10 business trans
actions, and the giving of healthy
tone 10 market values through the con
ndence the exchange methods would in
splre in the public.
second, the providing Of the means
Whereby the Capitals best authorities
on real estate values could elpress a
concentrated opinion on all matters af-
tecting the city'S real estate Interests
tnat come before Congress
For Publicity Bureau.
Third, the maintenance OF a publicity
bureau where Out-of-towu investors may
secure immediate and accurate in
formation as 70 conditions prevailing in
various sections of Washington
As an example Of other benefits which
would be derived. It is pointed out that
the quarters of the exchange could be
used for the holding Of all auction sales
OF real estate
Washington IS, at present, about the
only large city in the East which does
not support a real estate exchange
The absence OF such an institution has
proven no little Of a drawback to out
of-own buyers who have attempted 10
ootaln Information regarding oppOrtuni-
les ror investment in the District
With the local real estate fraternity
acquiring new members at an unpreca-
oented rate, and the demand for prop
erty constituting the CaDitaTs real eq-
tate market one of the most active OF
any 10 be found in the United States II
Is maintained that the establishment of
an exchange at this time would be par
ticularly Opportune.
Resources Exploited.
But the fact remains that the markets
resources are exploited by individual en-
terprises; that there is no precedents