New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-30

All is quiet now at PIT Broadway,
e headquarters of the Real Estate
oard of New York. Up to last Thurs
" afternoon, when committee of
.irteen active and associated members
ct. it looked as if the old organization
ould be wrecked, for brokers were
rayed against owners in a battle
fer the rate of commission that would
paid for the service which the active
ember gave to the associate member
Never in the history of the real
tate organization has there been a
ore critical period. The storm has
used over-temporarily at least-for
Q brokers have submitted to the own
5. and from now on the old rates for
G renting Of apartment property will
.evail
Last October the Real Estate Board
New York voted unanimously for
CHER rate of commission for the sale
ID renting of property For three
ars the brokers have been agitating
higher rate. The title companies have
creased the cost of service which
eY render, and in every way the cost
doing business has gone up. Brok
asked for more commission. and
ter many meetings, which. Of course,
are not without dissension. the board
ted that the rates should he moved
80 IA per cent on rcntais Of two
I'd one.hhlf years or less and / u per
mt eli fentais Of more than tWo and
.e-haif years. neJintely owners
apartment house,. members Of the
al Estate bonfd Who should be con
oiled by tho vote of the entire body,
'nounced that they. would not pay
higher commissions and would in
all renting STATS of their own rather
an pay commissions Of IA per cent
,oye what they paid before the vote.
Threaten to Leave Board
* number of real estate brokers who
ierate in apartment house sections
.ade similar announcements, since they
ere aware of the opposition Of the
'artment owners to the higher rates
hey tod their fellow members that
tey would have 10 quit the board or
sc not abide by the new rates unless
,;ne notifications were made for
leir benefit.
But the board had decided that own
. should pay more for the services
brokers, and there the matter stood
atli last JANUARY, when a number Of
cokers in apartment house sections
'pearcd before the board of govern
IS and demanded that the rates be
oaihed II the board desired them to
man. The governors were told that
large number Of associate member
nich is the membership extended to
roperty owners, would leave the Real
state Board unless action was taken
yorable to their interest.
Inc governors then passed resolu-
on authorizing President Stephcr
yhg 10 appoint committee Of at
asst ten members composed equally Of
rokers and owners to consider the
uies IN relation to the commissions on
Asses and sales and to report to the
oaro II 1t thought any change should
Committee Appointed
Alfred f. Marling was selected chair
an OF the committee on which ]. z. X
arpenter, f. p. Blake, Douglas /,
iilman, Ranald II. Macdonald, Waite,
ADLER, n. A. Berwin, Albert y. Ash
! nth, Robert f. Bowling, Franklin
sttft, William Cruikshank, A. w
sancis and Edwin De Witt were asked
,, serve.
The committee met on Thursday af
rnoon last with full power to recon
der The entire question Of commits
ofie, DuV Vbiy inc commission Charged
: n serylce 70 apartment house owner,
as taken uD and the committee de
: ded tnat the rate should be reduce,
, the old level, even though the own.
Z ~ Of apartment houses arc financial,
sitter able to pay the higher rates to
ay than ever before. The rates nov
and at z1z per cent for two and &
aif years or less and ] per cent OF
&c total Of rental for "a longer period
The decision brushed aside the storm
Jhleh threatened TO disrupt this OLE
! rganizatIoD, perhaps the greaten'
( poster Ncw York City has. Propert,
@ne,s. invited into the brokers or.