The New York herald., 1920-01-04
Bv JAMES CAREY NARTIEN.

The opportunities for the real estate
broker 10 serve his client in the many
ramifications of appraisal work are 50
important, both to the client and the
broker, that it Is incumbent upon all un-
dertaking appraisal work to thoroughly
study the values Of properties under ap-
praisement and be prepared not alone 10
give to the client an accurate appraisal
Of property, but also to be in position to
advise as to the utility of property, so
that the funds thus invested will be pro-
ductive OF the highest returns.
Real estate enters into all phases OF our
communities development. When one con-
siders that the entire population must be
provided with housing facilities. as we'll as
places in which to conduct business.
whether these be offices. stores. ware
houses or factories, and then recall that
it is the exception that a merchant manu-
facturer or financier has knowledge OF
the values OF property or its utility. 1t Is
apparent that the broker has unusual op-
portunities to serve his client in an ad-
visory capacity. Not alone can he guide
him in the price at which properties may
be purchased or sold, but he can study
his clients requirements and judiciously
direct him I'm his acquisition OF propertiC >.
ut lIut lil'ltA Oh Ndlut tHn Dt utItF-
mined when property IL improved to its
highest utility through capitalizing the re.
turns therefrom. AS il Is rare that land
Is improved to It's highest utility. IL there
Tore becomes Incumbent upon the broker
To- have sufficient knowledge and vision
OF the utility Of land to arrive at its pro
ductive value through the proper improve
ments erected thereon.
II real estate brokers throughout the
country will devote their close study and
attention TO the proper development of
their respective communities, they can so
mould the growth OF their cities az 10
stabilize values and create greater con-
fidenco In real estate. this being particu-
iarly true with our financial institutions.
ny thus stabili2ing the value OF property.
money is more available for mortgage
loans. Where it Is possible 10 readily
finance our operations the demand for
reai estate becomes active. The result is
lnat real estate becomes more LIQUID as
set, and Is viewed with greater favor. b,-
our financial institutions. This encour-
ases our clients to more freely invest.
10 hltle attention has been given to the
ciose study OF values, and brokers will
find that time thus spent Is productive
Oh the highest returns In dollars OF any
ness. ~ '~" JUST
urough report submitted az the CON
rsh,ion OF the National Associstion ~
o1i Estate Boards. held at Atlantic CITY
-. .une OF this year, II was recommended
sroup appraisals should be adopted
- ho various boards throughs tho couu-
u!' inis involves the maintenance OF
az appraisal committee by each associa-
,ion' ana when properties are TO be ap-
pi"sea lhTee mon conversant with the
I'ypc OF property under considerat ton
snouiu oe APPOINTED and they after the eX-
snlnsuon or the property will submit
report that would be regarded as au-
lhentic and thoroughly relied upon b. the
parry Tor whom the appraisal Is made.
While there will be necessarily much
uine devoted to such work the compensa-
uon should always be regarded as OF
secondary Importance. as the develop-
ment OF our business through creating
greater confidence in real estate will be
most productive. a further opportunity
Tor brokers to actively participate In
moulding their communities DEVELOPMENT
and which also relates to the study OF
values IS TO watch properties that are de-
preciating and determine the higher utility
or such properties. This Is a field that
gives opportunity for the most efficient
Work cf brokers and the responsibility Is
upon them 70 convert depreciating prop-
critics into a utility that will not alone en-
nance the value OF such property but will
also provide added facilities for the de-
velopment of their communities.
While there have been various rules sug-
sested that might be adopted as a guide
or check upon values, such as the uoff-