The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-11-17
LAW FOR LICENSING
REAL ESTATE men
AIMED AT "SHARKS"

The purpose OF the license law for |
real estate men is not purely to limit |
competition but is designed to elimi- |
nate the shark from operating in the
community" stated F. d. Miltenberger
of Muncie, before group of about 80
local realtors, real estate men and
guests at the banquet held by the Rich
mond Board of Realtors in the Airing
ton hotel at o'clock Thursday even
ing. The speaker supplemented this
remark by stating that wholesome
competition is to be desired since 1t
-accelerates all business and enables
buyers to obtain their wants at the
most reasonable prices.
1T is known fact that law, In it.
/. self, will not right a wrong. but a
stringent law will produce fear in
the hearts of those who indulge in
evil practice and will in time eliminate
them. The creation of law always
reacts to influence certain opinion in
its favor and if it is a good law, will
soon win the support of the public
generally" the speaker continued.
st may be said that anyone may get
"a license under the new law. That
may be true, but it viii be much hard
er for realtor to keep the license
his license he will not be allowed to
transact business and will be with
out the pale of seLrespecting and law
abiding real estate men everywhere"
Law is Necessity
The license law is a necessity, said
the speaker because it fixes the re-
sponsibility of an honest real estate
transaction upon the real estate deal
er that holds the license. He also re-
ferred to the property abstract as one
of the most fundamental factors in q
real estate transaction, stating that a
licensed real estate man must have a
knowledge of the wording of these
documents, and in this way can be
one of the most indispensable serv-
ants of the public.
The speaker stated that the license
law for real estate men has been
adopted in IA states, and he read a
survey of the results gained in these
states since its adoption. He fol-
lowed with an explanation of the law,
stating that it would be necessary for
every active man in the real estate
business to be licensed
Mr.. Miltenberger dwelt briefly on
the meaning of the term, "realtor,"
stating that this is a name which may
are members of local boards of real
tors. The legality of the term has
been tested in the courts and is now
protected he said
Guard Against selfishness
This is the age of cooperative eff
fort and we don't want this organiza-
ton to become selfish" stated Paul
o. Meredith of Indianapolis, executive
secretary of the state board of real
tors who proceeded the principal speak
er of the evening.
The speaker cited instances where
the cooperative spirit is being dem
onstrated within the body of realtors
boards and as specific example re-
ferred to the process of multiple list
ing, practice which make it possible
for all realtors to present to buyers
the properties which they have. for
disposal in the offices of their COM
petitors who are members of the
boards.
Should Study Taxes.
Mr. Meredith lauded the work of the
present state board of tax commission
ers and stated that all realtors should
study the tax question in order that
they may better serve their clientele.
The speaker stated that, as a matter OF
service to the public, the most efficient
real estate men of community should
offer their services as appraisers, for
who, asked the speaker, can be better
qualified to know the real value of a
piece of property better than good
real estate man?
Joseph Schmid of Indianapolis
president of the state board of real
tors, also made brief talk in which
he made a plea for better streets anG
roads. He also laid stress on the i'm
portance of organization in the ranks
of real estate men stating that it i:
not only for the good of the realtors
themselves but is a good thing fol
the community.
State Officers Speak
Oliver Lafuze of Liberty. joint rep
resentative in the legislature from
Wayne and Union counties, and James
NJ. Knapp of Hagerstown. representa-
tive from Wayne county in the STATE