The Washington herald., 1922-01-15
WHEN CITIES HAVE
GROWING 'SPASMS'
TOLD BY REALTOR
Expansion Without Con.
gestion Problem That
Faces Cities.

A healthy, energetic city 10 like
a healthy. energetic chiid-it grows!
The peculiar problems which con-
front the realtor as q result of this
expansion are ably discussed In this
article by Mr.. Ellis. whose penetrat-
ing study Of conditions N Detroit
may be applied as well to any
growing city.-Editor.
What is the function of a
broker?
First, to bring to the buyer
quickly and eficiently those proper
ties most likely to NIL needs and de-
sires.
Second. to bring buyers to the
sellers of property.
Third, to conduct all the details
Of the transaction SO that the inter-
est Of all parties interested will
be cared for. To see that no mis-
Understandings are allowed to arise
and that the service rendered shall
be satisfactory to both parties.
The FIRST requisite toward this
end is acknowledgement a little
knowledge. but a thorough knowl-
edge of the properties offered for
sale. This thorough knowledge
can be secured only through spe-
cislization and the broker is far
better equipped to render eficient
service to his client who has a thor
oush knowledge Of a small terri
tory than with a superficial knowl-
edge of a large territory.
When a broker attempts to sell
Isolated listings without knowing
the prices Of other properties for
sale in the neighborhood. he may
Internationally do his client an in
justice. The man who purchases a
house for $4,000, and finds out
subsequently that there were other
houses In the same block just as
good as the one he purchased for
$4,000. Is very likely to think un-
kind things of the broker.
II he has absolute faith in the an
tegrity of the broker he must come
to the conclusion that the broker
did not know his business and that
he has been made to suffer through
the brokers' ineficiency. II ne
gives the broker credit for knowing
his business. then he can be par
doned II he questions his integrity.
The broker, in this instance, may
have been entirely innocent. He
may have believed that the prop
erty he sold his client was good
value, but the fact that the buyer
subsequently learned that at the
time he purchased the property
there were others just as good as
that he bought for $4,000 less. can
not reflect credit to the activity OF
the broker.
Lack OF specific knowledge
causes the real estate salesman to
indulge in generalities and an In
clination to force his opinion upon
the buyer. The opinions of the
salesman should be backed up by
conclusive facts. and when In Dos
session of these I believe Il is far
better for the salesman to reveal
these facts to his prospective pur-
chaser and allow him to draw his
own conclusions.
In order to render the best serv-
Ice TO buyers OF real estate, 7 be.
lieve 1t Is necessary for a broker to
conduct his business more along the
lines of merchandising. To be ex-
plicit, the shelves should first be
stocked. The merchant today who
continuously says to his Gus
toner: mo. 7 have not got II. but
will get It for you" soon falls un-
der the competition Of the pro-
Eressive merchant who stocks his
shelves with the most salable mer-
chandise.
II we wait until a prospect comes
to us. and then rush out and en-
deavor to find something which fits
his needs and desires, are we not
like the merchant who says, ct will
get II for you?" II we stock our
shelves with carefully selected list
ings of properties worth buying.
we can then render a service that
Will bring the buyers to us in in
creasing numbers. 1t is access to
these buyers that makes u worth
while for the seller to pay the
commission. brokers must earn
commissions to have them multiply.
ana they must be earned not only
according to law. but as just COM
pensati'G for services rendered.
National Real Estate Journal