The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-03-26

Is JAMMED WITH
/. INTRICATE TASKS
Big Responsibility Is
Placed On Brokers
Through Selling Art.
ABILITY
Many Complications Arise in
Course of Average
Transaction.

In the various theories thus far
advanced in favor of raising the
standards of the real estate pro-
ession and the requirements neces-
Fary to qualify as a licensed agent,
title or no stress has been brought
10 bear on the all important propo-
ttion of a realtors responsibility.
trust Is created between the
pwner or owners Of the real estate
fnd the agent.
The agent Is retained to sell. rent,
ppraise or manage a property or
properties. All three are import
ant, as they require decision and
hction that demand the direction
pr skillful. experienced trader and
he careful. efficient precision of a
well trained detail organization.
The sale OF Real Estate.
In negotiating the sale of a prop
frty for an individual or an estate.
pm agent assumes a position of
high responsibility. So many COM
plications arise in the course of the
average transaction that permit the
bgent or owner to exploit each
other. The unexpected so often
happens, and II 1t has not been pro-
vided for by the terms of the con-
ract, ethical adjustments beyond
he contract are only possible when
he parties thereto are equally dis
posed. So 1t Is quite essential that
Realtors negotiate slowly and dis
freetly. yet fearlessly. An agent
might be OF irreproachable char
fcter. energetic. sincere and loyal
20 his client or ward, yet if he is
Inexperienced as a trader. unskilled
as a negotiator and lacks an ef-
Bcient detail organization or an able
legal association, he is apt to make
tostly erro9t for those whom he
represents. The loss might be In
urred either by making a bad trade
br by failing to make one when an
opportunity was at hand. ----s- 20
Renting Looms Important.
Negotiating a lease is just about
as important as a sale; in fact, IL
really requires more careful scru-
tiny. OF course the legal side is
Important. but the realtors respon-
sibility is two fold. First, he Is
Expected to be thoroughly familiar
with the legal end, in order that
any special clause or restriction
that might be particularly essential
10, that certain property has been
added to the general form by his
attorney or legal department. Then
in addition to the regular negotiat-
ing necessary to a sale, a vest
pocket pedigree of his prospective
tenant is also essential
The diplomacy that Is required to
negotiate with tenants Is a rare as
set and unless an abundance of. the
same is inherent in the agent, he
must have a very definite under
standing OF what Is to be and what
is not to be previous to signing OF
the articles. or he Is apt to in
golve himself and those whom he
represents in an unpleasant ten
ency.
Appraisements Play Big Part.
Realtors are frequently called
upon to pass on the value Of prop
erty and very often their appraise-
Iment is used as the basis OF a
transaction. The appraIsements may
be made for sale, loan or tax pur-
poses 1t isn't reasonable to expect
an individual without training or
Experience to arrive at a safe value
The demand for reliable appraise-
ments Of real estate by banks. loan
companies. estates, corporations and
individuals is rapidly increasing
THE quality of the work done will
have an important effect upon the
future of the profession.
The large corporations of the
country are forced to use profess
sional appraisements as the basis OF
value for practically all Of their
real estate investments. Realtors
in the agricultural. mineral and
lumber belts are usually found to
be the most practical authorities
on the natural resources of their
respective localities. They can
usually furnish you with first-hand
Information acquired from actual
workings in regard to a strata of
rock. a vein of coal. a deposit of
| clay or the acreage yield of a tract
of timber. An engineers report
| would be much more costly and Is
| frequently found to be of less prac-
tical value. Reputable and reliable
realtors are actually rendering such
service with a high degree Of ef-
| ficiency to the public throughout
the country.
Property Management.
The large real estate and trust
| companies OF the country have as
their biggest real estate problem
the management Of property. Some
of IL comes through voluntary
agencies or trusts, but mostly
Through decedents' estates. Prop
| eyty management entails all the
diseases to which real estate is sub
ject. 1t requires well trained ex-
| ecutives and an able clerical or
! ganization. Taxes. insurance, water
rents. repairs. etc, are elements of
| the most Importance. Some of the
large companies have found 1t
necessary to train specialists In the
various branches where the amounts
paid for assurances. taxes, repairs
and the management and mainte-
nance of buildings are so large that
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