The New York herald., 1922-12-17

onistic. He feeis merely that the pro
posal, In 90 far as he heard IL outlined
at the meeting on Thursday night, has
some dangerous possibilities which he
admits might disappear on closer study
If were called upon to cast vote
for or against the adoption of the sys-
TEN now" he said II should not con-
slider myself justified in approving It,
The board will have to move slowly in
this matter as II is an extremely i'm
portant one. presenting many phases
that on hasty scrutiny would seem un-
favorable.
I'm a locality where there were only
nfteen or twenty really active brokers
the plan might work very well. But IN
a vast field like New York city l ana
bit afraid that it would be cuuIber-
some and productive of complications.
For one thing have several clients
and feel sure that this is true of all
other brokers-who would object to hav-
ing their properties shoppcd around IN
an open market The answer is that
could have these properties exemptet'
from listing by informing the secretary
of the board Of the circumstance
Would that not mean eventually tina
too many properties would be thus cx-
empted fto give the echeme .air test
or make its operation worth while?
Sees Adverse Possibilities.
"A broker might have the best of in
Ptentions. but, after all, he is only human
and II Is conceivable that the general
tendency might be TO encourage any re-
luctance that the owner might feel abour
listing his property. In certain cases 4
hight even be the brokers duty to point
out TO the client the fact that multiple
mil N - a
erty. In that way there would be prob
ably unwilling violations of the code or
ethics, and the ethics committee OF the
BOARD would be working night and das
Intangling the mixups.
'On the other hand, if the system
proves beneficial generally speaking, to
the interests OF the owner, II might be
worth while to adopt the system anc
accept the entanglements as a n-ces-
sary evil I am willing to be convinced
From the data at hand It looks to ne
as though the system would be espe-
cially impractical in tho sale Of big Of
flee buildings. Even 81 the owner of
such a property would consent to have
IL listed, he would certainly object 70
revealing the scale OF rentals prevailing
throughout that building and have that
information disseminated throughout the
membership OF the board. without in
formation Of that kind at hand no broker
could hope to effect a sale.
"Still the scheme may prove itseE
worthy of adoption In this city. In thai
connection we VIII not need 70 fear that
/ Il will not receive n fair hearing. The
| srecial COMMITTEES appointed by Mr.. Ed
wards can be relied upon TO weigh care
| fully all the evidence Dor and against.
From Operators Standpoint.
Some OF tho salient objections to the
multiple listing system, from the oper
ator's point OF view. were outlined for
THE NEW yGRK HERALD BY Clarke @
! bailey. vlce-presldcnt OF he Alliance
Realty Company and one OF the govern
ors OF the Real Estate Beard. The oper-
7tor, he declared. wo"ld not take kinds
20 the system unless all the active mem
bers Of the board were included
The bloc or group method OF trying
out the plan adopted in some OF the
other cities" he declared. would not be
| attractive to operators here, especially
before all OF the leading brokers' hac
'ome into the system. because if he ties
! himself up exclusively 10 n small group
n a system he would not % able TO do
business with all brokers who we're stu
| outside.
Should the system ever come TO be
established IN this city I think II would
I tend 70 make real estate more liquid. b
cause a seller would wish quickly 10 he
| bic 10 reach a logical buyer. IL Is also
! robable that because of the broad mar
! ',et obtained through this system price
more nearly the actual value of the
property would be obtained. This NIGH
| ~ considered an objection by some cr-
orators who suioy picking up bargains
"I think on the whole that the chances
| OF multiple listing being adopted In this
| 'lty are very slim. bt 4 the bis
| brokers themselves viii be In favor OF ~
| N the city the leading brokerage organ y
| zations have been built UP on scaie
| lmost as effective as the multi~le lis
| ne system corld be in the e~p'dit 'ous
| sale OF real estate. They have big staffs
OF competent statesmen. and in some
cases several branch offices. and their
1 ability 10 establish "a quick route to
logical buyer would scarcely be en-
hanced by the adoption Of this new syr-
tenn"