Evening star., 1923-03-22
DATA TO SAVE j. s.
HUGE RENTAL SUMS
Cooperation of Realty
Bodies of Country Planned
at Joint Conference Here.
WOULD GIVE APPRAISAL
New Federal Board and National
Realtors Committee Ar
range Plans.

Plans for saving the government
huge sums Of money in federal rent
expenditures and realty transactions
through cooperation of the National
Association of Real Estate Boards
were mapped out yesterday afternoon
at joint conference between the
federal real estate board. recently
created under the bureau of the bud
get. and the federal cooperation COM
mittee of the realtors national asso-
citation, it became known today.
A definite program of procedure
IN checking up on government leases
about to be executed in various parts
OF the country by calling upon the
appraisal committees of the local
real estate boards for the benefit OF
their expert advice as to the fairness
OF the terms of the contract and til.
Falue or the property involved was
agreed upon at this conference which
took place at the Veterans Bureau.
1t was pointed out that with tbs
CONTAMINATION OF the governmental
real estate activities in he federal rea
esate board, the advisory committee
of realtors would shortly perfect an
organization that would make it pos
sible for the government officials 10
ontaln realty appraisals on real es-
United States with facility
Saving in Appraisal plan.
At the joint conference il was
brought out, as an indication of the
saving of federal funds which might
be effected through the appraisal
plan, that the real estate board in a
large city recently made an appraisal
OF a post office lease proposal in
volving millions of dollars on the
basis of annual rent over long
term of years. which resulted in the
discovery that other property equal
ly suitable was available at mark.
edly less cost to the government.
Maj. Sidney Glenn Brown, vice
chairman of the Federal Real Estate
Board, told the conferees that the
board particularly needed the assist
ance of the realtors in determining
values of property, to aid it in nego.
tiating leases and other realty tran
sactions. The members Of the advis-
ory committee of the National Asso-
citation Of Real Estate Boards in.
formed the government officials OF
the character of their organization
pointing out that the association con-
sists of about SEQ local constituent
boards in as many cities. and thai
practically every board has its ap-
praisal committee, composed of loca
realtors who were considered expert
in appraising real estate.
Services Formally offered.
Following the conference at tn,
Veterans Bureau the realtors ma.
tional committee conferred with Brig
Gen. H. NJ. Lord, director of the bu.
reau of the budget, and formally of.
fered to him the services of theil
national Association in CARRYING ou
the plans laid down. Gen Lord sale
he heartily indorsed the principle o.
seeking the advice and cooperate
of business and professional men il
developing the work of his bureau.
Gen. Lord explained to the commit
tee that the government has approx
mately 5000 leases. not including
leases of less than $500 or for period:
he said. represent an aggregate renta
value of s21,000,000. 1t is expected
the director pointed out. that the co
ordinating work of the federal rea
estate board will eliminate duplica
tion utilize waste space and in othe
ways effect a material saving in tn,
governments rent bill.
Representing the government at TIL
Joint conference were the following
officials and members of the fedora
real estate board: James A. Wetmore
chairman; Maj. Brown, vice chair
man; Lieut.. Commander c. w. Cairns
secretary; Jacob Metzger, State Depart
ment; John A. Schafer, Treasury De
artment: Maj. H. Z. Moore. War De-
partment; Charles F. Trotter, Posi-
master Generals office; Capt. A. L
Willard. U. S. N. Navy Department