The Washington times., 1923-03-24
WOULD SOLVE
/ GOV. REALTY
| PROBLEMS
Realtors to Aid Federal Of
ficials in Handling U. s.
Properties.


Cooperation with the Federal
Real Estate Board Sn its effort
to handle Government real estate
problems was promised to Brig.
Gen. II. NJ. Lord, director Of the
Bureau of the Budget, by special
Z committee Of the National Associa-
ton Of Real Estate Boards this
week.
The realtors, known as the adj
Nisory committee to the Federal
Real Estate Board, held joint
conference with the officials of the
Federal Real Estate Board which
1s composed of James A. Wetmore,
acting supervising architect of the
Treasury: Maj. Sidney Glenn Brown,
executive chairman; Commander G.
w. Cairnes, secretary; and rep
resentative from each Of the Gov
eminent departments that are in
terested in real estate matters.
Major Brown, on behalf OF the
Federal Real Estate Board, ex-
pressed appreciation for the offer
OF assistance that had been made
by the National Realtors Associa-
ton. and stated that the Federal
Board particularly needed its as
sistance in determining values to
cid the Government in negotiating
leases and other realty transac-
items. The members of the real
tors committee informed the Gov
eminent officials as to the char
acter of their organization and
pointed out that the national as
ISOLATION consisted of almost 500
local boards In as many cities.
Practically every board maintainS
. standing appraisal committed
composed of local realtors. who are
considered experts IN appraising
real estate, 1t was pointed out.
Through the Capitalization Of the
work in the Federal Real Estate
Board office the advisory commit
tee win shortly perfect an organi-
ration that viii make it possible
for Government officials TO obtain
appraisals on real estate in practi-
cally any part of the country with
facility, IL was said. In explaining
the character OF this work one Of
the members OF the committee out
lined recent incident whereby the
board in his city made an appraisal
OF q proposition involving a post
office lease where the Government
was Offered building on basis
OF an annual rent for q given num-
Der of years which ran into millions
OF dollars. An Investigation by the
appraisal committee of that board
resulted In bringing to light that
other property equally suitable was
available. The cost of CONSTRUCTING
a. modern building would have
saved several millions of dollars
IN rent, permitting the Government
20 be the absolute owner of the
modem improved property. Another
instance where three separate de
partments of the Government were
leasing space in one building al
three different scales Of rents was
cited as an illustration of the pos.
sibilities of saving the Government
huge sums of money by the CEN
fralizing Of all of it's real estate
business In @the hands Of the Fed
eral Real Estate Board. This fact
was brought out by General Lord.
who declares that the Government
had approximately 5000 leases, not
including leases OF less then $500,
or for periods of less than one
year. These leases represent an
aggregate rental value of $21 900 900.
It Is expected that the coordina.
ting work of the Federal Real Estate
Board will eliminate duplication,
utilize waste space and in other
ways effect a very material saving
IN the governments rent bill. The
committee Of the National Associa.
tion, headed by William E. Shannon,
local realtor, Is composed Of Charles
) @. Edwards, president Of the Real
Estate Board Of New York: William
III. Ball. official Of the Philadelphia
Real Estate Board; Raymond T.
Cragin. past president Of the Cleve.
land Real Estate Board; Irving b
Hiett, OF Toledo, Ohio. past president
Of the National Association Of Real
Estate Boards: and John A. Petty
secretary Of the local board, acting
as secretary Of the committee.
After the conference with the
government officials, the COMMITTEES
held a session in the office of its
chairman and outlined tentative
plans whereby the various requests
Tor appraisals from the government
would be handled with facility and
promptness and the results of II.
deliberations will shortly be ISSUED
through the national association tC
each OF the member boards through
out the country urging complete co
operation in this work of the
Federal Real Estate Board.
GERT1ElHATE EDAAAEc