Evening star., 1924-06-05
5000 REALTORS HEAR
PRAISE BY COOLIDGE
President Addresses Delegates to
Convention From White House
Portico Steps.
PROFIT IS RATED SECONDARY
Deals Must Give Mutual Advan.
tage, Says Chief Executive.

In an address today TO the more
than 1900 persons attending the con-
vention of the National Association
Of Real Es,ate Boards, President
Coolidge said that their. is one Of
the biggest ansi most important de-
partments of activity in the nation
and that no other business group con-
tributes more effort to establishing
full appreciation OF the great present
and future of our country
The Executive then called the at
tention Of the large gathering to the
idea which, he said, has been planted
throughout the structure of Ameri-
can activities, that no business is
quite justified il it's sole aim is profit
There must be mutually of ad-
vantage" President Coolidge added.
reaching To both sides in every
truly successful business operation"
Guests at White House.
The realtors and members of their
families accompanying them were as
sembled in the rear grounds of the
"hite House is they listened to the
Chief Executive of the nation address
them from the steps of'the south por-
tico of the White House.
The Presidents words were in the
form of warm and friendly greet
ing. After paying high tribute to
thoSe engaged in the real estate busi-
ness. Mr.. Coolidge said: You are
purveyors of cheer. confidence and
literal sense. the sellers of Amer
ica. You have sold it so well that il
is recognized everywhere as the best
buy in the world
The address of the President in full
fellows:
Profit Not Sole Aim,
1T is out of an appreciation of the
marked Importance of this convention
that l have come here to extend on
behalf of the national government the
welcome which is your due. 1t seems
to me that this gathering is typical
of the sort of unifying effort that is
most calculated to improve the meth
DDS of business and strengthen public
confidence in its processes. There can
be no doubt that the widespread
movement in recent decades to bring
business leaders together for common
and frank counsel has been paral-
leled by great Improvement in bust
ness and professional ethics The
idea has been planted throughout the
structure of American activities that
no business is quite justified if its
sole aim is profit to whoever con-
ducts il.
There must be mutually OF ad-
vantage. reaching to both sides in
every truly successful business opera
tion. The deal in which one side gets
the best of it is not good business.
1t does not promote more business or
produce confidence in business gem
orally. Formerly there was curious
notion that if one side in a business
transaction profited. the other must
necessarily lose. If that were true,
all business would be under suspicion
and wise people would stand aloof
from it. The truth is that when two
which each exchanges something
which he needs less for something he.
needs more, both sides are benefited.
That is the ideal basis of all trade
and commerce, and it is the real basis
of most transactions.
Must Maintain Standard.
1T Is particularly the opportunity
and the duty of real estate men to
maintain such a standard. AS a rule
their service is that of middlemen,
bringing buyer and seller together.
They will in the long run prosper if
they are guided by the aim to render
real service to both sides. The
transa ction whose sole motive is the
brokerage fee, whether or not it is
earned by genuinely benefiting the
principals, is not commendable.
1.-THE real estate business makes
large demands on the skill, inteHi-
gence and abilities of those who sue
ceed in it. The good reaftor must
make a success big enough to divide
by three, giving buyer, seller and
each share of the
benefit This is the ideal of men who
are actuated by the ethical con-
siderations which your organization.
and seeks to propagate
1t makes your work a most import
ant one. Your national and local
are broadcasting centers
from which the best aims and busi-
ness ideals are circulated and en-
couraged.
Yours is one of the biggest, most
important departments of activity in
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