The Washington times., 1927-11-12
Y CLASS HEARS
PETTY TALK

The necessity OF proper organiza-
ton with all the departments CO.
operating under one head so that
they will each act as an aid to the
other, was outlined by John A.
Petty, Washington realtor. before
the regular Y. M. c. A. class in real
estate this week..
Taking first the sales department
Of real estate office which deals
with the actual marketing of homes.
Mr.. Petty stressed the necessity OF
competent and live sales force to.
gether with a regular backing OF
office detail so as to enhance eff.
cheney.
Such detail requires proper listing
Of salable property so that q sales
man can instantly tell whether ne
ls at liberty to handle a certain
business or property. Every prop.
erty should be properly indexed so
that full information Is always avail
able, thus giving the sales depart
ment the opportunity to handle q
complete transaction.
Touching upon the matter OF prop
erty management, the speaker
pointed out the various defects Of
this department, chiefly the neces.
sity of good judgment when the
agent is managing the property for
the owner.
The proper maintenance ana re.
pair Of the property and elimination
as far as possible OF the deprecia
ton was particularly referred to al
we'll as the proper maintenance sof
accounts ana Systematic and bust.
nesslike collection OF rents.
This department, the speaker
sdded. required particular skill and
wide knowledge Of property because
Of the necessity Of dealing with
various parties and bringing about
ultimate satisfaction to all concerned.
In the mortgage department. there
Is a necessity for knowledge which
comes only with practical experience
ard study Of financing. This ex.
perience IL not only necessary in
financing transactions, chiefly mat.
tiers Of mortgages. but IL needed in
appraisal matters, which in turn are
based largely on q knowledge Of n
city'a growth.
The mortgage department involves
mainly, sales Of mortgage notes to
investors. and this in itself Is a
highly specialized work requiring
competency and integrity.
The subdivision work usually off.
fers from other branches Of the OF.
flee by reason Of the fact that 1t Is
far more spectacular. The speaker
POINTED out that this work has
grown considerably in Washington
in the past few years because Of the
city's great development.
The building industry IL largely
one Of speculation. and must be con-
Quoted in q sane, businesslike man.
ner. requiring the employment OF
building experts and men OF expert.
| ence to give work the assurance OF
a success.
Most offices have insurance de.
partments In which agents act as
brokers for insurance firms.
In reviewing the work OF the OF.
flee. Mr.. Petty pointed out that the
rental departments act In a large
measure as feeders for the sales De.
partment and insurance depart
ments. by reason Of the intimate
contact with owners and tenants:
III AcIt1 AAEs Il CtSy NESAdA GU 1A91Ns
departments can be feeders for the |
other departments.
In speaking about personnel, he
stated that this Is q most important
question involving many wears in
which to build up an efficient. reli-
able force. certain Of profit and pub
lie service.
The general manager or chief en-
ecutive to which all department
managers must report ID the one
who must keep in touch with the
progress Of the firm. the advance or
retrogression Of various departments,
and one who must select the heads
thereof.
other matters upon which the
speaker touched were the necessity
If keeping proper records.
The speaker at the next 7. M. G.
A. class on Monday. November y,
will be J. #. M. Bowie. Of the II. l..
Rust Company. who will talk on
Renting, Leasing and Property
Management"