The Washington times., 1929-09-21
PETTY. URGES
REAL ESTATE
LAW
BY JOHN A. PETTY
Executive Secretary

Washington Real Estate Board
Congress has been asked to enact
. real estate license law for the
District of Columbia. This law
which has been constructed with
great care In respect to its details
and principles offers a distinct and
helpfui service to the people OF
Washington and a definite measure
OF protection to legitimate business
without any additional tax burden
or interference with municipal
finance.
New legislation generally is de.
signed to meet an existing or ex.
pected need. 1t Is hoped the pro.
posed real estate brokers license
law will meet In a rather compre.
hensive manner a need that exists
and reaches a very large section OF
the citizenry OF the nations capital.
Legislation Is Needed
To understand the need for this
type of legislation, II is only neces.
sary to consider the seriousness and
Importance Of real estate practice
and the extent to which It affects
directly or indirectly every in.
dividual in the community. With
a realization of this fact and an ap.
preciation of the intricate and
technical phases of real estate prac.
tice 1t is apparent that those VINO
undertake the responsibilities and
obligations Of rendering real estate
service should possess the funja-
mentals OF good character and at
least degree of competency.
Yet the false impression that capi,
tai, ability and hard work are not
necessary as prerequisites to success
in the vocation Of real estate re-
suits in many entering this field
who would profit more by femain-
ing out. The apparent case OF
earning a living in the real estate
business without the investment of
capital attracts the INITIATED. Wis
ions of quick profits, mistaken ideas
of the requirements and the simple
procedure necessary to embark in
the real estate business brings to
this field Of endeavor many misfits
and failures from other walks of
life and, not infrequently, those of
questionable regulations.
Many Temptations
No business perhaps offers more
temptations to slip off the track Of
honor and straight dealing. In its
very nature the real estate business
is such that competency and honesty
are absolutely necessary to insure
the measure of protection the pub
lie has a right to expect and to
receive.
To the average layman, customs
and procedure in real estate prac-
tice are little known. Many phases
in the purchase, sale or renting of
real estate are involved and compli-
Gated. One seeking or requiring
service in such matters frequently
is entirely dependent on the ad-
vice and guidance of a real estate
man in protecting his rights and
safeguarding his interests. In ad-
dition to acquiring advantages, one
entering into real estate transac-
ton almost always assumes definite
obligations. Thus the matter is of
vital personal Importance and the
interested party Is entitled to at
least a reasonable measure of assur-
ance that those who engage to
advise and direct him have some
accountability for their acts.
Lawyers Held in Check
When one seeks the services of
an attorney at law he realizes the
right Of that attorney to practice
his profession is dependent on his
acts, which if improper. are re-
viewable by the bar and the courts.