Evening star., 1933-08-26
REALTY BUSINESS
SOON TO COME IN
UNDERBLUEEAG[E
National Association Drafts
Code and Seeks to Enlist
Support.
PITTSBURGHER HEADS
SPECIAL COMMITTEE
Program Will Cover Maximum
Hours of Employment and
Minimum Wage.
BY VINCENT TUTCHING.

The Nations real estate business
taking in ownership and operation of
real estate, as we'll as the business
itself-soon will be under the blue
eagle of the National Recovery Ad-
ministration.
This has been assured following the
drafting of a proposed code by the
National Association of Real Estate
Boards at Chicago, in which it will
seek to enlist the support of other
groups affected.
The Board of Directors of the ma
tional realtor organization at meet
ing held during the past week voted
to name a special code committee to
see the program through.
According to the preliminary set-up,
the proposed code includes all real
estate interests and activities. 1t COW
ers the Substantial engagement as
principal, fiduciary, agent or council
lor in the sale or leasing of real estate,
renting and management of real estate,
brokerage of insurance connected with
the ownership and operation of real
estate, subdivision and development OF
real estate, including erection OF
dwellings thereon, making, negotiating
and servicing mortgages on real estate,
appraisal of real estate and abstract
ing and guaranteeing of title to real
estate
Committee Authorized.
The national association is represent
ed as feeling that such wide applica-
ton is the only basis upon which the
code may achieve its purposes, prevent
the destruction of capital assets, elm
mate unfair practices, increase spread
and sustain employment and restore
prosperity to all concerned.
In setting UP the proposed code, the
directors of the organization authorized
President William c. Miller of this city
10 appoint a special code committee
with full power to act. The committee
is authorized to make any changes
necessary in the tentative document as
adCpted. by the directors, to center
w.tl ether organizations O. with respect
to their joining in a general code COW
e-iag ell real estate, end to present
til, code to the National Recovery Ao-
r.n!stration either jointly with repre-
son.etives frcm other associations in
thu real estate field or directly in be-
half Of the association.
Personnel of Group.
The Code Committee chairman is
J. w. Cree, jr, of Pittsburgh Other
members include Hugh Potter, Hous-
ton. Tex. president-elect OF the asSo-
cietiol for the year 1884; Harry E.
Gilbert of Baltimore, j. c. Nichols OF
Kansas City, Mo, and ]. Soule water
field of Chicago. Delbert S. Wenzllck,
president of the Real Estate Analysis,
Inc, of St Louis. has been actlng aS
consultant TO the Code Committee
The code as it will be submitted to
the N. r. A. will embrace suggestions
from member boards of the ASSOCIATION
which developed after tentative eooe
was submitted to them last week.
Recommendations of the directors, Ex-
ecrtiye Committee and the nine clVl-
sions representing specialized heldS OF
real estate also will be taken into con-
sideratlon.
The draft will cover the matter OF
maximum hours of employment ana
minimum wages for employees in every
type of real estate employment. II
also contains a section which WOULD
outlaw as unfair certain practices gen
erally recognized as destructive to val
ues and detrimental to real estate ac-
tivity.
The board, in drafting its CODE states
It "has recognized that to obtain max
imum effectiveness from the important
provision of the recovery act permitting
the inclusion of clauses outlaWlng un-
fair practices, supplementary codes may
be needed
Supplementary Codes.
These supplementary codes, the board
saws, would be prepared to incorporate
the following:
|. Brokerage of real estate and OF
insurance connected with the owner
shin and operation CT real estate.
2. Real estate building and manage
ment
8. Making, negotiating and servicing
mortgages.
4. Land development and home
building
5. Farm brokerage and management.
6. Real estate appraising.
7. Abstracting and guaranteeing OF
title to real estate.
The code is worked out on the basis
of direct and specific reports on pres
ent business practices made by real
estate firms over the country. The in
formation was secured through a de-
tailed QUESTIONABLE sent out to the
membership of the association, being
the first time such information has
been brought together.
Data. secured cover the actual SAL
aries and wages now being paid to en-
ployes in "a different classes of occu-
pations, the approximate actual work
ing hours per week for each group,
the minimum and maximum weekly
wage paid to employees, including the
rental value of quarters furnished
them and the number Of present en-
ployes in each group.