Evening Star Newspaper, February 9, 1929, Page 20

20 REATL THLSOF ETHCS N REALTY FELD John A. Petty Enumerates Phases of Ct_wde in Talk to Y. M. C. A. Class. Ethics when applled to business is merely “the practice of common honesty and courtesy,” according to John A. Petty, who lined to the Y. M, C. A. real estate class this week the de- velopment of ethics in the real estate field. Enumerating phases of the code| :f ethics adopted y the National real practice involved a| serious responsibil- % ity, as the average| | layman purchasing| | home or a prop- Ak | erty for an invest- | ment usually isl o | quite unfamiliar | with real estate John A. Pettv. | Jaw and custom and therefore has no | definite appreciation of either his rights | or respo jes in connection there- with. This made it incumbent on the broker to be properly cquipped and qualified to adequately guide and pro-| test those who intrust their real estate transactions to him. One of the greatest difficuities in real | estate practice, Mr. Petty said, was the | misconception on the part of those who | enter the field without any previous ex- ferience or preparation, believing that | t was a comparatively simple process | to announce to the world that one had engaged in the real estate business and was ready to serve clients in the pur- chase, sale and financing of real estate. 1 Transaction Different. 3 On the face of things it seems a sim- | ple matter to sell a property which the owner is desirous of selling to a purs chaser who has concluded that he de- sires to buy. Yet, he said, underlying the sale of a piece of real estate are certain basic fundamental factors which make such a transaction radically dif- ferent than the purchase or sale of any other commodity. This difference, Mr. Petty said, is due to the fact that what one purchases is the intangible title or right to the use and ownership of the property, and this can only be accom- plished through the formality of exe- cuting and delivering a formal written instrument which must be handled in accordance with the laws and customs of the community and follow through a | very definite procedure. He said: “With the conveyance and transfer of real estate there are many vitally im- portant matters requiring the careful attention of one trained and competent in order to fully protect the rights of the contracting parties. It was for this reason that the development of a stand- ard code of ethics evolved in a perfectly natural and logical way to definitely set forth and express the responsibilities of brokers and their relations to their clients and the public. In addition to this phase of the realtors’ ethics, it has been possible to develop very definite rules which indicate the proper pro- cedure between brokers in respect to their joint efforts, resulting in a closer co-operation.” lllusfnlwd }h:nnfl pfiernamln‘ to list. ous rules of ice - ings, signs and commissions and other detailed operations involved in real es- tate vractice. “Through the means of these well de- fined rules it is possible for brokers in actual practice to meet the complex situations that sometimes arise with a clearer understanding of their rights and obligations to each other and is a distinct guide which easily differen- tiates between right and wrong con- duct,” he said. “In actual practice the public has greatly benefited by the publicity and development of ethical standards by the real estate men of the country, and the co-operation that has been the out- growth of such development has in- creased the efficiency of real estate service and made possible broader lines of activity.” Dr. Krause Heads Trade Board. Special Dispatch to The Star. Association of Real : ¢ | 4 | | ! | ESTATE. BUILDERS TO HOLD COST CONFERENCE Representatives of practically every element in the construction industry have been invited to meet in Youngs- town, Ohio, next week for a conference to discuss a proposed general survey of the construction industry to develop reliable information on the service ren- dered to the builder and the charges made against him. ‘What service does the local material dealer perform and what does he charge for that service? What is the contribu- tion of the contractor, the mortgage investor, the architect, skilled and com- mon labor, and what proportion of the cost of the building goes to each as his FLOORS AND BUFF), PETERSBURG, W. Va. February 9. ~—Dr. A. E. Krause was elected presi dent of the Petersburg Board of Trade for the ensuing year, and W. G. Slough, secretary-treasurer. % % % % W. STOKES SAMMONS Proprietor 830 13th St. N.W. ‘'THE EVENING STAR. WASHINGTON, DEN 70-6%XN compensation for service, and, finally, is the charge a fair one? It is expected the Youngstown con= ference, initiated by the National Asso- ciation of Builders' Exchanges, will map out a program for such a survey and agree on an agency to conduct it and inform the public of the results. The question as to whether the home builder or home buyer gets an honest value from the construction industry and the realtor will be presented. | The general scope and problem of the such a survey will be presented to ‘Youngstown conference by E. J. Brun- ner, well known authority on construc- tion economics. Mr. Brunner formerly was_editor of the American Contractor of Chicago and now is secretary of the Builders and Traders’ Exchange of Detroit. The National Real Estate Board, the American Institute of Steel Construc- tion, National Common Brick Manufac- turers’ Association, American Institute of Architects, the Associated General BEAUTIFUL 20 FT. WIDE, SIX LARGE ROOMS, REAL OPEN FIREPLACE, BREAKFAST AND SLEEPING PORCHES, CONCRETE FRONT PORCH, CAFRITZ WARDROBE CLOSETS, PAR- QUET FLOORS, %-INCH OAK HARDWOOD TRIM THROUGHOUT, ELABO- RATE KITCHEN DRESSERS, KELVINATOR ELEC- TRIC REFRIGERATOR, COLORED ONE.PIECE SINK (BUFF), ARTISTIC TWO-COLORED BATH (GREEN— GARAGE AND PAVED ALLEY EMERSON STREET BUS—14th STREET CAR—GEORGIA AVE- NUE CAR—EAST AT EMERSON STREET TO KANSAS AVENUE. Exhibit House 4925 KANSAS AVENUE v CAFRITZ *» Main 3324-3328 Can You Wash Your Shades Like This Without Ruining Them? If They Are Made of Du Pont’s Tontine — You Can! S Greatly Reduced and new stone residence just west of Sixteenth Street Overlooking Rock Creek Park 1629 The Price at Which This Home Is Now Offered Makes It Absolutely Sales-Compelling A THOROUGHLY fascinating home, worthy of its charming rustic setting. Unique in design and interior arrangement, 10,5 85 SATURDAY, FEBRUARY 9, 1929.° REAL ESTATE. SECOND-FLOOR PLAN OF AHALT HOME Contractors and other national organi- zations have accepted the invitation of the National Association of Builders' Exchanges to send representatives to the Youngstown parley. 208 East Taylor Street Chevy Chase, Maryland 12,450 BUILDING OWNERS SEEK TAX CHECK Plans to Place Local Govern- ments on Modern Basis Are Being Studied. The tide of taxes continues to rise, with the result that the gains which have been made in scientific manage- ment of cffice buildings are being over- taken, according to the presidents of 37 local associations, federated in the National Association of Building Own- ers and Managers. The local associa- tion presidents, who met recently in Chicago, deemed the tax problem so vital they are considering plans for placing the business of local govern- ments on a business basis, ‘The plan which has the greatest ap- peal to the building owners and man- agers is the “Baltimore plan,” which was established in that city under the guidance of Willlem J. Casey, Balti- more banker, who, with the aid of other business leaders, prevailed upon the city administration to accept the counsel of engineers, accountants and Near Connecticut Avenue Circumstances permit us to offer this modern home of English architecture at a price below its actual value. The house is i solutely perfect condition, six delightful rooms and bath, built-in garage, attractive covered living porch, open fireplace in charming living room. Drive out Connecticut Avenue to Taylor Street (opposite Chevy Chase School for Girls), east to property, or phone Wis- consin 2875, M. & R. B. WARREN Realtors 3815 @®pton Street Devonshive Botons First Showing—A New English Brick Home With a Permanent Outlook Over a Private Park! Unusually large rooms—living room, 90'x16'—dining room, 1214'x16'—master bed- room, 16V4'x17'—with adjoining boudoir or den. The house consists of 8 fine sunny rooms, 92 tiled baths (both of which have a complete built-in tub with shower), a floored attic, and special features—the kind you don't expect to find in a residence so reasonably priced: Electric Refrigeration, inviting large open fireplace, especially fine hardwaod - floors, metal weather stripping and slate roof. ‘The garage opens on ‘a paved alley and the large lot on which it stands is 38x150 and is beau- tifully planted with many shade trees and fine shrubbery. One Half Square Off Wisconsin Avenue Open Sunday—10 A M. Uutil Bark SHANNON: & LUCHS 1435 K Street Main 2345 THAT'S THE FIRST PAYMENT it N START MODESTLY- IN A FEW. YEARS YOU CAN TRADE FORA LARGER HOME,BUT START/ BUY A COMFORTABLE HOME FROM WARDMAN At Fort Stevens By Investing Your Rent Money VERY one is semi-detached— constructed of brick—six light, airy rooms, large bath, built-in garage and many other attractive features. Over 500 already sold. Price Only $7,850 $350 Cash $55 Monthly ] office managers in organizing city de- | Lewis B. Ermeling, executive secretary |es being devoted to the internal partments with a degree of efficlency | of the association, will be a “laboratory | lems of operation of commercial which characterises modern business 1n- | convention,” with the principal address- _ings. stitutions, The building owners and managers’ - presidents revealed that throughout the | United States of every dollar paid in| rent, 16 and two-tenths cents is paid ] out in taxes, which represents a con- = - siderable increase in the past six years | @ Considerable time in the conference | was devoted to a discussion of plans for | the twenty-second annual convention to | be held for the first time outside of the | borders of the United States. The con- vention will be held June 10 to 14 in Montreal. The convention, according to { THIS IS THE HOME ||, YOU’LL WISH TO - || OWN il 1700 B St. N.E. (Open to 9 P.M.) Seven large, bright rooms (4 bedrooms), nicely arranged and attractively decorated. Substan- tially constructed of the best ma- terials. Every modern feature for your comfort and convenience. There is a garage. The neighborhood is convenient and restricted. Southern exposure, overlooking | | Eastern High School. | | Price Very Low and Very Easy Terms Inspect This Home Today! 'Robert W. Savage 717 Union Trust Building r "”.Mlin 6799 m nlrom, 17k and East Capitol drive 411 WILSON LANE Battery Park, Md. OPEN SUNDAY 10 to 6 Representative on Premiscs PRICE ONLY $10,500 This_beautiful detached colonial home contains 6 rooms' and bath, hot water heat, electric lights, open fireplace, maids’ room and toilet in cellar, sun parlor, garage to match house, lot 75x150, attractively landscaped. The owners have left the city permanently and have reduced price $2,000 for a quick sale. We can arrange terms. Drive out Wis. Ave. to Bank of Bethesda, turn left to 411 Wilson Lane. J. C. WEEDON CO. 1727 K St. N. W. Met. 3011 ‘ Creators of the Mode in Moderate-Priced Brick Houses SEE FOR YOURSELF Exhibit Home 510 MADISON STREET N.W. (Open to 9 P.M.) New Elegance in Papering and Fixtures—Ultra-Modern in Conveniences Outstanding Quality in Construction Price 58,950 NOTE THESE FEATURES Electric Refrigeration Brick Garages Large Pantry i Only T:r;‘- _!}qn-r'c- Fr{,m Wach- Exceptionally Deep Back Yards in 08 ington Railway Car Line " Doors H-nflvood Floors hg';' ”Sd'”l" Churches and Tiled Bath With Shower Numerous Floor Plugs 5 Pedestal Lavatory and Built-in Breakfast Porch Only Two Squares From Capital Tub A Fully Equipped Kitchen Traction Car Line 4 Bedrooms Cedar Closets Full -length Mirror CONVENIENT PAYMENT . PLAN This, ur ‘first exhibit home in the reighborhood. was opened for public inspection last Sunday. Ag; proving crowds thronged the house until closing. Three homes were sold. We invite you to see ti house this week end. There Is No Finer Home in Washington At Anywhere Near the Price The Thrift Building Company Union Trust Building Main 6799 or Any Broker If Your Heart Is Set on Having a Beautiful Bathroom in Your New Home These Are the Homes to See and Buy Longfellow Street Between 1st and 2nd Streets N.W. 113 Longfellow Street N.W. One of the highest elevations in Washington. Built of solid brick, reinforced concrete porches, double oak floors throughout; brick pantry, built-in ice box, instantaneous hot- water heater, double rear porches; garage and paved street. 8,150 robe Duid constructed of stone reinforced by hollow tile to give its beauty an enduring charm. Planned to please the most critical and pro- viding the environment and facilities for the proper entertain- ment of guests. It is the supreme combination of all that is fine in a real home of distinctive individuality. Open Today and Sunday Office at 8th and Tuckerman Sts. Open Until 9 P. M. TO GET THERE—Out Georgia Ave. to Tuckerman §t., then one square east to office, or telephone Georgis 394 and we will send a car for you. é WARDMAN 1437 K St. N.W. Main 3830 on terms like rent VAN BUREN ST. N.W. Drive out Sixteenth Street 20 Van Buren and go one half block west to home. 9. €. Douglass Co. Exclusive Agents 1621 K St. N.W. " Direction: Drive out Georgia Avenue to Longfellow Street and turn * east on Longfellow to 113 Longfellow Street. Two blocks from the Fourteenth Street car line. Investment Building National 1022 Metro. 5677&“ ;