Ronald C. Lee

Importance of Exact Information - List of Owners - List of Properties - New York System - Possible Purchasers and Tenants - Keeping Track of Mortgages - Appraisal Records

The real estate broker, to justify his existence, must have knowledge - knowledge of how to find buyers and sellers in the greatest quantity and quality, and a knowledge of values and conditions that will, with the least labor, match buyers and sellers. On this hangs all the law and profit in the management of a real estate office.

In what is known as the Metropolitan District, say within a radius of twenty-five miles from the City Hall, there are something like a million parcels of property held by a half million owners, and leased to five million tenants, and carrying half its value in mortgages. Each of these parcels, mortgages, leases, year after year means commissions to the metropolitan real estate broker. No other business or community of business men is the means of handling such an enormous amount of money.