The management of improved real property is a branch of the agency division of the real estate business. It engages the attention of a number of real estate men, some of whom have built up organizations of marked efficiency. These organizations offer to the owner the combined knowledge, ability and experience of all their members.

Spear and Company of New York City, make the following statement in an issue of their Bulletin:

"We believe that a modern real estate organization should be made up of men who combine integrity and good judgment with a knowledge of real estate conditions.

"We believe that only through the constant operation of these qualities can successful management be assured.

"We believe that the management of property entrusted to us entails serious obligations, and that the fulfillment of these obligations comes first and our profit last."