Professional Documents
Culture Documents
RoBERT B. DUNLAP
S.tfet@!/ OaklM.l Rea1lt Boord
78 The Real,tuBk& Book of Cdwernie
The Exchange
Bg RoBTRTB. DUNLAP
CONTRO!'ERSIDS FAEQUDNT
Many exchanges cover property located in diffprent parts of the
or county. Confusionoften arises in suchtransactionsfor th€
that one side or the oth€r may not be conversantwith values.
I inquiry or valuations by real estat€ boards would obviat€
essconfusionand bitter argument.
Many brokers refuse io enter the exchange 6eld because of thc
floversy which seemsincident to it. An analysisleadsthe writel
believethat in most instancesargurnentarises becauseof misrep-
madeto the broker by the parties seekingto trade prop-
. The broker's statementsare merely the representationsof the
and he is usLalb guilfless of altempling to boost thp in-
of an apartment houseor the earning power of a ranch. I{e
the speechas it was pronouncedto him," often "trippingly on
tongue,".perhapspainting a picture that the facts will not bear
'but the r€presentationsare made honestly and in good Jaith.
many traders take as gospeltruth the facts as por-
by the broker and hold him arcountablefor any over-state-
'trcok"
applying to him the ter1lr when as an act of self-protec-
he attempts to draw a contract that will absolvehim from the
efrectof any statementshe may makeon behalf of the principals.
avoid just such unple^santnessand notoriety the exchange is taboo
many offices.
It is to be rgrptted lhat tha pxchanseis a favored fiFld for Lhc
pulous real estate dealer. The very complexity of the subject
l s t o t h i s c l a s . ,f o r l h e r e a r p . u m a n \ ' w r ) s I o c o n f u s et h r l l h e
niti€s seem unlimited. Through the manipulatiou of loans,
80 Tke Eeatrt!BLueBooL af Cahforni4