For Congress to permit the continued looting of the electric-light looters to accumulate surplus swag of $3,000,000 per year in the Nation's Capital is unthinkable since crooked deals in power steals got adverse votes in overwhelming numbers last November against this particular line of inside rackets through Government channels. The stopping of this steal will be fair notice to all racketeers that an era of honesty in government and business is succeeding 10 years of national degeneracy and degradation, signalized by the Governmentencouraged raids of the power thieves and allied vandals. To halt further fraud Congress should demand for the financial waifs and vassals of wanton, uncurbed predatory power the spending of whatever money may be necessary in order to stop this continuous confiscation of $8,000 daily as a beginning for a clean-up of hundreds and thousands of millions of dollars all over the country. (Whereupon, at 5 o'clock p. m., the committee adjourned.)

HEARING

BEFORE A

SUBCOMMITTEE OF THE

COMMITTEE ON THE DISTRICT OF COLUMBIA UNITED STATES SENATE

SEVENTY-FIRST CONGRESS

SECOND SESSION

ON

S. 3490

A BILL TO DEFINE, REGULATE, AND LICENSE REAL-ESTATE
BROKERS AND SALESMEN; TO CREATE A REAL-ESTATE
COMMISSION IN THE DISTRICT OF COLUMBIA
AND FOR OTHER PURPOSES

APRIL 19, 1930

Printed for the use of the Committee on the District of Columbia

COMMITTEE ON THE DISTRICT OF COLUMBIA

ARTHUR CAPPER, Kansas, Chairman

WILLIAM H. SOUDERS, Clerk
JAMES RING, Assistant Clerk

REGULATING AND LICENSING REAL-ESTATE BROKERS

SATURDAY, APRIL 19, 1930

UNITED STATES SENATE,

SUBCOMMITTEE OF THE COMMITTEE ON THE

DISTRICT OF COLUMBIA,
Washington, D. C.

The subcommittee met, pursuant to call, at 10 o'clock a. m., in the committee room, Capitol, Senator John J. Blaine, chairman, presiding. The subcommittee had under consideration S. 3490, which is here printed in full, as follows:

[S. 3490, Seventy-first Congress, second session]

A BILL To define, regulate, and license real-estate brokers and real-estate salesmen; to create a real estate commission in the District of Columbia; to protect the public against fraud in real-estate transactions, and for other purposes

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

ENACTMENT AND PROHIBITION CLAUSE

SECTION 1. That on and after sixty days from the date of approval of this act it shall be unlawful for any person, firm, partnership, copartnership, association, or corporation to act as a real-estate broker or real-estate salesman, or to advertise or assume to act as such, without a license issued by the real estate commission of the District of Columbia.

DEFINITIONS AND EXCEPTIONS

SEC. 2. Whenever used in this article "real-estate broker" means any person, firm, association, partnership, or corporation, who, for another and for a fee, commission, or other valuable consideration, lists for sale, sells, exchanges, buys, rents, or leases, or offers or attempts to negotiate a sale, exchange, purchase, lease, or rental of an estate or interest in real estate, or collects or offers or attempts to collect rent or income for the use of real estate, or negotiates or offers or attempts to negotiate, a loan secured or to be secured by a mortgage, deed of trust, or other encumbrance upon or transfer of real estate: Provided, however, That this definition shall not apply to the sale of space for advertising of real estate in any newspaper, magazine, or other publication.

"Real-estate salesman" means a person employed by a licensed real-estate broker to list for sale, sell, or offer for sale, to buy or offer to buy, or to negotiate the purchase or sale, or exchange of real estate, or to negotiate a loan on real estate, or to lease or rent or offer to lease, rent, or place for rent, any real estate, or collect or offer or attempt to collect rent or income for the use of real estate for or in behalf of such real-estate broker.

One act for a compensation or valuable consideration of buying or selling real estate for or of another, or offering for another to buy, sell, or exchange real estate, or leasing, renting, or offering to lease or rent real estate, except as herein specifically excepted, shall constitute the person, firm, partnership, copartnership, association, or corporation performing, or offering or attempting to perform any of the acts enumerated herein, a real-estate broker or a real-estate salesman within the meaning of this act.

The provisions of this act shall not apply to receivers, referees, administrators, executors, guardians, or other persons appointed or acting under the judgment or order of any court; or public officers while performing their official duty, or attorneys at law in the ordinary practice of their profession.