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Show REAL ESTATE MEN. Another Meeting In Regard to An Exchange Ex-change A Constitution Is Presented Pre-sented and Discussed. ITS ADOPTION IS POSTPONED. The Form of Individual Contracts, and The Commissions to be Charged by Agents. Last evening another meeting of real estate men was held in tho chamber of commerce for tho purpose of taking further steps towards the organization of an exchange. 11. C. Lett presided, and Glonn Miller acted as secretary. The proposed constitution, a very lengthy document was rendt It was die-cussed die-cussed at some length, and when it became be-came evident that certain changes were desirable, the meeting adjourned to next Wednesday evening to further consider the matter. The proposed constitution divides property into two classes that offered by members in individual contract, and that listed by owners with the secretary of the exchange. A member offering property divides his commission with tho one making the sale. Listed properly prop-erly by owners may be sold by any member mem-ber of the exchnnge, such members receiving re-ceiving full commissions on such sales. The proposed constitution providos for membership, ollirere, elections, quorum, appropriations and so on, and tho. bylaws by-laws delines the various dutiosof officers, offi-cers, members and committees. POKM'-OK INIllVIDL'AIj CONTRACT. The contract to bo used by membersof the exchange in rocoiving property shall bo substantially in the following form tt-wit: I. ...of. ...havo this day placed with ... .as my sole agent for. . . .the following follow-ing described property in tho county of . . . .territory of Utah, to-wit: Lot in block addition to the city of Salt Lake. Improvements theroon ore.... To bo sold by him at a price not loss than. ...dollars, on the following term?, to-wit:... .said price and terms subjoct, howevor, to elmngo upon three days' written notice; said agent shall be en-titio en-titio to the regular exchange commission as soon as the contract of salo is executed, exe-cuted, and if said property is sold by me I agree to notify said agont immediately, and to pay said agent one-half regular exchange commission on such sale. I further agreo to furnish, when requested, a complete abstract of title and a gon-eral gon-eral warranty deed with the usual covenants, proporly exocuted ns per tho conditions of said sale. In caso of any failure on the part of tho purchaser to fully consumate said sale, said agent shall retain for his services one-half of tho deposit paid on the sale, unless the one-half of tho deposit shall amount to more than tho full regular exchange commifsion, in which caso tho surplus shall bo paid to me. And in consideration considera-tion of the above several agreements, tho said agrees to place the said property prop-erty on sale in his ollico, nnd to offer the same for sale in nny manner ho may desire de-sire conforming with tho rules of the Salt Lake real efitato exchange. Datod this.... day of A. D. 189.. Signed "2 I'OUM OF F.XCI1ANOF, CONTRACT. Tho form to bo usod by the socrotary of tho exchange for rocoiving proporty U be listed on 'change, shall be substantially substan-tially in tho following form, to-wit: I , of , have this day placed with tho Salt Lako Real Estate exchange as ni) solo ngent for the following described property, situated in tho county of , territory of Utah, to-wit: Lot , block , addition to the city of Salt Like; im.jr.j.'jmo i t thereon aro. . . . ; to bo eold by any member mem-ber of the said exchange at a prico not less than 8 , on the following terms, to-wit:. . . . Said prico and terms, however, how-ever, may bo changed by me upon three .lnvu vi-rittnri nrilirn Anv nmmliftr it said exchnngo selling said proporty Ehall bo entitled to the regular exchnngo commissions com-missions ns soon as tho contract of sale is executed, and if said prop erty is sold by mo, during dur-ing tho lifo of this contract, I horoby agreo to pay the secretary of the exchange, for tho use of said exchange, ono-half regular oxchango commissions. I father agree that upon tho salo ot the proporty by any niomber of the exchange, ex-change, lo furnish, whon requested, u complete abstract of titlo and a general warranty tleed with the usual covenants, properly executed as per the condition' ot tho Bale. In case ot any failure on the part of tho purchoBer to fully con Bumnto tho sale, laid ngent filial: retain for Ids services ono-half of tho deposits paid on tho sale, unloss the one-half of the said deposit amounts to more than full regular commissions, in which caso the surpluB shall be paid to mo. In consideration consid-eration ot tho several agreements the said exchange agrees to list said property prop-erty for salo on the books of tho exchnngo ex-chnngo nnd to place paid proporly with each memborof the exchange us agents for said property under the rules and regulations governing tho sale ot property prop-erty tluiB lifted. Dated tiiis dav of A. D. 189.. Signed commissions. Section 1 -On Sales of Ileal Estate, When in tho city limits, 8 per cent on the lirst $2.jC0 and 2'$' rcr centon the excess. When outside ot tho city plats, 5 per cent of tho whole amount. On sales ".mounting to 810,000 or over, coniniiB-moiib coniniiB-moiib may vary from thu nbovo schedule, on spocial ngreement. Sec, 2 On Exchange. Iloth owners are liable lo tho agents for commissions asset forth above, unless there is on agreement to tho contrary. Whon both properties are represented by tho same agent tho values of tho properties are to bo addod together, nnd tho commission calculated on the wholo amount, according accord-ing to the scale of sales as it it woro one sale. Seo. 3 On Loans. On loans for all sums up to STiOOO, 2 pur cent, and 1 per cent on the excess. Seo. i On Collecting Rents. Houses renting for S15 or less per month, 10 per out., except where the landlord has t tree or moro houses thnt would fad under this head then, subject to contract. con-tract. Houses renting for over $15 and upto?2r, 8 per cent, except ns nliove. Houses renting for S2j up io $100, 5 per cent, excett as nbovo. Houses renting for ovor $100, 3 per cent, except as above. Business blocks rs per agreement. Sec. 5 For rei t eg houses (when subsequent sub-sequent rent is not collected) Renting, commission 10 per cent on amount of first month, no houso renting for less than 83. See. 0 For negotiating lease for tix months or longer: - On t ue total rent to be receivod for tho term of lease, 5 per cent. Sec. 7 For examining Abstracts nnd Titles: -No title to real eFtote shall be examined by any member of this exchange ex-change for leps than 610. Sec. 8 - For Conveyancing: For drawing draw-ing deeds, releases, trust deeds, quitclaim quit-claim deeds, leases, ond ordimiry legal papers, net lees than S2 each. Sec. !)- For Valuing Property: Commissions Com-missions on valuations, one-half of 1 per cent. No opinion for lees than fo. Seo. 10 Tho aliovo nre minimum charges. |