SAN FRANCISCO REAL ESTATE BOARD YEAR BOOK, 1929 BRIEF HISTORY of the San Francisco Real Estate Board On February 16, 1905, a group of 35 of San Francisco's leading brokers met in the assembly room of the Chamber of Commerce and organized the San Francisco Real Estate Board. They adopted a Constitution and By-Laws and elected the late Josiah R. Howell, the first President. The members of the first Board of Directors were J. R. Howell, S. G. Buckbee, J. R. Harmes, F. E. Magee, David Rich, Geo. D. Toy, C. M. Wooster, E. L. Hoag and H. P. Umblsen. These leaders met on that day with a firm determination to find a way, if possible, to correct a chaotic condition in the local real estate business. There was no established rate for selling real estate—no leasing rate nor any uniform schedule for collections. Brokers in competition with their fellow brokers would cut commissions to practically nothing. This naturally engendered ill feeling, and an utter failure of cooperation among the leaders in the business. Three main problems confronted this small group of leaders. First, to establish a uniform schedule of commissions and charges; second, to establish a Code of Ethics; and third, to provide for a tribunal with powers of enforcement of both. How well they succeeded is well known to all Board Members. The development of a suitable rate has taken years of accomplishment; but, step by step, the rate has be- come established until today it is recognized and accepted by property owners through- out the city. The Code of Ethics of the National Association is the Code of the Board and it is seldom that we hear of its violation. The third problem was solved in the creation of a trial court in the Board itself, before which disputes and misunderstandings between members may be heard. The success of this arm of the organization is evidenced by the fact that never in the history of the Board has a member failed to abide by the findings of the Arbitration and Grievance Committee. The Constitution adopted in 1905 has proven the wisdom and foresight of its founders. It has met the emergencies which have arisen in the experience of years. Few amend- ments have been made and those to meet the expansion and development of the organ- ization. Two major purposes of the Real Estate Board were set forth in the Constitution. They were: first, to promote, foster and protect the interests of the broker and, second, (recognizing the common interest of the broker and his client, the property owner), the protection of the interest of the property owner and tax payer. The Board has always been on the alert in the interest of the tax payer. Many things have been accomplished through the initiative of the Real Estate Board. It was this organization that raised the first ten thousand dollars and engaged the New York Bureau of Governmental Research, for the purpose of making a survey of our San Francisco municipal government. It was based upon our belief that the tax payers should receive one dollar's worth of labor or one dollar's worth of material for every dollar expended in taxes. The San Francisco Bureau of Governmental Research is the direct result of our efforts and the establishment of a budget system. Californian's, Inc. is also a child of the Real Estate Board for the idea was developed by a committee of this Board, and the first thirty thousand dollars collected from the members of this organization. Matters of State and Local Legislation of interest to property owners have always had the active interest of the Board. Proposed Bond issues have been actively sup- ported or opposed as in the judgment of the Board, the best interest of the tax payer demanded. The stand of the San Francisco Real Estate Board has been a determining factor in the solution of many of California's difficult problems.