NAR is seemingly so righteous with information Everywhere about how they want to protect the real estate consumer, how they are in Legislative Process to Help the Real Estate Consumer when this is simply NOT the way it Really is in the Real World of Real Estate.
If banks were able to be your "Realtor" - Replace YOUR Realtor - then you would not need a Mortgage Broker or a Realtor and you would cut out MOST all of the Fraud and Lies that happens in Real Estate. Yes Consumers lie to Each Other, but there is a small measure of protection there if the Realtor is NOT involved. With a Realtor involved they have insurance to make sure that YOU are Kept Down, as a consumer.
The E and O insurance has ONE purpose and that is to Protect the REALTOR from YOU, the Real Estate Consumer. To Protect the Realtors from your LIES and Frivolous Lawsuits. This is Plain Ol' Wrong, and to make matters worse, this E and O insurance "that is NOT intended to Protect the Real Estate Consumer" is actually Mandatory in Some States, as if the State Lawmakers Don't Know that this Insurance Does NOT protect the Consumer.
Clients - Sellers - Buyers HAVE real complaints against Realtors and are Really Being HURT and this Mandatory Insurance Makes SURE that the Real Estate Consumer Does Not Get Justice.
If Banks were in Real Estate then the Realtors E and O insurance would LOSE it's power to Keep the Real Estate Consumer DOWN and protect the Realtors Lies.
Banks already Know your Business, banks actually Loan the Money, Banks have something to lose in LYING .. Banks answer to Higher Regulations than ANY Realtor..
I Hate to Burst the REALTOR buble but the Dangerous Mix of Banking and Commerce already exists and Realtor are Right in the Middle of it Every Single Day.
Below is S0me Points the Realtors are trying to make at
http://www.realtor.org/banks_and_commerce.nsf/
Pages/banks_in_real_estate?OpenDocument
http://www.realtor.org/banks_and_commerce.nsf/
Pages/banks_in_real_estate?OpenDocument
NAR claims that "Real estate brokers and managers compete in the marketplace without using your tax dollars to prop up their businesses." This may be true to some degree, but they take a HUGE chunk of YOUR money that banks would, mostly like not take. More Money then any Tax Dollars they Speak of. I say this because as it is NOW - Quite often the Title Company and the Office Secretary DOES all the work and the REALTOR gets paid LOTS while they Take very Little. Get the Realtor out of the Real Estate Transaction and the Real Estate Consumer Wins, Period.
The Realtor Association is infamous for convinces their members that something is wrong - illegal or bad (such as the newletters we use to get about buyers rebates) - When Really it is Good for the Real Estate Consumer but BAD for the Realtor so it must be Stopped. Realtor Commissions and the Financial Damage they cause is way more then these supposed "tax dollars used to prop up their businesses."
Realtors say this about the Banks in Real Estate "Bank-affiliated agents would be pressured to focus on the needs of parent companies and shareholders." When in Truth Realtor, NAR has interest in Realtor.com and has their Corporate Hands in All kinds of Financial Windfalls based on the Illusions that Real Estate Consumers Believe which is that the Realtor is Needed in the Real Estate Transaction. The Truth is that Realtor Affiliation are WHAT hurts the Real Estate Consumer. This is a FACT, I have seen this stuff go on and there is NO end in site.
Along with this same point the Realtor, NAR claims this about the Realtors, "REALTORS® succeed or fail based on how well they serve the needs of customers." Again NOT True, Realtors Succeed because the E and O insurance, the Local Board of Realtors and the Franchise Protects them when they Lie and Break the Law. The Realtors are self governed, and Ethics and Standards of Practice MEAN nothing - they are in NO Way enforced. And the Customer, most of the time have no choice but to use a Realtor, if banks were in real estate and that was a choice along with a Realtor then the Consumer may choose the bank. (END the Realtor, NAR corning the Real Estate Market). NAR lobby's and uses part of their billions to fight for and create laws that keep the market cornered and KEEP consumers having to use them and keep real estate agents that want to "succeed" having to Join Them. They use YOUR mine to fight in Congress to KEEP you Down.
The Only real protection the Real Estate Consumer has is Knowledge. www.SavvyBroker.com
The National Association of Realtors thinks that the Consumer Should Care About all this and STOP the Banks from Being in Real Estate. But this is Really Just Slide of Hand, to Make Sure that you Don't Know that the REALTORS are the Ones WHO the CONSUMERS truly NEED Protection from. As a Real Estate Broker Own Who Quit NAR because of the lack of consumer protection I tell you the Truth When I say that NAR is NOT out to Protect the Real Estate Consumer, so to pretend they are to keeping banks out of real estate is Truly a Disgrace.
NAR and Legislation claiming the "Dangerous of Mixing Banking and Commerce" and the Current Legislation that NAR proposes is Not In Your Best Interest DO Not Believe the Association of Realtor when they Say they Want Banks Kept Out of Real Estate to Protect You, the Real Estate Consumer. This is a Bold Faced, Flat Out, Blatant LIE.
NAR Claims this, "There are currently 1.3 million REALTORS® in the U.S who specialize in serving their local communities and economies—not in draining money out of them and sending it to Wall Street." NOT True, the Realtor Job is to Drain Your Money and Offer No protection for you in the Mean Time, Wall Street - thats where your Realtor has Invested Your Money. The Realtors say this about banks, "Large banking conglomerates with federal backing could displace smaller real estate agencies, creating fewer choices for consumers." Large Corporations Like Apollo Management (Cendant) who own Relocation Companies, Rental Car Companies, Travel Companies, Gaming Companies - Part of Realtor.com and affiliated sites and Coldwell Banker - ERA - Sotheby's - and Century 21 .. Talk about "Conglomerates" - it seems to me that everything the National Association of Realtors is accusing Banks of Doing or Will Do that is Bad for the Consumer is WHAT the Realtors are Doing to the Consumer - Have been doing to the real estate consumer and will continue to do to the real estate consumer.
Talk about "fewer choices" the Realtor, NAR and the local boards Squeeze OUT those who try and market the for sale by owner, the Realtors LIE to Sellers about where it is best to market their real estate online (so they can keep all the business- all the Internet Traffic). The Top Franchise are Owned by the Same Company - No Real Choice There. Real Estate Agents have to Be Realtors if their Broker Owner is - so No Choice There. the MLS database built buy your money - your equity - and paid for by your commissions - your paycheck to the Realtor, well they own this data base and you can't get in unless you are a member - no choice there.
The Realtors are THUGS, are UnStoppable, too much money - too much political power and YOU Lose.
When the Chips are Down the Realtor, and the local association of Realtors DOES not have your back, they turn their back on you and let you fight in the courts No Matter the Cost, so Why Use a Realtor, Why NOT use a Real Estate Attorney in the First Place ( but remember don't fully trust them with your families life and assets either... find out more...)
On that Same Page Check out this OutRageous SHOCKING Comparison .. The Realtors, NAR says this about the banks and they say it is bad... "The real estate industry would be subject to stringent federal regulation by the Federal Reserve, the Treasury Department, and the Federal Trade Commission. This could involve privacy regulations, financial solvency, reporting, and examination requirements." There NEEDS to be MORE regulations in the Real Estate Industry.. the way it is now the Realtors are running amuk on your dime and they are telling lies that they are not held accountable for. Nobody is watching, Realtors are the Hand in Your Cookie Jar. No One is policing the Real Estate industry though NAR pretends they are .. so what is it that NAR says is better about them in this situation, well here it is "Real estate practitioners are licensed and regulated at the state level. Additionally, members of the NATIONAL ASSOCIATION OF REALTORS® pledge to conduct their businesses according to a strict code of ethics." Oh I See, now as a real estate consumer I should feel better? Here's the Truth folks, the Regulation at the State Level is controled by the Realtor Association, they have the Big Bucks and they run the show. And if you believe that a "Pledge" or a "Strict Code of Ethics" is better than "stringent federal regulation by the Federal Reserve, the Treasury Department, and the Federal Trade Commission. This could involve privacy regulations, financial solvency, reporting, and examination requirements." Then I have a Bridge To Show You...
There is No Way, No How that Realtors are Held to any Juvenile Pledge or Schoolyard Code of Ethics, these flimsy little playground rules are broken every single day and there is NOTHING than is Done About it.
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NAR Says, "If banks were allowed to engage in real estate activities, it would create anti-competitive and anti-consumer concentrations of power within the financial services sector." Oh My Goodness, Shocking - Funny - Could this Be a Joke.. NOPE this is right off the Realtor.org Website. The National Association of Realtors is Strongly Protecting Their Turf and They NEED your Business To Do It. In this they say " If Banks were allowed..." ok well, here is the Deal, the Realtors, NAR is already "Allowed" to participate in Anti-Consumer and Anti-Competitive "Concentrations" - this is the EVERY day World of the Realtor... And they don't want banks in the Biz.. Cuz .. they may lose some of their action. Seems to Me Like a Turf War, and Believe Me, it is Not For Consumer Protection.
******
NAR says, "Why should consumers care? Consumers-especially first-time home buyers-may experience adverse effects if banks are allowed to become real estate brokers and managers. Bank employees will not have the same fiduciary relationship with consumers that independent real estate professionals have." The Real Deal is - yes with banks this "may" happen as those Consumer Protecting Realtors Suggest, However When you Use a Realtor in your "First Time Home Buyer" Real Estate Transaction YOU will FOR SURE experience "adverse effects" if you involve - use a Realtor in Your Real Estate Transaction. Another "Real Deal" here is the Realtor has NO Real "fiduciary relationship" with anyone, it is a free for all and the Realtor is Out for the Realtor - Plain and Simple.
NAR says, "Why should consumers care? Consumers-especially first-time home buyers-may experience adverse effects if banks are allowed to become real estate brokers and managers. Bank employees will not have the same fiduciary relationship with consumers that independent real estate professionals have." The Real Deal is - yes with banks this "may" happen as those Consumer Protecting Realtors Suggest, However When you Use a Realtor in your "First Time Home Buyer" Real Estate Transaction YOU will FOR SURE experience "adverse effects" if you involve - use a Realtor in Your Real Estate Transaction. Another "Real Deal" here is the Realtor has NO Real "fiduciary relationship" with anyone, it is a free for all and the Realtor is Out for the Realtor - Plain and Simple.
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NAR Says, "The Goal of an Independent Broker/Agent is to:
Match consumers with the best housing solution. Nearly all real estate professionals are self-employed independent contractors who rely on reputation for business referrals. ( and that Realtors) Work with the customer to make sure the real estate transaction is a positive experience and the dream of homeownership is not tarnished." The Truth is that When you the Real Estate Buyer goes into your local Realtor Franchise / Independent Office, the Realtor shows you what is in the MLS or listed by the Franchise, they DO NOT look up other options online or check the local FSBO market and there is No Way that Realtors as a Rule "Match Consumers with the Best Housing Solution" - Realtors match the "Consumer" with the home that best works for the Realtor and in No way will give you all option for you to buy.
Match consumers with the best housing solution. Nearly all real estate professionals are self-employed independent contractors who rely on reputation for business referrals. ( and that Realtors) Work with the customer to make sure the real estate transaction is a positive experience and the dream of homeownership is not tarnished." The Truth is that When you the Real Estate Buyer goes into your local Realtor Franchise / Independent Office, the Realtor shows you what is in the MLS or listed by the Franchise, they DO NOT look up other options online or check the local FSBO market and there is No Way that Realtors as a Rule "Match Consumers with the Best Housing Solution" - Realtors match the "Consumer" with the home that best works for the Realtor and in No way will give you all option for you to buy.
Realtors DO not make sure that the dream of home ownership is Not Tarnished, What a Joke that is. And Realtors Do Not make Your Positive Experience their Goal. This Stuff is Simply Page Filler and an Illusion .. it is NOT True.
If Your Congressman, Senator or People in Power in Your Area
Are Siding with the Realtor, the National Association of Realtor then there is a Reason and I Guarantee that this Reason is Not Because Choosing NAR and their Jaded Point of View is In Your Best interest as a Real Estate Consumer Because it is NOT.
Are Siding with the Realtor, the National Association of Realtor then there is a Reason and I Guarantee that this Reason is Not Because Choosing NAR and their Jaded Point of View is In Your Best interest as a Real Estate Consumer Because it is NOT.
Instead of FIGHTING to Separate Banking and Commerce We SHOULD be Fighting to Separate REALTORS, NAR members and their greedy - forced - franchise FROM the Real Estate Transaction. Don't Use a Realtor.. Problem Solved.
Crystal L. Cox
www.SavvyBroker.com
www.SavvyBroker.com
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