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Do Bankers, Bubble, Discounters, & Justice Department Cloud Real Estate Industry?
Once relegated to the classified advertising section of the local paper, real estate has jumped to front-page headlines and covers of national magazines. Leaders in the real estate industry are weary from interview requests for their perspectives on market conditions, the ongoing battle with the banking industry looking for entry into residential real estate brokerage, online brokerage commission discounters and investigations into their business practices from the U.S. Department of Justice. The headlines threaten a correction in real estate prices, protectionist real estate trade associations, traditional versus Internet brokerage business models and a consumers right to a competitive marketplace for real estate services. Be aware of the issues and determine if they relate to your real estate investment goals. Banking. Two of the strongest industry trade associations, banking and real estate, have been waging a battle over the right of banks to offer real estate brokerage to consumers in addition to other financial instruments such as mortgages, securities and insurance which they currently market to customers. The National Association of Realtors® testified at hearings with the House of Representatives Committee on Financial Services that allowing banks into real estate will cost consumers more through increased real estate service fees. Bubble talk. It's a fact that talk of a real estate bubble has the attention of consumers. Hitwire an online monitoring service reported that searches for "real estate bubble" and "housing bubble" peaked at their highest level in the last twelve months for the week ending May 28, 2005. The expanded coverage and dialogue of real estate market practices and markets is an overdue educational resource for individual real estate investors. Discount commissions and the Internet. Discounted commissions offered by limited-service brokerages which often feature a strong Internet presence, helped this real estate business model to flourish. At issue is a discount broker using the listing information originated by a competing broker on their website. The broker who originates the listing information feels that they own the information and can "opt-out" of sharing it with competitors. Meanwhile the discount broker complains that being denied the information doesn't serve the consumer and feels it's anti-competitive. The discount brokers came into being by recognizing that some real estate consumers want alternatives to paying full-service commissions. Discount brokers offer limited services in exchange for lower commissions. State laws in some locales have been updated to implement minimum service requirements for consumers by discount brokerages at the request of state real estate trade associations. The U.S. Department of Justice. The adoption and possible consumer implications of limited-service requirements for discount brokerages in some states triggered an investigation by the Department of Justice. At issue is the claim by some discount brokers that these new limited service laws or policies are anti-competitive and thus violate federal anti-trust laws. The discount brokers allege these adopted or proposed policies at the national and state levels aim to restrict Internet competition for real estate consumers. Ultimately real estate consumers and public opinion will decide if these issues cloud their perceptions of the residential real estate industry. In addition lawmakers and government officials will weigh in with their opinions of the future of real estate. Mark Nash is a residential real estate author and broker in Chicago. He has contributed his real estate insight to CBS The Early Show, Bloomberg TV, Dow Jones Marketwatch, and Universal Press Syndicate. Mr. Nash specializes in helping consumers succeed in real estate. His latest book "1001 Tips for Buying and Selling a Home" is available in bookstores nationwide or at Amazon.com
MORE RESOURCES: $900000 Homes in Rome The New York Times Exclusive: S.F. to take over former big tech headquarters building in Mid-Market San Francisco Chronicle Welcome to Real Estate Friday! theberkshireedge.com Gisele Bündchen's Houses: A Peek Inside the Supermodel's Real Estate Portfolio Architectural Digest Why S&P Cut Outlook for Five US Regional Banks With Heavy Commercial Real Estate Exposure Investopedia A Real Estate Reporter Explains a Settlement That Will Change Housing The New York Times Australia’s Gold Coast Is Primed for a Long-Term Real Estate Boom—and There’s Still Time for Buyers to Get In Mansion Global REAL ESTATE | Auto Safety Center adds third location washingtoncountyinsider.com Breaking Barriers: DePaul's Department of Finance & Real Estate holding first DEI Conference – REJournals REjournals.com San Antonio real estate: Tony Parker's Hill Country mansion San Antonio Express-News The Pipeline: Commercial real estate roundup for 3.29.24 RichmondBizSense Refined Real Estate: 1937 Colonial Broadmoor home lists for $2,595,000 seattlerefined.com Real estate transfers in Adams County from March 18-22, 2024 – Muddy River News - Muddy River News These sectors dominated Baltimore-area real estate deals in 2023 - Baltimore Business Journal The Business Journals REAL ESTATE | What would you like to see at the old Kettle Moraine Bowl? washingtoncountyinsider.com REAL ESTATE | Spring Storewide Sale underway at General Store Antique Mall in Kewaskum, WI washingtoncountyinsider.com Residential real estate market sees modest price and inventory increases so far this year Montrose Daily Press RI real estate transactions: What homes sold, for how much and to whom The Providence Journal Search the latest Macon County real estate transfers Herald & Review FBI is investigating Eastside real estate firm iCap, lawyers say The Seattle Times Changes coming to real estate commissions. What does it mean? Wednesday Journal TU launches first in state Center for Real Estate Studies 2 News Oklahoma KJRH Tulsa Wylie High School offers new real estate class KTAB - BigCountryHomepage.com Inked: Recent LI real estate deals Long Island Business News Renting versus buying a home: Has the math changed for today's Bay Area real estate market? San Francisco Chronicle MAKING YOUR REAL ESTATE DREAMS A REALITY | Real Estate- Sale/Rent coastalbreezenews.com Current Real Estate Roundup - March 28, 2024 Nantucket Current The future of real estate starts now CapeGazette.com This new digital real estate platform wants to solve Denver’s unrealistic listing prices The Denver Post What you need to know about the NAR real estate commission lawsuit? Sarasota Herald-Tribune How New Rules for Real Estate Commissions Could Affect First-Time Buyers The New York Times Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic Brave New Coin Insights Cervera Real Estate opens Palm Beach, West Palm Beach offices South Florida Agent Magazine See How Commercial Real Estate Deals Are Being Cut As Debts Mount Business Insider Cincinnati real estate market: Realtors talk about spring season The Cincinnati Enquirer Kevin O'Leary Says a Coming Real Estate Collapse Will Lead to 'Chaos' — Here's What You Need To Know Yahoo Finance Longtime Minneapolis real estate company to bring industrial buildings to Colorado Springs' east side Colorado Springs Gazette Real estate giant Compass to pay $57.5M to settle clams it overcharged US home sellers New York Post Pummeled Blackstone Real Estate Unit Seems Poised for a Revival | Chief Investment Officer Chief Investment Officer Christie's International Real Estate The Laurel Magazine of Highlands NC and Cashiers NC Stopping Boston's 'doom loop' means it must face its tax woes The Boston Globe Heiwa Real Estate REIT : Notice Concerning Change in Name of Asset under Management Marketscreener.com Real Estate Select Sector SPDR Fund Sees Unusually Large Options Volume (NYSEARCA:XLRE) Defense World Claremont Hotel bought by Ohana Real Estate from Fairmont Hotel and Richard Blum - San Francisco Business Times San Francisco Business Times Top-selling residential real estate team opens Petaluma office North Bay Business Journal The Office Market Is in Turmoil. So Why Are Rents More Expensive? The Wall Street Journal Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) Short Interest Up 352.0% in March Defense World The longtime Hamptons home of a late billionaire real estate developer now comes $25M cheaper New York Post Squatters 'claim everything to be theirs,' real estate agent says WPTV News Channel 5 West Palm Opinion | The Nature of the Real-Estate Business The Wall Street Journal Cape Girardeau voters to decide real estate, property tax levy for police, firefighter salaries KBSI Fox 23 Cape Girardeau News | Paducah News Suspect in $200K Gwinnett real estate scam arrested The Atlanta Journal Constitution Neuberger Berman Real Estate Securities Income Fund (NYSEAMERICAN:NRO) Share Price Crosses Above 50 Day ... Defense World How will the NAR settlement impact the Buffalo real estate market? - Buffalo Business First The Business Journals Real Estate Report: Economists no longer predict significant reduction in mortgage rates Hawaii News Now Crombie Real Estate Investment Trust (TSE:CRR.UN) Given a C$16.00 Price Target at Raymond James Defense World Ministers Smotrich and Regev Booed Off-stage at Eilat Real Estate Conference - Israel News - Haaretz Vanguard Global ex-U.S. Real Estate ETF (NASDAQ:VNQI) Sees Large Increase in Short Interest Defense World Marin, Solano, Sonoma, Mendocino, Lake commercial real estate transactions: March 28 report North Bay Business Journal REAL ESTATE | The Lofts at Cedar Lake include access to a 245-acre wooded campus washingtoncountyinsider.com Opinion | Real estate feels too darn expensive. But are commissions to blame? The Washington Post Realtor commission change delivers a boon to homebuilders, a blow to real estate platforms Yahoo Finance |
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