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The NAR "Cartel" Controlled by Dominant Brokers

Evidently my post from yesterday disappeared between my hitting submit and the post being saved to the server and published – or was it because it contained some news quips on a rather fiery topic … but that’s okay because the CFA (Consumer Federation of America) Executive Director Steve Brobeck is in the news again today.

Testifying before a subcommittee of the House Financial Services Committee in late July Brobeck railed on the NAR voicing his opinion that the entire real estate industry is run by insiders who don’t care that 2.5 million agents make 7 million sales per year. He went on further to call the NAR a “cartel” controlled by “dominant brokers” who are mainly concerned with some $84 per year from around 1.3 million members.

You don’t have to know me well to know that I think government regulation is, in most cases, a waste of tax payer’s dollars and the demise of fair and acceptable business practices. You also know that I believe all loan officers (anyone who takes an application) should be required to be licensed and educated – by an industry group. Then if another group or watchdog group wants to sue the industry group – have at it!

I’m all about totally free enterprise. Furthermore I believe that educated customers are the best customers therefore I educate. I tell seminar and workshop attendees that people in my business who accept applications in many states are not required to be licensed. I also tell them that the idea that any person can take a 40 hour class and get their license is absurd and the major problem with my particular industry.

I think there is something to Mr. Brobeck’s tales but I think the government needs to stay out of business and operate the courts that uphold the laws and let internal industry regulations and watchdog groups take care of business.

Oh – lobbying? I support a powerful lobby but I don’t like the lobby system. At all.

You?