NAR Running Scared

Check out this National Association of Realtors press release.

"Banks have once again demonstrated their incredible ability to find ways to charge customers record fees. Banks that once touted warm, fuzzy customer relations now are brazenly charging nearly $3 to use an ATM and more than $26 for a bounced check. Imagine what they will do to the real estate customer if they are allowed to broker real estate. Banks will control the real estate transaction end-to-end, creating virtually unlimited opportunities for extra charges and add-ons", said NAR President Thomas M. Stevens of Vienna, Va.

There is increasing competition for real estate transactions. Think For Sale By Owner (FSBO) and discount brokers. Oh and the bubble is bursting. The Realtors are running scared.