Senators Boxer and Burr Protecting Realtors At Your Expense

"Community Choice in Real Estate Act" Intended To Prevent Community Choice

Amazing how senators name these bills exactly the opposite of what they really
mean. Kind of like how the Patriot Act allows spying on Americans without a warrant.

A more proper name for the Community Choice Act would be the Realtor's Choice Act:

http://boxer.senate.gov/news/releases/record.cfm?id=307559

Please write your senator and let him know you are tired of his protection of
the monopolistic and deceptive practices that got the country into its current
predicament. Sample letter below, submitted to patrick.net by Selva S.

    Dear Senator,
       
    The primary architects of this housing crisis are realtors and brokers.
    They lured buyers into paying far too much for houses while their
    well-funded NAR spokesmen gave very bad financial advice to the public, all
    in pursuit of commissions.  Now the banks are sitting on many foreclosed
    properties and taxpayers are forced to bail out the banks.

    Realtors and brokers don't need any protection. The American people need
    protection from realtors and brokers!  American realtor commissions are
    among the highest in the world due to monopolistic practices protected by
    lawmakers like Barbara Boxer and Richard Burr.

    Please refer to this research paper:
    http://business.fullerton.edu/finance/irer/papers/past/vol5_pdf/012_039US.pdf

    I would like to buy a foreclosed house directly from a bank without
    non-productive intermediaries like realtors. I would like to avoid paying
    hefty commissions for services I don't want or need.

    Both the banks and consumers will be better off by directly dealing with each
    other.

    It is the realtors who are stifling competition from the internet and other
    forms of competition.  They are influential group and they have effectively
    killed any competition and protected their commissions at the expense of the
    public via legislation exactly like this.

    Let the banks lend the money and sell houses directly to a person who is
    creditworthy without these intermediaries. This will bring healthy
    competition to our housing market.

    Other countries do not preclude banks from doing such business.

    Please drop the more-properly-named "Realtor's Choice Act".

    Thanks,

    Your Name