This is getting a bit ridiculous. Now real estate agents are looking for a piece of the bailout. Heres the story from DSNews.com
| A group of real estate agents is organizing a petition calling for changes to the Troubled Asset Relief Program (TARP) that would allow more real estate agents the opportunity to sell REO properties.
The petition, organized by Foreclosureu.com based in Rogers, Minnesota, a suburb of Minneapolis, says banks are unfairly limiting which real estate agents can sell REO properties. The petition says 0.006 percent of the nation’s real estate agents sell 95 percent of available REO properties in the country. According to the petition, “The lenders disposing these real estate assets have made it exceedingly difficult and in many cases impossible, for the vast majority of Realtors to fairly compete for this business…With many markets around the country being totally dominated with foreclosure sales only, the rest of the industry of over 1 million Realtors has nothing left to compete for.” The group called the bank actions “unfair, inefficient and anti-competitive,” but said they were tolerated when the government did not have a stake in the institutions. But now that banks that have REO properties are receiving TARP funds, those practices should change. In a press release, the group said, “Now that the American taxpayer has a direct interest in a large number of these banking institutions, Realtors have acquired a legitimate say in how these institutions distribute this business.” The petition calls for legislation that would require “fair and proportionate” distribution of REO listings to real estate agents that want to compete for work. The petitioners hopes to get 100,000 signatures, and the petition will be sent to the members of Congress on March 1. |
