Banks in real estate business

Originally Posted By: kelliott
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Does anyone have any details about some legislation that is supposed to expire shortly, that if left unchecked will allow banks and mortgage companies to dabble in real estate, with the resulting “bundling” of costs creating a boon for them, and creating an upheaval for real estate as we now know it.


I’m wondering if this is something we need to be concerned about as home inspectors, and why would I care if banks and realtors have to compete? seems to me it would just give me an additional place to market my business. Apparently NAR is quite concerned about it, and is lobbying congress, but I haven’t gotten all the details. Wondering what anyone else has heard about this.


Originally Posted By: jremas
This post was automatically imported from our archived forum.



This subject was brought to light by the current NACHI president only to be turned into an ASHI bashing thread instead of an intelligent conversation / debate by the members in typical NACHI fashion.


Look Here: http://www.nachi.org/bbsystem/viewtopic.php?t=6976


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Jeff Remas
REMAS Inspections, Inc.
Northeastern PA & the Poconos
www.NEPAinspector.com

570-362-1598

Originally Posted By: rmoewe
This post was automatically imported from our archived forum.



jremas wrote:
This subject was brought to light by the current NACHI president only to be turned into an ASHI bashing thread instead of an intelligent conversation / debate by the members in typical NACHI fashion.


![icon_lol.gif](upload://zEgbBCXRskkCTwEux7Bi20ZySza.gif) ![icon_lol.gif](upload://zEgbBCXRskkCTwEux7Bi20ZySza.gif) ![icon_lol.gif](upload://zEgbBCXRskkCTwEux7Bi20ZySza.gif) ![icon_lol.gif](upload://zEgbBCXRskkCTwEux7Bi20ZySza.gif)
That would be another avenue of marketing.


Originally Posted By: dbowers
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The fear is that banks (those that have the money for loans) would line up their own teams of HI’s (just like the do with appraisers) and would dominate the market (since you’re trying to get their money people would go to their HI’s, etc). Which more than likely isn’t you or I.


Originally Posted By: rmoewe
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Originally Posted By: Brian A. Goodman
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Before I went into HI I did a long year in appraisal. The way banks and other financial institutions dominate appraisers is something realtors can only dream about where we’re concerned. If the banks get thier way we’ll be in the same sorry boat; rubber stamp all of thier deals or be locked out.


I have no particular love for realtors and don't get many referrals from them, but I'd much rather contend with them than bankers. Niether of them are our friends when you get down to it, and I like my enemies divided. I've emailed both of my congressman about this and I'd urge anyone else in our business to do the same.