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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (68479)12/11/2006 9:32:20 AM
From: Think4YourselfRead Replies (1) of 306849
 
The bottom line is this: People rely on their Realtor and their Mortgage Broker to understand the details and make sure the customer doesn't do anything foolish. That's a key reason the Realtor and Broker make so much money on the transaction. Unfortunately these people often don't take the time to understand each person's financial situation. It is also in their financial best interest to sell the customer as much as possible. Without regulation of the industry you get the mess we are in now.

I am no fan of regulation. It fosters anti-competitive behaviour and allows the incompetent in our society safe refuge as far as employment goes (Remember the arrogant and mostly worthless sh#%heads at AT&T in the 80's?). Regulation is needed in this case to protect the consumer both from themself and unscrupulous Realtors/Brokers.
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