Inman

Readers weigh in on RESPA, red tape

The following is a collection of reader comments found on Inman.com:

Your reputation is on the line when writing online
EPerks sues blogger over online comments
"This problem seems to point back to greed. The fact that Vlad was being paid to write the original reviews strikes me as part of the problem. I know that this is part of the norm out there, but it is still deceiving. Most people that are reading blogs are of the belief that the writer is unbiased or is at least an outsider. If you are being paid to blog, you are part of the company that hires you and they should have some control over your output. If you don’t like your employers, don’t work for them; and keep in mind that it is your reputation you are putting on the line when you decide to sell out."
–Todd Anderson

Red tape abounds in banking
Fed: Lenders still tightening standards
"There seems to be more red tape with the banks currently and there seems to be more people who know less in the banking industry today due to this red tape."
–Ralph M.

RESPA needs more teeth
Realtors, mortgage bankers at odds over packaging
The current housing finance crisis would be far less severe if RESPA regulations had been stronger, because those regulations could have both restricted some types of dangerous practices and improved the disclosure of risks of certain types of mortgages to American homeowners. A stronger RESPA regulation is clearly needed and will help prevent similar crises in the future.

We commented on the proposed RESPA regs (our comments are posted on www.AmericanHomeowners.org). In our recommendations we urge HUD to strengthen the proposed regulation. We also urged HUD to undertake separate investigations of other real estate service sector practices that are causing significant problems for American homeowners, and to propose regulations to address those problems.
–Bruce Hahn, president of the American Homeowners Grassroots Alliance

Few real estate professionals are ‘cream of the crop’
Solve CRM issue, make a fortune
It will NEVER happen. For the few select real estate professionals that are always on their game and the cream of the crop, real estate franchises will continually recruit/hire real estate agents who are lazy (cannot even install a photo of a property in a real estate magazine … too new for photo), who will fight technology (cannot/will not learn uploading of photos/videos) and will resist change altogether (see the double-edged-sword Realtors on here who complain about their organization consistently, still pay their real estate dues, and then tell the prospective seller "they belong to the MLS").

Franchises need money (and) still hire real estate professionals who should not be in the industry so the franchises can collect fees/income.

WON’T happen EVER…
–Ralph M.

Upset? ‘Share your outrage’
New MLS system nothin’ but trouble
"Dear Realtors,

Guess what? Your future customers already know that the MLS system is antiquated. Your customers also are likely to read about the U.S. Justice Department’s antitrust lawsuit.

Keeping criticism ‘in-house’ won’t help to preserve the image of the industry any more than a subprime loan tent revival.

The question is: Why can’t the MLS system do a better job at meeting your needs and the needs of your clients? Why has the industry been so awkward in adapting to new technologies?

As Kris so succinctly points out, clients will always check out the alternatives. Why should you have to make excuses for and struggle with a system you are paying for? Share your outrage!

One would hope that complaining with the wit, wisdom and insight Kris displays in her article would garner a positive response, but these days who knows?

BTW, "Arrested Development" is one of the funniest TV shows ever aired. If you can’t see that, how can you sell anything in today’s market?"
–"gretzilla durress"

Daniel Rothamel, community manager for Inman News, compiled the items in this report.

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