It'll likely not be taken care of until the 2008 Congressional Housing Bubble hearings, but I expect some MAJOR changes afoot at the ol' NAR.
This corrupt organization, which of course is a top briber of the past Congress, not only needs a serious disinfecting, I would suggest it needs a disbanding.
Yes, the market might take care of that for us, especially when the MLS is ruled to be anti-competitive or google finally destroys it. You'll also see more courageous real estate clerks (like Osman and Danilo) try to take it down from the inside.
If you have a few minutes, browse this anti-NAR tirade - lots of great info, especially that 1972 mob-like shakedown.
Wouldn't it be fun to mount a protest outside of the next NAR convention? I'm thinking in the style of the 1972 Chicago Democratic convention, or Seattle '99 WTO protest. Gotta be a bit of tear gas to really make a statement these days. And I'd bet there'd plenty of bankrupt homedebtors screwed over by real estate clerks, hungry dues-paying realtors themselves, and the masses of bubble blog readers, to mount a nice anti-NAR campaign soon.
From the anti-NAR report on the Department of Justice website:
Organized real estate is beset with illegality. Despite spending over a trillion dollars a year on homes, consumers don't get what they deserve. Agents are victimized by their trade association, the National Association of Realtors.
The Department of Justice should bring criminal charges against NAR for its 1972 price fixing conspiracy that created the DR formula. New Realtor associations spring up each year and NAR actively makes sure each one is part of the conspiracy. Thus, many criminal acts took place within the statute of limitations. The victimized public should demand an end to these practices.
December 30, 2006
The NAR under fire - "Organized real estate is beset with illegality. The victimized public should demand an end to these (NAR) practices"
Posted by blogger at 12/30/2006