Lack Of Consumer Protection In Real Estate Costs Billions
National Association of Exclusive
WASHINGTON, D.C. - Real estate and housing is one of the least consumer protected areas in our country and buyers overpay for housing by more than $10 billion due to poor representation, Ralph Nader told The National Association of Exclusive
Buyer Agents (NAEBA) at its convention.
Nader added that "real estate is difficult to get organized from a consumer point of view because there's a lot of money at stake" and added that figures from the Consumer Federation of America show that $10 billion is lost because consumers are not adequately represented.
Members of NAEBA are dedicated to promoting the rights of and representing the best interests of the buyer in every real estate transaction. NAEBA is an independent alliance of exclusive buyer agents (EBA) throughout North America whose real estate companies do not take seller-property listings.
Nader urged NAEBA to start a clearinghouse of contract and real estate abuses against consumers to keep the public informed. Nader said the moves by the National Association of Realtors into mandatory or compulsory arbitration is a way of "forcing people to give up their constitutional rights" and "provisions in contracts are written so one-sided (for the seller) and non-negotiable." Nader added, "The vibrancy of contract negotiations is what a market economy has to have. We've moved into contracts that are "sign here on the dotted line." We can't have that for consumer protection."
At the convention, NAEBA also certified 50 members as Certified Exclusive
Buyer Agents (CEBA) at its convention. It is the first time in the United States that this certification has been offered for exclusive buyer agency. Educational sessions, including CEBA designation courses, were given at the conference on client counseling, agency, personal marketing and ethics.
Copyright © The National Association of Exclusive
Buyer Agents 1998