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Competition in Real Estate Brokerage from National Banks and Financial Holding Companies

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Gustav D. Jud, Retired (Creator)
Daniel T. Winkler, Professor (Creator)
Institution
The University of North Carolina at Greensboro (UNCG )
Web Site: http://library.uncg.edu/

Abstract: The passage of the Gramm-Leach-Bliley Act (GLB) in 1999 permits nationally-chartered banking institutions to engage in real estate brokerage business if certain conditions are met. However, the Community Choice in Real Estate Act legislation seeks to prevent the GLB Act from being enacted. A survey of banking institutions involved in real estate brokerage finds that these institutions are smaller, less profitable and growing more slowly than the average state-chartered bank. These banks appear to be seeking more profitable lines of business. The results also reveal that most banks are concerned about a substantial loss of loan referrals and other business from Realtors®.

Additional Information

Publication
Journal of Real Estate Practice and Education, vol. 8, no. 1, 2005, 83-98
Language: English
Date: 2005
Keywords
Gramm-Leach-Bliley Act, Community Choice in Real Estate Act, Real estate, Brokerage, banks