ForeclosureU.com Spearheads Realtor Petition to United States Congress That Will Require Banks to Fairly Distribute Foreclosed Real Estate Listings

    MINNEAPOLIS, MN, February 04, 2009 /24-7PressRelease/ -- A petition, by Realtors for Realtors, to the United States Congress has been launched that demands banks receiving Troubled Asset Relief Program (TARP) monies institute a more equitable distribution of foreclosed property listings to a greater percentage of Realtors.

Currently 95% of all foreclosed properties are being sold by less than .05% of the nations 1 million Realtors. Banks and Property management companies responsible for the disposition of these toxic real estate assets have slammed their doors on allowing other Realtors the opportunity to compete for the listing and sale of these real estate assets.

Prior to TARP, as private institutions, banks had every right to utilize this unfair, inefficient and anti-competitive model of distributing foreclosed property listings to a select number of their "preferred" Realtors.

No longer. Now that the American taxpayer has a direct interest in a large number of these banking institutions, Realtors have acquired a legitimate say in how these institutions distribute this business.

As American taxpayers, Realtors are choosing to exercise that interest through petitioning the United States Congress, requesting that they immediately construct a bill requiring TARP related banks fairly and proportionally start distributing their foreclosed real estate listings to Realtors wishing to compete for this business.

A nationwide petition effort to obtain 100,000 Realtor signatures has commenced. The petition will be forwarded to every member of US Congress March 1, 2009. The full petition can be read at:

www.petitiononline.com/lkjsdf/petition.html

Source: ForeclosureU.com
Website: http://www.foreclosureu.com

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