Its multi-million-dollar campaign aside, NAR is not alone in its endeavor to keep banks from buying locally owned and operated real estate companies. A survey of the organization's membership indicates that 90% of realtors are against banks entering the real estate business. While 189 congressional members are behind the legislation, NAR wants to garner the support of more legislators, as well as the public. "The radio campaign is one way we're educating consumers and homebuyers about what could happen if big banks are allowed into real estate," NAR's Linda M. Johnson tells GlobeSt.com. "The proposed regulation would effect both residential and commercial real estate. This is a way of educating the public and Congress."
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