Industry News

States ease one-stop real estate shopping restrictions

No new laws enacted since 2001, survey shows

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In what many cross-industry leaders in the residential real estate industry hail as a positive development, state legislators and regulators appear to be gradually moving away from laws that restrict one-stop shopping for home buyers and owners. According to the 2005 Survey of State Affiliated Business Laws published this month by the Real Estate Services Providers Council, no new state restrictions on affiliations between providers from different industries – so-called "anti-affiliation" laws – have been enacted since it published a similar state survey in 2001. In addition, several states have either repealed or modified their anti-affiliation laws. The survey covers three basic types of state anti-affiliation restrictions: those that restrict affiliations between financial institutions and insurers, those that place percentage cap limitations on the amount of business a title insurer and/or agency can receive from an affiliate (such as a home builder, mortgage lender...