BrokerageIndustry News

Debate over real estate ‘Buyer’s Choice’ law

Does California's AB 957 make a difference?
Published on Nov 12, 2009

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by CareyBot

Aimed at preventing banks from dictating the escrow and title services used in bank-owned (REO) property transactions, California's Assembly Bill 957 was approved and immediately implemented last month.

However, some real estate agents and brokers question the effectiveness of the bill, dubbed the Buyer's Choice Act.

"I don't know if it's going to make a difference," said Ralph Gorgoglione, a real estate agent with John Aaroe Group Inc. of Sherman Oaks.