A-00-CA-154JN, 2000 WL 34239114, at * 2 (W.D. Tex. Mar. 30, 2000). 87. DelBianco, Tr. at 182. 88. Id. 89. Id. 90. Id. at 186. 91. Examples of FSBO websites consist of: ForSaleByOwner. com, http://www. forsalebyowner.com (last gone to April 20, 2007); FSBO.com, http://www. fsbo.com (last gone to April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last checked out April 20, 2007). See Thorburn, Tr - how much does it cost to get a real estate license. how much do real estate agents make per sale. at 97-98 (noting the variety of tools readily available to FSBOs). See likewise GAO REPORT, supra note 3, at 20. 92. Sambrotto, Tr. at 86. 93. See ForSaleByOwner. com Corp. v. Zinnemann, 347 F. Supp. 2d 868, 870-71 (E.D. Cal.
com company design). 94. Henderson, Tr. at 154. 95. Id. at 155 - what is a real estate novelist. 96. This assistance can consist of: locating and scheduling inspection of residential or commercial properties by potential purchasers; providing potential purchasers with details such as relative residential or commercial property values and most current market price; helping in the negotiation process; and assisting to schedule and prepare for closing of the deal.
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Henderson, Tr. at 156-57. 98. NAR 2006 STUDY, supra note 4, at 77. 99. Id. at 80, 68. 100. NAR 2005 SURVEY, supra note 38, at 59. 101. See Hahn, Tr. at 29-30; AEI-Brookings Paper, supra note 3, at 13 n. 49; Nadel, supra note 25, at 4-5. 102. See Perriello, Tr.
at 174 (keeping in mind that all conventional companies "have a considerable online presence"). 103. NAR 2006 STUDY, supra note 4, at 44. 104. See Whatley, Tr. at 160-61. 105. Id. at 210-11. 106. Id. at 161. 107. Id. 108. E.g., ForSaleByOwner. com, http://www. forsalebyowner.com (last checked out April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to become a real estate agent in illinois).com (last visited April wfgei online login 20, 2007). 109. See, e. g., JustRealEstate. org, http://www. justrealestate.org (last visited April 20, 2007). 110. See, e. g., Mortgage101. com, http://www. mortgage101.com (last visited April 20, 2007). 111. See, e. g., Zillow. com, http://www. zillow.com (last gone to April 20, 2007). 112. Shortt, Public Comment 311, at 1.
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Perriello, Tr. at 149. See likewise Whatley, Tr. at 160-61 (keeping in mind that customers now might investigate online not only homes for sale, however also the entire buying and offering process). 114. American Bankers Association, Public Comment 10, at 3 (remark). See also Perriello, Tr. at 149 (listing numerous features of realty sites, including property pictures, virtual tours, rich text, mapping performance, and area info); Sambrotto, Additional info Tr.
You can post color photos. You can post virtual tours. And you can have that details quickly browsed and often browsed by buyers from their own houses on the [I] nternet."). 115. DelBianco, Tr. at 185. 116. NAR 2005 STUDY, supra note 38, at 29. 117. NAR 2006 SURVEY, supra note 4, at 37. In many states, there exists a single licensing board. Even more, NAR membership is required for all agents and brokers that belong to the huge majority of MLSs in the United States. Such entities are most likely to get financially from increased entry into the brokerage market. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is fixed, the amount of time that real estate agents devote to prospecting and farming relative to really selling a house or finding a suitable house for a buyer increases as the marketplace becomes more and more competitive, that is, as more realtors are chasing the very same variety of consumers").
Id. at 1089 (" the cost of discovering a client increases with the variety of realtors in the market, without necessarily generating fringe benefits to the consumer"). 222. These data come from the "overall house offering expense" field in the Bureau of Labor Stats' annual Consumer Expenditure Survey from 1980-1990. This field also consists of selling costs aside from commissions, like closing costs and lawyers fees, so it is most likely to overemphasize the actual commission rate.
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Id. at 1082. 223. Id. at 1118. 224. Id. at 1116-17. 225. See Hsieh & Moretti, supra note 139, at 213 and accompanying text. Yun revealed evidence of entry as an outcome of the current real estate market boom, in addition to proof that NAR subscription has differed directly with real estate costs for a minimum of the previous twenty years.
226. According to REAL Trends data, the variety of deal sides per representative decreased from 12. 7 in 2000 to 10. 2 in 2005. See http://www. remax-cahi. com/esource/marketingmaterials/ 2005realtrends500. pdf; and http://www. realtrends.com/past_newsletters. asp?article= newsletters/2005 _ 04_6. htm. 227. NAR, Public Remark 208, at 12. 228. Yun, Tr. at 225. See discussion in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the property organization is why does there appear to be this reasonably repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain lots of people today have actually mentioned, the puzzle is why the portion commission has actually been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The obvious harmony of commission rates presents a huge puzzle, particularly if one believes that the expense and effort needed to sell a home do not increase one to one with the price of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted typical prices of brand-new and existing homes in 2005($ 271,263), the purchaser's broker's share of a $13,834 commission would Article source be $6,917. A buyer who is rebated half of this would receive $3,459.
242. See, e. g., California Retail Alcohol Dealers Ass 'n v. Midcal Aluminum, Inc., 445 U.S. 97, 105 (1980) (entity declaring state action resistance from federal antitrust laws should show that its actions are (1) pursuant to a plainly articulated state policy intentionally displacing competitors with an alternative regulative plan and (2) actively monitored by the state or a certified federal government firm or authorities).
2003), readily available at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (examining state action resistance teaching). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is needed when the activity at concern is not directly that of the legislature or supreme court, however is carried out by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.