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 visited April 20, 2007); FSBO.com, http://www. fsbo.com (last checked out April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last gone to April 20, 2007). See Thorburn, Tr - what is the difference between a real estate agent and a broker. how to make money in real estate with no money. at 97-98 (keeping in mind the range of tools offered to FSBOs). See also 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 service design). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to become a real estate broker in florida. 96. This assistance can include: locating and setting up for evaluation of properties by potential purchasers; providing prospective purchasers with info such as relative property values and most the best timeshare to buy current asking price; assisting in the negotiation procedure; and helping to schedule and get ready for closing of the deal.
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Henderson, Tr. at 156-57. 98. NAR 2006 SURVEY, supra note 4, at 77. 99. Id. at 80, 68. 100. NAR 2005 STUDY, 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 (noting that all conventional companies "have a significant 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 broker in california).com (last visited April 20, 2007). 109. See, e. g., JustRealEstate. org, http://www. justrealestate.org (last gone to 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 also Whatley, Tr. at 160-61 (keeping in mind that consumers now might investigate online not just homes for sale, but likewise the whole buying and selling procedure). 114. American Bankers Association, Public Remark 10, at 3 (comment). See likewise Perriello, Tr. at 149 (listing numerous functions of realty websites, including home pictures, virtual tours, abundant text, mapping performance, and area information); Sambrotto, Tr.
You can post color photos. You can publish virtual trips. And you can have that information quickly browsed and regularly browsed by purchasers from their own homes on the [I] nternet."). 115. DelBianco, Tr. at 185. 116. NAR 2005 SURVEY, supra note 38, at 29. 117. NAR 2006 SURVEY, supra note 4, at 37. In most states, there exists a single licensing board. Further, NAR subscription is needed for all representatives and brokers that come from the huge majority of MLSs in the United States. Such entities are likely to gain economically from increased entry into the brokerage industry. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is fixed, the quantity of time that real estate agents commit to prospecting and farming relative to in fact offering a home or discovering an appropriate house for a buyer increases as the marketplace becomes a growing number of competitive, that is, as more realtors are chasing after the very same number of consumers").
Id. at 1089 (" the cost of finding a customer increases with the number of real estate agents in the market, without always producing additional advantages to the customer"). 222. These data originate from the "total house offering expenditure" field in the Bureau of Labor Statistics' annual Customer Expenditure Survey from 1980-1990. This field likewise consists of selling expenditures aside from commissions, like closing expenses and attorneys costs, 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 proof of entry as a result of the recent housing market boom, in addition to proof that NAR membership has differed straight with real estate rates for at least the past 20 years.
226. According to REAL Trends data, the number of deal sides per representative declined 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 Comment 208, at 12. 228. Yun, Tr. at 225. See conversation in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the genuine estate service is why does there appear to be this reasonably fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain many individuals today have mentioned, the puzzle is why the portion commission has been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The evident harmony of commission rates presents a huge puzzle, especially if one believes that the cost and effort essential to sell a home do not increase one to one with the cost of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). http://connermfqb321.image-perth.org/an-unbiased-view-of-when-are-real-estate-taxes-due 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted average sales rate of brand-new and current homes in 2005($ 271,263), the purchaser's broker's share of a $13,834 commission would be $6,917. A purchaser who is rebated half of this would receive $3,459.
242. See, e. g., California Retail Liquor Dealers Ass 'n v. Midcal Aluminum, Inc., 445 U.S. 97, 105 (1980) (entity declaring state action immunity from federal antitrust laws need to demonstrate that its actions are (1) pursuant to a plainly articulated state policy deliberately displacing competitors with an alternative regulative scheme and (2) actively supervised by the state or a certified government agency or official).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (evaluating state action resistance doctrine). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is required when the activity at issue is not straight that of the legislature or supreme court, but is carried out by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.