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 include: ForSaleByOwner. com, http://www. forsalebyowner.com (last visited April 20, 2007); FSBO.com, http://www. fsbo.com (last visited April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last gone to April 20, 2007). See Thorburn, Tr - what does mls stand for in real estate. how long does it take to get a real estate license. at 97-98 (keeping in mind the variety of tools offered 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 organization model). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to be a real estate investor. 96. This assistance can include: locating and scheduling evaluation of residential or commercial properties by potential purchasers; offering prospective purchasers with information such as relative property worths and most recent asking price; helping in the settlement process; and assisting to schedule and get ready for closing of the transaction.
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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 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 existence"). 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 get leads in real estate).com (last visited April 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 checked out April 20, 2007). 112. Shortt, Public Remark 311, at 1.
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Perriello, Tr. at 149. See likewise Whatley, Tr. at 160-61 (noting that customers now may research online not only houses for sale, however likewise the whole buying and offering process). 114. American Bankers Association, Public Remark 10, at 3 (remark). See also Perriello, Tr. at 149 (listing several features of property websites, including property images, virtual tours, abundant text, mapping performance, and area information); Sambrotto, Tr.
You can post color photos. You can post virtual tours. And you can have that info quickly browsed and often searched by buyers from their own homes 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 the majority of states, there exists a single licensing board. Further, NAR Visit the website membership is required for all agents and brokers that come from the huge bulk of MLSs in the United States. Such entities are most likely to get financially from increased entry into the brokerage industry. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is repaired, the amount of time that realtors commit to prospecting and farming relative to actually selling a home or discovering a suitable house for a purchaser increases as the market becomes a growing number of competitive, that is, timeshare vs vacation club as more real estate agents are chasing the very same number of customers").
Id. at 1089 (" the cost of finding a client increases with the number of real estate agents in the market, without always generating fringe benefits to the customer"). 222. These information come from the "overall home offering expenditure" field in the Bureau of Labor Data' yearly Consumer Expense Study from 1980-1990. This field likewise includes selling expenditures aside from commissions, like closing costs and lawyers charges, so it is most likely to overstate the actual commission Visit this site 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 showed evidence of entry as a result of the recent housing market boom, along with proof that NAR membership has actually varied directly with housing prices for a minimum of the previous twenty years.
226. According to REAL Trends data, the number 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 conversation in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty service is why does there seem to be this fairly repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure lots of people today have pointed out, the puzzle is why the portion commission has been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The obvious uniformity of commission rates presents an enormous puzzle, specifically if one thinks that the cost and effort necessary to offer a house do not increase one to one with the rate of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted typical list prices of new and existing houses in 2005($ 271,263), the purchaser's broker's share of a $13,834 commission would be $6,917. A buyer who is rebated half of this would get $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 immunity from federal antitrust laws need to demonstrate that its actions are (1) pursuant to a clearly articulated state policy purposefully displacing competitors with an alternative regulative scheme and (2) actively monitored by the state or a competent government firm or authorities).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (examining state action immunity 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 performed by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.