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 sites consist of: ForSaleByOwner. com, http://www. forsalebyowner.com (last gone to April 20, 2007); FSBO.com, http://www. fsbo.com (last visited April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last checked out April 20, 2007). http://dominickzjff988.timeforchangecounselling.com/some-known-facts-about-how-to-obtain-a-real-estate-license See Thorburn, Tr - how to become a real estate broker in florida. what is redlining in real estate. at 97-98 (noting the range of tools available to FSBOs). See also GAO REPORT, Find more information 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 business model). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to become real estate agent. 96. This help can consist of: locating and organizing for inspection of homes by prospective purchasers; providing potential purchasers with details such as relative property values and most current asking price; assisting in the settlement process; and helping 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 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 visited April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how long does it take to get a real estate license).com (last gone to 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 Remark 311, at 1.
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Perriello, Tr. at 149. See likewise Whatley, Tr. at 160-61 (noting that consumers now may research online not only homes for sale, but likewise the entire buying and offering procedure). 114. American Bankers Association, Public Comment 10, at 3 (comment). See also Perriello, Tr. at 149 (listing numerous features of genuine estate sites, consisting of property pictures, virtual tours, abundant text, mapping performance, and neighborhood information); Sambrotto, Tr.
You can publish color photos. You can post virtual trips. And you can have that information quickly searched and regularly searched 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 a lot of states, there exists a single licensing board. Further, NAR subscription is needed for all agents and brokers that belong to the huge majority of MLSs in the United States. Such entities are likely to acquire financially from increased entry into the brokerage market. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is repaired, the amount of time that real estate agents dedicate to prospecting and farming relative to actually offering a home or finding an appropriate home for a buyer increases as the market becomes a growing number of competitive, that is, as more real estate agents are chasing the exact same number of customers").
Id. at 1089 (" the expense of finding a customer increases with the number of realtors in the market, without necessarily producing additional benefits to the customer"). 222. These information come from the "total house selling expenditure" field in the Bureau of Labor Stats' annual Customer Expenditure Survey from 1980-1990. This field likewise includes selling expenditures aside from commissions, like closing expenses and lawyers costs, so it is most likely to overemphasize the real 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 showed proof of entry as a result of the current real estate market boom, in addition to proof that NAR membership has varied directly with housing costs for a minimum of the previous twenty years.
226. According to REAL Trends data, the number of transaction sides per agent decreased from 12. 7 in 2000 to 10. 2 in 2005. See http://www. remax-cahi. com/esource/marketingmaterials/ 2005realtrends500. pdf; and the timeshare professionals 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 (approximating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the property organization is why does there seem to be this fairly repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure many individuals today have pointed out, the puzzle is why the percentage commission has been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The evident harmony of commission rates presents an enormous puzzle, specifically if one believes that the cost and effort necessary to sell a house do not increase one to one with the price of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average list prices of brand-new and existing homes in 2005($ 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 Alcohol Dealers Ass 'n v. Midcal Aluminum, Inc., 445 U.S. 97, 105 (1980) (entity claiming state action immunity from federal antitrust laws must demonstrate that its actions are (1) pursuant to a clearly articulated state policy deliberately displacing competitors with an alternative regulative plan and (2) actively supervised by the state or a competent government firm or authorities).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (evaluating state action immunity teaching). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is needed when the activity at problem is not directly that of the legislature or supreme court, however is brought out by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.