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 include: ForSaleByOwner. com, http://www. forsalebyowner.com (last checked out 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 - what does under contract mean in real estate. what is a cma in real estate. at 97-98 (noting the range 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 company design). 94. Henderson, Tr. at 154. 95. Id. at 155 - what is a real estate appraiser. 96. This support can consist of: finding and scheduling examination of homes by potential purchasers; supplying potential purchasers with information such as relative home values and latest selling rates; helping in the settlement process; and assisting to schedule and get ready 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 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 (keeping in mind that all traditional business "have a substantial online presence"). 103. NAR 2006 STUDY, supra note https://diigo.com/0o0n5b 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 do real estate agents make money).com (last gone to April 20, 2007). 109. See, e. g., JustRealEstate. org, http://www. justrealestate.org (last checked out April 20, 2007). 110. See, e. g., Mortgage101. com, http://www. mortgage101.com (last checked out April 20, 2007). 111. See, e. g., Zillow. com, http://www. zillow.com (last checked out 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 customers now might look into online not only houses for sale, however likewise the whole buying and offering process). 114. American Bankers Association, Public Comment 10, at 3 (remark). See also Perriello, Tr. at 149 (listing a number of features of real estate sites, consisting of residential or commercial property pictures, virtual tours, rich text, mapping functionality, and neighborhood info); Sambrotto, Tr.
You can post color pictures. You can post virtual trips. And you can have that information easily searched and regularly browsed by purchasers 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 STUDY, supra timeshare travis reviews note 4, at 37. In the majority of states, there exists a single licensing board. Even more, NAR subscription is required for all agents and brokers that come from the huge majority of MLSs in the United States. Such entities are most likely to gain 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 quantity of time that realtors dedicate to prospecting and farming relative to really offering a house or discovering an appropriate house for a buyer increases as the marketplace ends up being more and more competitive, that is, as more real estate agents are chasing after the exact same variety of clients").
Id. at 1089 (" the expense of finding a consumer increases with the number of real estate agents in the market, without always creating additional advantages to the consumer"). 222. These data come from the "total house offering expenditure" field in the Bureau of Labor Statistics' annual Consumer Expenditure Survey from 1980-1990. This field also consists of selling costs besides commissions, like closing expenses and attorneys fees, so it is most likely to overstate 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 evidence of entry as a result of the recent real estate market boom, as well as evidence that NAR membership has actually differed directly with real estate rates for a minimum of the past 20 years.
226. According to REAL Trends information, the variety 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 (approximating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the property service is why does there appear to be this relatively fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain lots of people today have explained, the puzzle is why the portion commission has been so stubbornly relentless."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent harmony of commission rates provides a huge puzzle, especially if one believes that the cost and effort needed to offer a home do not increase one to one with the rate of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. how to get out of my timeshare 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted average sales rate of brand-new and current houses in 2005($ 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 Liquor Dealers Ass 'n v. Midcal Aluminum, Inc., 445 U.S. 97, 105 (1980) (entity claiming state action immunity from federal antitrust laws must show that its actions are (1) pursuant to a clearly articulated state policy intentionally displacing competition with an alternative regulative plan and (2) actively monitored by the state or a certified federal government agency or official).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (examining state action resistance doctrine). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is needed when the activity at issue is not straight that of the legislature or supreme court, however is performed by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.