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 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 gone to April 20, 2007). See Thorburn, Tr - what is noi in real estate. how much does it cost to get a real estate license. 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 service model). 94. Henderson, Tr. at 154. 95. Id. at 155 - what is a real estate novelist. 96. This support can timeshares com include: locating and setting up for evaluation of residential or commercial properties by prospective buyers; offering prospective buyers with details such as relative property values and newest market price; helping in the negotiation process; and helping 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 SURVEY, supra note 38, at 59. 101. See Hahn, Tr. at 29-30; AEI-Brookings Paper, supra note 3, at 13 n. 49; timeshare cancellation services 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 become a real estate agent in va).com (last checked out 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 checked out 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 (noting that customers now might research online not just houses for sale, however likewise the entire buying and selling procedure). 114. American Bankers Association, Public Comment 10, at 3 (comment). See also Perriello, Tr. at 149 (listing a number of features of realty websites, consisting of home photos, virtual tours, abundant text, mapping functionality, and neighborhood info); Sambrotto, Tr.
You can post color images. You can publish virtual trips. And you can have that info easily searched and regularly browsed by purchasers from their own houses 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 wesly com 37. In many states, there exists a single licensing board. Even more, NAR membership is needed for all representatives 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 industry. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is repaired, the quantity of time that realtors commit to prospecting and farming relative to actually offering a home or discovering a suitable home for a purchaser 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 cost of finding a customer increases with the number of realtors in the market, without always producing extra advantages to the customer"). 222. These information come from the "total home offering cost" field in the Bureau of Labor Data' annual Consumer Expenditure Study from 1980-1990. This field likewise consists of selling costs other than commissions, like closing expenses and attorneys 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 an outcome of the recent real estate market boom, in addition to evidence that NAR subscription has actually varied straight with real estate costs for at least the previous twenty years.
226. According to REAL Trends information, the variety of deal 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 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 (estimating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty service is why does there seem to be this relatively fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure many individuals today have actually mentioned, the puzzle is why the percentage commission has been so stubbornly relentless."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent uniformity of commission rates provides a massive puzzle, especially if one thinks that the cost and effort required to offer a house do not increase one to one with the cost of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average sales rate of new and existing houses in 2005($ 271,263), the buyer's broker's share of a $13,834 commission would be $6,917. A purchaser 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 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 qualified government company or official).
2003), readily available at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (analyzing 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 problem 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.