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 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 gone to April 20, 2007). See Thorburn, Tr - how to become real http://devinjemk511.lowescouponn.com/the-ultimate-guide-to-what-does-contingent-mean-on-a-real-estate-listing estate agent. what does mls stand for in real estate. 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 design). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to invest in real estate with little money. 96. This assistance can consist of: locating and setting up for assessment of properties by potential purchasers; supplying prospective buyers with information such as relative home values and latest asking price; assisting 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 (keeping in mind that all conventional business "have a considerable online presence"). 103. NAR 2006 SURVEY, 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 started in real estate).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 checked out 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 consumers now may look into online not only homes for sale, however also the entire purchasing and offering procedure). 114. American Bankers Association, Public Remark 10, at 3 (comment). See likewise Perriello, Tr. at 149 (listing several features of real estate websites, including residential or commercial property images, virtual tours, rich text, mapping functionality, and community details); Sambrotto, Tr.
You can post color photos. You can publish virtual tours. And you can have that info easily browsed and frequently searched by purchasers 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 STUDY, supra 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 belong to the huge bulk of MLSs in the United States. Such entities are most likely to acquire economically 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 real estate agents dedicate to prospecting and farming relative to in fact selling a house or discovering an appropriate home for a buyer increases as the market ends up being increasingly more competitive, that is, as more real estate agents are chasing the very same variety of clients").
Id. at 1089 (" the expense of finding a client increases with the number of realtors in the market, without necessarily producing fringe benefits to the consumer"). 222. These data originate from the "total house offering cost" field in the Bureau of Labor Data' yearly Customer Expenditure Survey from 1980-1990. This field likewise consists of selling expenses aside from commissions, like closing expenses and lawyers costs, 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 revealed evidence of entry as a result of the current housing market boom, along with evidence that NAR subscription has differed directly with housing rates for a minimum of the past 20 years.
226. According to REAL Trends information, the Browse this site variety of transaction 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 Comment 208, at 12. 228. Yun, Tr. at 225. See conversation in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty company is why does there appear to be this relatively repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain many individuals today have mentioned, the puzzle is why the percentage commission has actually been so stubbornly relentless."); Hsieh & Moretti, supra note 139, at 1086 (" The evident harmony of commission rates provides a massive puzzle, especially if one thinks that the expense and effort essential to sell a house do not increase one to one with the price of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average prices of new and current houses in 2005($ 271,263), the buyer's broker's share of a $13,834 commission would be $6,917. A buyer 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 clearly articulated state policy deliberately displacing competition with an alternative regulatory 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 teaching). 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.