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 checked out April 20, 2007); FSBO.com, http://www. fsbo.com (last checked out April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last checked out April 20, 2007). See Thorburn, Tr - how to become a real estate developer. what is a real estate novelist. at 97-98 (noting the range of tools readily available 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 get started in real estate. 96. This support can consist of: finding and organizing for assessment of properties by potential buyers; providing prospective buyers with information such as relative residential or commercial property values and most recent selling rates; helping in the negotiation procedure; and assisting to schedule and prepare for closing of the transaction.
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Henderson, Tr. at 156-57. 98. NAR 2006 SURVEY, 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 standard companies "have a significant online existence"). 103. NAR 2006 STUDY, supra Click here to find out more 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 (what are cc&rs in real estate).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 also Whatley, Tr. at 160-61 (noting that customers now might look into online not only homes for sale, but also the whole purchasing and offering procedure). 114. American Bankers Association, Public Comment 10, at 3 (comment). See likewise Perriello, Tr. at 149 (listing a number of functions of property sites, including property pictures, virtual tours, abundant text, mapping performance, and community info); Sambrotto, Tr.
You can post color pictures. You can post virtual trips. And you can have that information quickly searched and often 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 note 4, at 37. In the majority of states, there exists a single licensing board. Further, NAR membership is required for all representatives and brokers that come from the huge bulk 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 amount of time that realtors devote to prospecting and farming relative to really offering a house or discovering an appropriate home for a buyer increases as the market ends up being a growing number of competitive, that is, as more real estate agents are chasing the same variety of consumers").
Id. at 1089 (" the cost of discovering a client increases with the number of realtors in the market, without necessarily generating fringe benefits to the consumer"). 222. These data originate from the "total house selling cost" field in the Bureau of Labor Statistics' yearly Consumer Expenditure Survey from 1980-1990. This field also consists of selling expenditures aside from commissions, like closing costs and attorneys fees, so it is 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 revealed proof of entry as a result of the current housing market boom, as well as proof that NAR membership has actually varied straight with housing rates officer byrd and felicia for at least the previous 20 years.
226. According to REAL Trends data, the number 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 Comment 208, at 12. 228. Yun, Tr. at 225. See conversation in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty company is why does there seem to be this relatively fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure many individuals today have pointed out, the puzzle is why the percentage commission has been so stubbornly relentless."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent harmony of commission rates presents an enormous puzzle, specifically if one believes that the expense and effort needed to offer a home do not increase one to one with the price of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted typical list prices of new and current homes in 2005($ 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 resistance from federal antitrust laws must show that its actions are (1) pursuant to a clearly articulated state policy deliberately displacing timeshare professionals competition with an alternative regulative scheme and (2) actively monitored by the state or a competent federal government firm or authorities).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (evaluating state action resistance 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 directly that of the legislature or supreme court, but is carried out by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.