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 visited April 20, 2007); FSBO.com, http://www. fsbo.com (last visited April 20, 2007); Check out the post right here craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last gone to April 20, 2007). See Thorburn, Tr - what is the difference between a real estate agent and a broker. how long does it take to get a real estate license. at 97-98 (keeping in mind the range of tools available to FSBOs). See also 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 business design). 94. Henderson, Tr. at 154. 95. Id. at 155 - what does under contract mean in real estate. 96. This support can include: finding and arranging for assessment of residential or commercial properties by prospective buyers; providing prospective purchasers with info such as relative residential or commercial property values and newest asking price; helping in the settlement process; and helping to schedule and prepare 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; Nadel, supra note 25, at 4-5. 102. See Perriello, Tr.
at 174 (keeping in mind that all standard business "have a significant online presence"). 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., nashville grand prix tickets ForSaleByOwner. com, http://www. forsalebyowner.com (last checked out April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to start real estate investing).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 gone to 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 likewise Whatley, Tr. at 160-61 (noting that customers now might look into online not just houses for sale, but likewise the whole buying and selling process). 114. American Bankers Association, Public Remark 10, at 3 (comment). See also Perriello, Tr. at 149 (listing a number of features of real estate websites, consisting of residential or commercial property pictures, virtual trips, rich text, mapping functionality, and neighborhood information); Sambrotto, Tr.
You can publish color pictures. You can publish virtual trips. And you can have that details quickly browsed and regularly searched by buyers 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 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 large majority of MLSs in the United States. Such entities are likely to get financially from increased entry into the brokerage industry. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is fixed, the amount of time that real estate agents devote to prospecting and farming relative to in fact offering a home or discovering a proper home for a purchaser increases as the market becomes a growing number of competitive, that is, as more real estate agents are chasing after the very same number of clients").
Id. at 1089 (" the cost of discovering a consumer increases with the number of realtors in the market, without always producing fringe benefits to the customer"). 222. These information originate from the "overall home offering expenditure" field in the Bureau of Labor Data' yearly Customer Expenditure Survey from 1980-1990. This field likewise consists of selling expenditures other than commissions, like closing expenses and lawyers costs, so it is 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 proof of entry as an outcome of the current real estate market boom, as well as evidence that NAR subscription has varied directly with real estate rates for a minimum of the previous 20 years.
226. According to REAL Trends data, the number 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 Remark 208, at 12. 228. Yun, Tr. at 225. See conversation in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the real estate business is why does there appear to be this fairly fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain many individuals today have pointed out, the puzzle is why the percentage commission has actually been so stubbornly consistent."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent uniformity of commission rates provides a huge puzzle, specifically if one believes that the expense and effort necessary to offer a house do not increase one to one with the cost of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted typical prices of brand-new and existing houses in 2005($ 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 get $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 resistance from federal antitrust laws need to demonstrate that its actions are (1) pursuant to a clearly articulated state policy purposefully displacing competition with an alternative regulatory plan and (2) actively supervised by the state or a certified federal government firm or official).
2003), offered at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (analyzing state action immunity teaching). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is required when the activity https://penzu.com/p/f6bf69e5 at problem is not straight that of the legislature or supreme court, but is performed by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.