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 visited April 20, 2007). See Thorburn, Tr - how to start real estate investing. how to invest in commercial real estate. at 97-98 (keeping in mind the range of tools offered to FSBOs). See likewise GAO REPORT, supra note 3, at 20. 92. Sambrotto, Tr. at More helpful hints 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 is the difference between a real estate agent and a broker. 96. This support can include: finding and scheduling assessment of homes by prospective purchasers; offering potential purchasers with details such as relative property values and newest selling rates; helping in the settlement 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; Nadel, supra note 25, at 4-5. 102. See Perriello, Tr.
at 174 (keeping in mind that all conventional companies "have a considerable 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 gone to April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (what are the requirements to be a real estate appraiser).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 visited April 20, 2007). 111. See, e. g., Zillow. com, http://www. zillow.com (last visited 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 consumers now might research online not just houses for sale, however also the whole purchasing and offering procedure). 114. American Bankers Association, Public Remark 10, at 3 (remark). See likewise Perriello, Tr. at 149 (listing a number of functions of property websites, including residential or commercial property pictures, virtual tours, rich text, mapping performance, and neighborhood information); Sambrotto, Tr.
You can publish color pictures. You can publish virtual tours. And you can have that details quickly searched and often browsed by buyers 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 most states, there exists a single licensing board. Further, NAR membership is required for all agents and brokers that belong to the huge majority of timeshare cancellation industry MLSs in the United States. Such entities are most likely to gain economically 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 real estate agents commit to prospecting and farming relative to in fact offering a home or finding a suitable house for a buyer increases as the marketplace ends up being a growing number of competitive, that is, as more real estate agents are chasing after the exact same number of consumers").
Id. at 1089 (" the expense of finding a client increases with the number of real estate agents in the market, without necessarily creating additional advantages to the customer"). 222. These data come from the "overall home selling expenditure" field in the Bureau of Labor Data' yearly Consumer Expense Survey from 1980-1990. This field also consists of selling expenditures other than commissions, like closing costs and attorneys charges, 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 an outcome of the recent real estate market boom, as well as evidence that NAR membership has varied straight with real estate prices for a minimum of the previous twenty years.
226. According to REAL Trends information, the number of transaction sides per agent 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 discussion in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty service is why does there seem to be this reasonably fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure lots of people today have pointed out, the puzzle is why the portion commission has been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The evident uniformity of commission rates provides a massive puzzle, especially if one believes that the expense and effort needed to sell a home do not increase one to one with the cost of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted average prices of brand-new and current houses in 2005($ 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 Alcohol Dealers Ass 'n v. Midcal Aluminum, Inc., 445 http://edwinwbzg407.huicopper.com/how-to-become-a-real-estate-broker-fundamentals-explained U.S. 97, 105 (1980) (entity declaring state action resistance from federal antitrust laws need to show that its actions are (1) pursuant to a plainly articulated state policy intentionally displacing competition with an alternative regulative scheme and (2) actively monitored by the state or a certified government firm or official).
2003), readily available 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, but is brought out by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.