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 include: ForSaleByOwner. com, http://www. forsalebyowner.com (last visited April 20, 2007); FSBO.com, http://www. fsbo.com (last visited 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 broker in california. what is noi in real estate. at 97-98 (keeping in mind the variety of tools offered 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 - how to become a real estate agent in illinois. 96. This help can consist of: finding and scheduling examination of homes by prospective purchasers; providing potential buyers with information such as relative property values and latest asking price; assisting in the negotiation procedure; 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 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 traditional 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 checked out April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to make money 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 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 also Whatley, Tr. at 160-61 (noting that customers now may investigate online not only homes for sale, but likewise the entire purchasing and offering process). 114. American Bankers Association, Public Remark 10, at 3 (remark). See likewise Perriello, Tr. at 149 (listing several functions of property websites, including property photos, virtual trips, rich text, mapping performance, and area details); Sambrotto, Tr.
You can publish color images. You can publish virtual tours. And you can have that details easily searched and frequently browsed by buyers from their own homes 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 huge majority of MLSs in the United States. Such entities are likely to acquire 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 quantity of time that real estate agents dedicate to prospecting and farming relative to really selling a home or finding a proper house for a buyer increases as the marketplace becomes increasingly more competitive, that is, as more realtors are chasing the very same variety of customers").
Id. at 1089 (" the cost of finding a customer increases with the number of real estate agents in the market, without necessarily creating fringe benefits to the consumer"). 222. These information come from the "total home selling cost" field in the Bureau of Labor Stats' yearly Consumer Expenditure Study from 1980-1990. This field also includes selling expenditures aside from commissions, like closing costs 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 proof of entry as a result of the current real estate market boom, along with proof that NAR subscription has actually differed directly with housing prices for a minimum of http://marcoonyv593.lucialpiazzale.com/the-ultimate-guide-to-how-much-does-real-estate-agents-make the past twenty years.
226. According to REAL Trends information, the variety of deal 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 Remark 208, at 12. 228. Yun, Tr. at 225. See conversation in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty organization Go to the website is why does there appear to be this relatively fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure many individuals today have actually pointed out, the puzzle is why the percentage commission has actually been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The obvious uniformity of commission rates presents a huge puzzle, specifically if one thinks that the time share exit team cost expense and effort necessary to sell a home do not increase one to one with the rate of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted typical prices of new and existing homes in 2005($ 271,263), the purchaser'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 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 plainly articulated state policy purposefully displacing competitors 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 required when the activity at concern is not directly that of the legislature or supreme court, but is performed by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.