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 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 - what is earnest money in real estate. how to make money in real estate with no money. at 97-98 (keeping in mind the variety 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. wesley company Supp. 2d 868, 870-71 (E.D. Cal.
com company design). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to start real estate investing. 96. This help can consist of: locating and scheduling examination of properties by prospective purchasers; supplying prospective buyers with information such as relative residential or commercial property worths and most recent selling costs; assisting in the settlement process; and assisting to schedule and get ready for closing of the deal.
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Henderson, Tr. at 156-57. 98. NAR 2006 STUDY, supra note 4, at 77. 99. Id. at https://diigo.com/0o0n6b 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 standard companies "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 visited April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to choose a real estate agent).com (last gone to 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 checked out 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 consumers now may look into online not just homes for sale, however likewise the whole buying and selling procedure). 114. American Bankers Association, Public Comment 10, at 3 (remark). See likewise Perriello, Tr. at 149 (listing a number of features of genuine estate sites, including home images, virtual tours, abundant text, mapping functionality, and community info); Sambrotto, Tr.
You can publish color images. You can post virtual tours. And you can have that information easily browsed and often searched by buyers 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 most states, there exists a single licensing board. Even more, NAR subscription is required for all representatives and brokers that belong to the vast bulk of MLSs in the United States. Such entities are most likely to acquire economically from increased what is a timeshare entry into the brokerage market. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is fixed, the quantity of time that real estate agents devote to prospecting and farming relative to actually selling a house or discovering a suitable house for a purchaser increases as the marketplace becomes increasingly more competitive, that is, as more realtors are chasing after the exact same number of consumers").
Id. at 1089 (" the expense of discovering a consumer increases with the number of real estate agents in the market, without always creating additional benefits to the customer"). 222. These information come from the "overall home offering expense" field in the Bureau of Labor Statistics' annual Consumer Expenditure Study from 1980-1990. This field likewise includes selling expenses other than commissions, like closing costs and attorneys fees, so it is most likely to overstate the actual 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 recent real estate market boom, in addition to proof that NAR membership has actually differed directly with real estate prices for at least the past twenty 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 Comment 208, at 12. 228. Yun, Tr. at 225. See discussion in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the real estate business is why does there appear to be this fairly repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure lots of individuals today have actually explained, the puzzle is why the portion commission has actually been so stubbornly consistent."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent uniformity of commission rates provides a huge puzzle, specifically if one believes that the expense and effort required to offer a house do not increase one to one with the rate of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average list prices of new and existing houses in 2005($ 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 U.S. 97, 105 (1980) (entity declaring state action immunity from federal antitrust laws need to show that its actions are (1) pursuant to a clearly articulated state policy deliberately displacing competition with an alternative regulative plan and (2) actively supervised by the state or a qualified government company or official).
2003), 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 problem is not directly that of the legislature or supreme court, however is brought out by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.