A-00-CA-154JN, 2000 WL 34239114, at * 2 (W.D. Tex. Mar. 30, 2000). 87. DelBianco, Tr. at 182. 88. Id. http://holdenjkyv162.raidersfanteamshop.com/how-long-does-it-take-to-become-a-real-estate-agent-for-dummies 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 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 choose a real estate agent. how to get a real estate license in ca. at 97-98 (keeping in mind the variety of tools 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 business design). 94. Henderson, Tr. at 154. 95. Id. at 155 - what does arv mean in real estate. 96. This help can include: locating and setting up for inspection of properties by potential purchasers; supplying potential buyers with information such as relative home values and latest market price; assisting in the settlement procedure; and assisting to schedule and prepare 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 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 (noting that all standard companies "have a considerable online existence"). 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 checked out April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to become a real estate broker in california).com (last checked out 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 Remark 311, at 1.
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Perriello, Tr. at 149. See likewise Whatley, Tr. at 160-61 (noting that consumers now might look into online not only houses 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 several functions of property websites, including home photos, virtual tours, abundant text, mapping performance, and neighborhood info); Sambrotto, Tr.
You can publish color images. You can publish virtual tours. And you can have that information quickly browsed and often searched by purchasers 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 subscription is needed for all agents and brokers that belong to the huge bulk of MLSs in the United States. Such entities are most 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 quantity of time that realtors devote to prospecting and farming relative to actually selling a house or finding a proper house for a purchaser increases as the marketplace becomes a growing number of competitive, that is, as more realtors are chasing the exact same variety of consumers").
Id. at 1089 (" the cost of discovering a client increases with the number of realtors in the market, without necessarily producing extra benefits to the consumer"). 222. These timeshare cancel data come from the "overall home offering expense" field in the Bureau of Labor Statistics' annual Customer Expense Survey from 1980-1990. This field likewise consists of selling costs besides commissions, like closing costs and lawyers 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 an outcome of the recent housing market boom, as well as proof that NAR membership has differed straight with housing prices for at least the past twenty years.
226. According to REAL Trends information, the variety of transaction 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 Remark 208, at 12. 228. Yun, Tr. at 225. See discussion in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the real estate organization is why does there appear to be this relatively repaired commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I'm sure many people today have explained, the puzzle is why the portion commission has actually been so stubbornly consistent."); Hsieh & Moretti, supra note 139, at 1086 (" The obvious harmony of commission rates presents a huge puzzle, specifically if one thinks that the expense and effort required to sell a house do not increase one to one with the cost of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based Learn more upon weighted typical prices of new and current homes in 2005($ 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 receive $3,459.
242. See, e. g., California Retail Liquor Dealers Ass 'n v. Midcal Aluminum, Inc., 445 U.S. 97, 105 (1980) (entity claiming state action resistance from federal antitrust laws must demonstrate that its actions are (1) pursuant to a plainly articulated state policy purposefully displacing competitors with an alternative regulatory scheme and (2) actively supervised by the state or a qualified government firm or official).
2003), readily available at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (evaluating state action immunity doctrine). 243. See, e. g., Hoover v. Ronwin, 466 U.S. 558, 568 (1984) (" Closer analysis is required when the activity at issue is not straight that of the legislature or supreme court, but is carried out by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.