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 visited April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last visited April 20, 2007). See Thorburn, Tr - what is the difference between a real estate agent and a broker. what does arv mean in real estate. at 97-98 (keeping in mind the variety 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 service design). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to become real estate agent. 96. This assistance can include: finding and organizing for assessment of homes by prospective buyers; providing prospective buyers with details such as relative residential or commercial property worths and newest asking price; helping in the negotiation process; and helping 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 (keeping in mind that all conventional business "have a substantial 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 (how much do real estate agents make a year).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 visited 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 may investigate online not only homes for sale, however likewise the entire buying and offering procedure). 114. American Bankers Association, Public Comment 10, at 3 (comment). Click for source See also Perriello, Tr. at 149 (listing a number of functions of realty sites, consisting of residential or commercial property pictures, virtual trips, abundant text, mapping performance, and area info); Sambrotto, Tr.
You can post color pictures. You can post virtual tours. And you can have that details quickly browsed and regularly searched 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 a lot of states, there exists a single licensing board. Further, NAR subscription is required for all agents and brokers that come from the huge bulk of MLSs in the United States. Such entities are likely to acquire financially from increased entry into the brokerage market. 220. See Hsieh & Moretti, supra note 139, at https://www.taringa.net/voadilysfd/the-single-strategy-to-use-for-how-to-become-a-real-estate-agent-in-or_51tkrc 1089 (" as long as the commission rate is fixed, the quantity of time that real estate agents dedicate to prospecting and farming relative to actually selling a house or discovering a suitable home for a purchaser increases as the marketplace becomes a growing number of competitive, that is, as more real estate agents are chasing the very same number of clients").
Id. at 1089 (" the expense of discovering a customer increases with the number of realtors in the market, without necessarily creating additional benefits to the customer"). 222. These information originate from the "total house offering expenditure" field in the Bureau of Labor Data' annual Customer Expense Study from 1980-1990. This field also includes selling expenditures other than commissions, like closing expenses and lawyers 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 showed evidence of entry as a result how do i cancel my llc of the recent real estate market boom, as well as evidence that NAR membership has actually varied straight with real estate prices for a minimum of the past twenty years.
226. According to REAL Trends information, 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 discussion in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste resulting from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the genuine estate service is why does there appear to be this fairly fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make certain numerous individuals today have pointed out, the puzzle is why the portion commission has actually been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent uniformity of commission rates presents a huge puzzle, particularly if one thinks that the expense and effort essential to sell a house do not increase one to one with the rate of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average prices of new and current homes in 2005($ 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 need to demonstrate that its actions are (1) pursuant to a clearly articulated state policy purposefully displacing competition with an alternative regulative plan and (2) actively monitored by the state or a qualified federal government firm or authorities).
2003), available at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (analyzing 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 problem is not directly that of the legislature or supreme court, however is performed by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.