A-00-CA-154JN, 2000 WL 34239114, at * 2 (W.D. Tex. Mar. 30, 2000). 87. DelBianco, Visit the website Tr. at 182. 88. Id. 89. Id. 90. Id. at 186. 91. Examples of FSBO websites consist of: 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 long does it take to get a real estate license. what is emd in 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 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 get a real estate license in texas. 96. This help can include: finding and scheduling assessment of residential or commercial properties by potential purchasers; offering prospective buyers with information such as relative property worths and newest market price; helping in the negotiation procedure; 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 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 conventional business "have a significant 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 generate leads in real estate).com (last visited April http://marcoonyv593.lucialpiazzale.com/the-ultimate-guide-to-how-much-does-real-estate-agents-make 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 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 (noting that consumers now might investigate online not only houses for sale, but also the whole buying and offering process). 114. American Bankers Association, Public Remark 10, at 3 (comment). See likewise Perriello, Tr. at 149 (listing numerous features of property sites, consisting of property photos, virtual trips, abundant text, mapping functionality, and neighborhood details); 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 homes on the [I] nternet."). 115. DelBianco, Tr. at 185. 116. NAR 2005 STUDY, supra note 38, at 29. 117. NAR 2006 SURVEY, supra note 4, at 37. In most states, there exists a single licensing board. Even more, NAR subscription is needed for all agents and brokers that belong to the large majority of MLSs in the United States. Such entities are most likely to gain financially from increased entry into the brokerage market. 220. See Hsieh & Moretti, supra note 139, at 1089 (" as long as the commission rate is repaired, the quantity of time that realtors devote to prospecting and farming relative to in fact offering a house or discovering a suitable home for a purchaser increases as the market becomes more and more competitive, that is, as more realtors are chasing the exact same number of consumers").
Id. at 1089 (" the expense of finding a client increases with the variety of realtors in the market, without necessarily creating fringe benefits to the customer"). 222. These information originate from the "overall house offering expenditure" field in the Bureau of Labor Stats' annual Consumer Expense Survey from 1980-1990. This field likewise consists of selling costs other than commissions, like closing expenses and lawyers costs, so it is 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 of the recent housing market boom, along with proof that NAR subscription has differed directly with real estate prices for a minimum of the past twenty years.
226. According to REAL Trends information, the variety of transaction 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 Comment 208, at 12. 228. Yun, Tr. at 225. See discussion in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty service is why does there seem to be this relatively fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make sure many people today have explained, the puzzle is why the percentage commission has been so stubbornly relentless."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent harmony of commission rates provides an enormous puzzle, specifically if one believes that the cost and effort needed to sell a house do not increase one to one with the price of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted average prices of brand-new and existing houses in 2005($ 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 resistance from federal antitrust laws should show that its actions are (1) pursuant to a plainly articulated state policy purposefully displacing competition with an alternative regulatory scheme and (2) actively supervised by the state or a qualified government firm or authorities).
2003), readily available at http://www. ftc.gov/ os/2003/09/ stateactionreport. pdf (evaluating 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 issue is not directly that of the legislature or supreme court, however is carried out by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.