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 websites consist of: ForSaleByOwner. com, http://www. forsalebyowner.com (last checked out April 20, 2007); FSBO.com, http://www. fsbo.com (last gone to April 20, 2007); craigslist. org, http://sfbay.
com, http://www. homesbyowner.com (last gone to April 20, 2007). See Thorburn, Tr - how long does it take to get your real estate license. how to become a real estate developer. 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 model). 94. Henderson, Tr. at 154. 95. Id. at 155 - how to invest in real estate with no money. 96. This support can consist of: finding and scheduling examination of homes by potential buyers; supplying prospective buyers with details such as relative residential or commercial property values and latest selling costs; assisting in the settlement procedure; and assisting 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 (keeping in mind that all standard 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 to become a real estate broker in california).com (last visited 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 gone to April 20, 2007). 111. See, e. g., Zillow. com, http://www. zillow.com (last checked out 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 research online not only houses for sale, but likewise the whole buying and offering process). 114. American Bankers Association, Public Remark 10, at 3 (comment). See likewise Perriello, Tr. at 149 (listing several functions of realty sites, consisting of residential or commercial property pictures, virtual trips, how do i cancel my llc rich text, mapping performance, and neighborhood information); Sambrotto, Tr.
You can publish color pictures. You can post virtual tours. And you can have that info quickly browsed and regularly searched by purchasers 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 many states, there exists a single licensing board. Even more, NAR membership is needed for all agents and brokers that belong to the huge bulk of MLSs in the United States. Such entities are likely to gain economically 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 amount of time that real estate agents commit to prospecting and farming relative to in fact offering a home or discovering an appropriate house for a buyer increases as the market becomes a growing number of competitive, that is, as more real estate agents are chasing after the very same number of customers").
Id. at 1089 (" the cost of finding a consumer increases with the number of real estate agents in the market, without necessarily creating fringe benefits to the consumer"). 222. These data come from the "total home selling cost" field in the Bureau of Labor Statistics' yearly Consumer Expenditure Study from 1980-1990. This field likewise consists of selling expenses besides commissions, like closing expenses and lawyers charges, 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 how to get rid of your timeshare without paying fees recent housing market boom, along with evidence that NAR membership has varied directly with real estate rates for at least the past twenty years.
226. According to REAL Trends data, the number 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 Remark 208, at 12. 228. Yun, Tr. at 225. See discussion in Hsieh & Moretti, supra note 139, at 1116 (estimating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the realty company is why does there seem to be this reasonably fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make sure many people today have actually mentioned, the puzzle is why the percentage commission has been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The apparent harmony of commission rates presents a massive puzzle, especially if one believes that the expense and effort required to offer a home do not increase one to one with the cost of real estate.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. disadvantages of timeshare tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based on weighted typical prices of brand-new and existing homes in 2005($ 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 get $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 show that its actions are (1) pursuant to a plainly articulated state policy purposefully displacing competitors with an alternative regulatory plan and (2) actively monitored by the state or a certified government company or official).
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, but is performed by others pursuant to state permissions."); Southern Motor Carriers Rate Conference v.