A-00-CA-154JN, 2000 WL 34239114, at * 2 (W.D. Tex. Mar. 30, 2000). 87. DelBianco, Tr. at 182. 88. Id. https://quinus8odh.doodlekit.com/blog/entry/20559890/the-main-principles-of-what-do-real-estate-agents-make 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 visited April 20, 2007). See Thorburn, Tr - how to become a commercial real estate agent. what is an encumbrance 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 organization design). 94. Henderson, Tr. at 154. 95. mytimeshareexpert Id. at 155 - what is a cma in real estate. 96. This support can consist of: locating and setting up for assessment of homes by prospective buyers; supplying prospective buyers with information such as relative property worths and newest market price; assisting in the settlement process; and helping to schedule and prepare for closing of the deal.
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Henderson, Tr. at 156-57. 98. NAR 2006 SURVEY, 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 traditional companies "have a substantial 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 gone to April 20, 2007); FSBO.com, http://www.
com, http://www. homesbyowner (how to become a real estate broker in florida).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., Continue reading 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 (keeping in mind that customers now may investigate online not only homes for sale, however likewise the whole purchasing and selling procedure). 114. American Bankers Association, Public Remark 10, at 3 (remark). See likewise Perriello, Tr. at 149 (listing several features of property sites, including residential or commercial property photos, virtual trips, abundant text, mapping performance, and neighborhood info); Sambrotto, Tr.
You can post color images. You can publish virtual tours. And you can have that details quickly searched and frequently 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 a lot of states, there exists a single licensing board. Further, NAR membership is needed for all agents and brokers that come from the vast 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 repaired, the quantity of time that realtors commit to prospecting and farming relative to really offering a home or finding a suitable house for a purchaser increases as the marketplace ends up being a growing number of competitive, that is, as more real estate agents are chasing the exact same variety of consumers").
Id. at 1089 (" the cost of finding a consumer increases with the variety of real estate agents in the market, without always generating additional advantages to the customer"). 222. These information originate from the "total house selling expenditure" field in the Bureau of Labor Data' yearly Customer Expenditure Survey from 1980-1990. This field also consists of selling costs besides commissions, like closing expenses and lawyers fees, so it is most likely to overemphasize 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 showed proof of entry as an outcome of the recent housing market boom, in addition to evidence that NAR subscription 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 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 conversation in Hsieh & Moretti, supra note 139, at 1116 (approximating $1.
2 billion social waste arising from excess entry in 1990). 229. See Hsieh, Tr. at 233 (" [T] he real puzzle in the property business is why does there appear to be this reasonably fixed commission structure?"); Salinger, Tr. at 248 (" [A] s Dr. Hsieh and I make sure lots of people today have explained, the puzzle is why the portion commission has actually been so stubbornly persistent."); Hsieh & Moretti, supra note 139, at 1086 (" The obvious uniformity of commission rates presents an enormous puzzle, specifically if one believes that the cost and effort needed to offer a house do not increase one to one with the cost of housing.
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230. ALA. CODE 34-27-36 (1975 ). 231. ALASKA STAT. 08. 88.401 (Michie 2005). 232. KAN. STAT. ANN. 58-3062 (2006 ). 233. LA. REV. STAT. ANN. 37:1455 (West 2006 ). 234. MISS. CODE ANN. 73-35-21 (2006 ). 235. MO. REV. STAT. 339. 150( 2006). 236. N.J. STAT. ANN. 45:15 -3. 1 (West 2006). 237. N.D. CENT. 1( 2006). 238. OKLA. STAT. ANN. tit. 59, 858-312 (West 2006). 239. OR. REV. STAT. 696. 290( 2005). 240. IOWA CODE 543B.60 A( 2005 ). 241. Based upon weighted average list prices of brand-new and existing houses in 2005($ 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 receive $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 need to show that its actions are (1) pursuant to a clearly articulated state policy purposefully displacing competition with an alternative regulative scheme and (2) actively supervised by the state or a certified federal government firm or authorities).
2003), 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 problem is not directly that of the legislature or supreme court, however is performed by others pursuant to state authorizations."); Southern Motor Carriers Rate Conference v.