ZB ZB
Opinion
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Real estate agencies accused of price fixing

Author
Newstalk ZB Staff ,
Publish Date
Thu, 17 Dec 2015, 9:51am
(Edward Swift)
(Edward Swift)

Real estate agencies accused of price fixing

Author
Newstalk ZB Staff ,
Publish Date
Thu, 17 Dec 2015, 9:51am

UPDATED 12.19pm: Five major real estate agencies are among those being taken to court for alleged price fixing and anti-competitive behaviour.

The Commerce Commission has filed proceedings in the High Court at Auckland against 13 national and regional real estate agencies, a company owned by a number of national real estate agencies, and three individuals.

It has also issued warnings to an additional eight agencies for their role.

The proceedings relate to alleged conduct in 2013 and 2014 by the head offices of Barfoot and Thompson, Harcourts Group, LJ Hooker New Zealand, Ray White and Bayleys, and separately by agencies in Hamilton and Manawatu.

Bayleys says the matter is currently before the courts so the company is unable to comment any further.

The alleged conduct occurred in response to Trade Me’s change from a monthly subscription fee to a per-listing fee for properties advertised for sale on its website.

The commission has agreed settlements in principle involving admissions and payment of a court-imposed penalty by two of the parties. 

Take your Radio, Podcasts and Music with you