Two Hamilton real estate agencies have been fined four-million dollars for price fixing - the last of a group of agencies collectively fined nearly 23-million dollars
Two Hamilton real estate agencies have been fined four-million dollars for price fixing - the last of a group of agencies collectively fined nearly 23-million dollars
10 September 2020
The High Court in Auckland has found Lodge Real Estate and Monarch Real Estate breached the Commerce Act.
It's the end of a five-year court battle against what the Commerce Commission called a cartel of real estate agencies.
The group met in 2013 to discuss a hike in Trade Me's online property listing prices - and agreed to pass on the costs.
Proceedings were filed against 13 agencies and three individuals by the Commerce Commission two years later.
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