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New Zealand: Realtor hit by $1.25M price fixing fine

By  |  May 22, 2016

A judge has ordered a Manawatu real estate agency to pay $1.25 million for price fixing over advertising.

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    The Commerce Commission says Unique Realty is the first of 13 national and regional agencies dealt with over accusations involving three separate price fixing and anti-competitive agreements.

    Unique Realty admitted agreeing with another Manawatu agency and an individual that they would force property owners to pay for advertising on Trade Me.

    A penalty hearing in the High Court in Auckland heard Unique asked vendors to pay the $159 fee for online listings, or risk reducing the chances of their properties being viewed.

    Full Content: RNZ

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