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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.

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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