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NZ: $1.25 million price fixing penalty for real estate agency

By  |  November 30, 2016

A second Palmerston North real estate agency has been hit with a $1.25 million penalty for being part of a region-wide price fixing agreement.

LJ Hooker’s Palmerston North branch was one of 13 national and regional real estate agencies that allegedly agreed to pass on the cost of Trade Me listings to property sellers.

Earlier this year Unique Realty, also of Palmerston North, was ordered to pay the same amount for its involvement in what the judge at the time described as “the Manawatu agreement”.

Hamilton-based Success Realty and Bayleys have also settled in cases relating to the same agreement.

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