Spain: Watchdog probes anti-competitive practices in the real estate market

The CNMC (National Commission on Markets and Competition) is investigating potential anti-competitive practices consisting of practices intended to directly or indirectly fix prices and other commercial conditions involving real estate brokerage, as well as the exchange of commercially sensitive information.

On November 18, 19, and 20, inspections were conducted at the offices of several companies that operate in this market. These inspections are part of the investigation opened by the CNMC after becoming aware of the possible existence of anti-competitive practices.

Certain companies and associations in the real estate brokerage sector operating at the national, regional and local levels are suspected of having carried out said practices in relation to the direct or indirect fixing of commissions for the sale and rental of real estate and other commercial conditions involving real estate brokerage, as well as the exchange of commercially sensitive information. Also alleged to have been involved in the behaviour in question are companies engaged in the national market for software and computer solutions, primarily those intended for real estate brokerage. 

In particular, the CNMC is investigating if the design of certain real estate software and its algorithms could have made it easier to implement and maintain this direct or indirect fixing of commissions and commercial conditions.

Full Content: CNMC

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