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UK: CMA takes on collusive estate agents

 |  December 10, 2014

The UK’s Competition and Markets Authority has reportedly issued a statement of objections to three estate agencies suspected of violating competition rules.

Reports say Waterfords, Castles Property and Hamptons Estates have all been notified as part of the CMA’s investigation. The companies are alleged to have conspired not to publish their fees or discounts in a local newspaper.

Waterfords and Hamptons are also suspected of expanding this agreement to include another newspaper.

According to CMA, the collusion could have strengthened barriers to market entry, though the agency clarified that the findings in the case are only preliminary.

Full content: Insider Media

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