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UK: Four estate agents fined for illegal price-fixing cartel

By  |  March 2, 2017

After admitting to illegal price-fixing four real estate agents have been fined more than £370,000 by the Competition and Markets Authority.

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    The CMA says firms were charged with colluding to set minimum commission rates for residential property sales at 1.5 per cent. This then denied local home-owners selling their houses the chance of getting a better deal. The

    CMA cartel enforcement senior director Stephen Blake says: “Moving home is expensive and this shouldn’t be made worse by estate agents conspiring to deny their customers the best possible deal, by agreeing not to compete on fees.

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