Manawatu companies caught up in real estate investigation

Three Manawatu real estate firms and a prominent agent are facing prosecution for alleged anti-competitive behaviour and price-fixing.

The Commerce Commision is prosecuting 13 companies in New Zealand after an investigation showed some may have illegally discouraged their clients from advertising properties on Trade Me.

The commission said the estate agents colluded to pass on – or make home-sellers directly pay – Trade Me listing fees in full, without taking any available discounts. It said this amounted to “price-fixing and anti-competitive behaviour”.

TM

WARWICK SMITH/FAIRFAX NZ

Property Brokers founder Tim Mordaunt faces court action over alleged real estate price collusion.

 

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