Real estate agency Unique Realty ordered to pay $1.25 mln

  • May 20 (BusinessDesk) – Manawatu real estate agency Unique Realty has been ordered to pay $1.25 million by the High Court in Auckland for fixing prices in the first of 13 agencies set to appear in court over the ring.

Justice Geoffrey Venning ordered the penalty in the High Court today after Unique reached a settlement with the Commerce Commission, admitting it breached the Commerce Act by fixing prices, the regulator said in a statement. The commission filed proceedings against the realtors in December, saying the firms fixed prices in 2013 and 2014 in response to Trade Me changing from a monthly subscription fee to a per-listing fee for properties advertised for sale among national, Hamilton and Manawatu agencies.

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