The Commerce Commission and Bayleys have agreed the real estate firm should pay a $2.2 million penalty after it admitted being part of an alleged price-fixing deal with four of its major competitors.
Bayleys is one of a group of real estate agencies facing legal action over what the commission alleges is anti-competitive behaviour.
The competition regulator has also launched proceedings against Barfoot and Thompson, Harcourts , LJ Hooker, and Ray White. The alleged price-fixing occurred in response to Trade Me’s 2014 change from a monthly subscription to a per-listing fee for properties advertised on its website.
READ MORE VIA NZHERALD