The Commerce Commission has pressed charges against 13 real estate agencies across the country after allegations of price-fixing and anti-competitive behaviour.
The Commerce Commission today announced the proceedings against the head offices of Barfoot and Thompson Limited, Harcourts Group Limited, LJ Hooker New Zealand Limited, Ray White (Real Estate) Limited and Bayley Corporation Limited, The New Zealand Herald reports.
The court proceedings relate to alleged conduct in 2013 and 2014.
The alleged conduct occurred in response to Trade Me's change from a monthly subscription fee to a per-listing fee for properties advertised for sale on its website, according to The Herald.
The real estate agencies breached the Commerce Act by agreeing to a planned industry response to Trade Me's changed pricing model, the Commerce Commission are alleging.
The parties allegedly agreed that vendors would have to pay the listing fee to have their property advertised on Trade Me, and that the agencies would not commit to any preferential or discounted listing fees with Trade Me.
The Herald says Bayleys has agreed a settlement in principle with the commission.
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