Two Hamilton real estate agencies have been ordered by the High Court at Auckland to pay a total of $4 million for price-fixing. Lodge Real Estate has to pay $2.1 million and Monarch Real Estate Ltd has to pay $1.9 million for engaging in price-fixing, which breaches the Commerce Act, the Commerce Commission said on Thursday. A number of Hamilton real estate agencies met to discuss their responses. READ MORE:* Real estate agents lose price-fixing battle in Supreme Court* Court of Appeal backs Commerce Commission in real estate price-fixing claim saga* Commerce Commission to pay $280,000 over price-fixing caseThe saga began in 2013, when Trade Me put up its online property listing prices. TOM LEE/STUFF/Waikato Times A number of Hamilton real estate agencies met to discuss their responses to the price increase.

Source: Stuff September 09, 2020 21:57 UTC