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Estate agents warned they could be breaking competition law

Posted: 18th May 2016   In: Corporate Commercial

Estate agents have been warned that they could be breaking the law if they reach agreement with rival firms about which websites to use for property listings.

The Competition and Markets Authority (CMA) has contacted some agents it suspects may already be in breach and has written an open letter to alert others to the potential problem.

Ann Pope, CMA Senior Director, Antitrust, said: “The online portals on which properties are listed is an important aspect of competition between estate agents and the choice of portal must be decided independently and not agreed with competitors.

“Estate agents that are found to be breaking competition law in this way could face significant fines.”

The CMA open letter highlights three points about competition law and the potential consequences of breaking it:

Please contact Jon Alvarez if you would like more information about the issues raised in this article or any aspect of business regulation.

Posted by: Jon Alvarez
Corporate Commercial
Luton Office