PHOTO: CHRISTEL YARDLEY/FAIRFAX NZ – Lodge director Jeremy O’Rourke opted to fight the Commerce Commission in court.
The Court of Appeal has overturned a High Court decision that would have required the Commerce Commission to pay $280,000 to real estate agents it accused of price fixing.
The Commerce Commission took action against real estate agencies across the country, after Trade Me put up its prices in 2013.
A number of agencies met to discuss a plan to put their listings on Realestate.co.nz instead. The commission said they were price-fixing when they all agreed to charge vendors who wanted to list on Trade Me.
Eleven regional and national real estate agencies negotiated settlements with the Commerce Commission and paid nearly $20 million in fines.
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