The six agents in Burnham-on-Sea, Somerset, were fined for breaking competition law by fixing minimum commission rates at 1.5% A group of estate agents who secretly conspired to keep their fees high to make "as much profit as possible" have been fined £370,000 for operating an illegal cartel. The Competition and Markets Authority (CMA) said this was the second time in two-and-a-half years that it had taken enforcement action against estate agents, and this latest case raised concerns that the s...
The six agents in Burnham-on-Sea, Somerset, were fined for breaking competition law by fixing minimum commission rates at 1.5% A group of estate agents who secretly conspired to keep their fees high to make "as much profit as possible" have been fined £370,000 for operating an illegal cartel. The Competition and Markets Authority (CMA) said this was the second time in two-and-a-half years that it had taken enforcement action against estate agents, and this latest case raised concerns that the s...
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