The Spanish Competition Authority imposes fines totalling €1.5M on several companies for imposing minimum commissions in the real estate brokerage market (Anaconda / Idealista / Inmovilla / Look & Find / MLS / Remax / Witei)

The CNMC fines several companies EUR 1.25 million for imposing minimum commissions in the real estate brokerage market.* The companies fined set up a multiple listing service (MLS) in Spain, through which they imposed minimum brokerage commissions. Membership in the system generally required a minimum 4% commission rate on purchases and sales transactions and one month's rent for leases. This membership in the MLS limited the ability of real estate agencies to compete and set commissions independently. Madrid, 9 December 2021.- The CNMC has fined Anaconda, Idealista, Inmovilla, Look & Find, MLS, Remax and Witei for entering into real estate brokerage pricefixing and information-sharing agreements. (S/0003/20). These practices constitute a single and continuous infringement under