The Auckland High Court fines real estate agencies $4 million for price fixing (Lodge / Monarch)

Hamilton real estate agencies to pay $4 million for price fixing* The Auckland High Court has ordered Hamilton-based Lodge Real Estate Limited (Lodge) to pay $2.1 million and Monarch Real Estate Limited (Monarch) to pay $1.9 million for engaging in price-fixing in breach of the Commerce Act. The Court’s penalty judgment brings an end to proceedings the Commission first filed in December 2015 against 13 national and regional real estate agencies and three individuals for agreeing to pass on the costs of Trade Me's pricing change for real estate listings to vendors. The final total of penalties imposed in this case is just under $23 million. Lodge and Monarch have been penalised