In the News
Estate agent cartel is fined
20th September 2017
A really good competition policy example here as the Competition and Markets Authority fines a group of estate agents in Somerset for a cartel that fixed minimum commission charges.
According to the Competition and Markets Authority:
"A group of estate agents – all based in the Burnham-on-Sea area in Somerset – had a meeting and agreed to fix their minimum commission rates at 1.5% with the aim of making the agents involved more money, so denying local home owners the chance of getting a better deal when selling their property."
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
You might also like
Major tea exporters consider a new cartel
23rd January 2013
Monopoly Power in Markets
Topic Videos
Micro experiments - If it costs nothing, is it worth anything?
3rd February 2016
Sky/Fox merger and public interest
23rd January 2018
CMA probes Amazon over plan to buy Deliveroo stake
28th December 2019
What was the LIBOR-fixing scandal?
Study Notes