The Competition and Markets Authority (CMA) has fined six Somerset estate agents a total of £370,084 for participating in an illegal cartel to fix prices in the provision of estate agency services. This amount includes a discount as the businesses co-operated with the CMA investigation and admitted its roles in the cartel.
Abbott and Frost Limited, Annagram Estate Agents Limited (trading as ‘C J Hole’), Gary Berryman Estate Agents Ltd (and its parent company Warne Investments Limited), Greenslade Taylor Hunt, Saxons PS Limited and West Coast Property Services (UK) Limited admitted their participation in this price fixing cartel.
One of the parties, Annagram Estates Limited (trading as CJ Hole), has not been fined as it was the first to admit its participation and it co-operated with the CMA investigation.
These businesses colluded to set a minimum commission rate for residential property sales in their area.
Details can be found here.
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