The CMA are investigating the provision of residential estate agency services

First published by Author on May 18, 2018 in the following categories: Investigations

The CMA (Competition and Markets Authority) are investigating the provision of residential estate agency services over suspicions that there may be anti-competitive agreements in place, contrary to Chapter I of the Competition Act 1998 (CA98).

The investigation came off the back of information gleaned from a previous investigations involving residential estate agency services in the Burnham-on-Sea area.

Not a great deal of information has been released about his one given that the investigation is in its infancy, but it could be a big one if the CMA find that there are anti-competitive arrangements in place.

The case has only just been launched, so no assumptions are being made as to whether there have been any breaches of the law, and whether there are any anti-competitive arrangements in place. Several parties are thought to be under investigation, and further details are set to be released once more information is known.

The residential estate agency market is certainly one to keep an eye on, especially given rising house prices and difficulties for consumers to know when they are actually getting the best deal for buying or selling a house. A lot of new players have entered the market recently, many of which are marketing cut-price services and quick sales, taking market share away from traditional high-street estate agents and the well-known brands.

We’ll be keeping an eye on this one, and will look to report any updates as and when we receive them.