Urgent CMA announcement for agents: The competition law & property portals

TPO shares an 'Open letter' from the Competition & Markets Authority (CMA) which issued a press announcement today…

TPO is urging agents to review a new ‘Open letter' issued by the Competition & Markets Authority (CMA) today, which concerns the competition law & property portals.

CMA letter - please click here to download.

TPO has been asked by the CMA to distribute a copy of this letter to ensure member agents are aware that when an estate agent makes a commercial decision about its choice of online property portals, the law requires that it makes that decision without colluding with estate agents that are its competitors.

The CMA letter highlights three important points concerning unlawful activity in this respect, and the consequences for individuals and companies.

A press announcement was also issued by CMA today which provides further information and includes quotes from TPO and NFOPP on this issue. Please click here to view a copy.