OFT investigates property sales and lettings and their advertising
By Alexandra Brown
The Office of Fair Trading (OFT) has announced it is conducting a formal investigation into suspected anti-competitive agreements and/or practices involving businesses in the property sales and lettings sector.
Its concerns relate to the advertising of fee rates in media entities and the businesses’ approach to each other’s customers.
The investigation is under Chapter I of the Competition Act 1998. The Chapter I prohibition forbids agreements between businesses that prevent, restrict or distort competition to an appreciable extent in the UK…
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