The Supreme Court has upheld a ruling that a group of Hamilton realtors colluded to pass on a hike in Trade Me's property listing fees.
The Lodge and Monarch agencies and their respective directors Jeremy O'Rourke and Brian King were the hold-outs in a 2015 case brought by the antitrust Commerce Commission. Thirteen national and regional real estate agencies were accused of fixing prices in 2013 and 2014, most of whom acknowledged the wrongdoing.
The two firms successfully defended the claim in a 2017 High Court hearing, but lost when the commission took the case to the Court of Appeal in 2018. The Supreme Court today unanimously dismissed their appeal.
Chief Justice Helen Winkelmann and justices Susan Glazebrook, Mark O'Regan, Ellen France and Joe Williams upheld the appeal court's ruling, saying the agencies took a concerted approach to Trade Me listings that prevented competition from developing.
The judges accepted there was some rationale for the agreement to promote the rival realestate.co.nz platform, but said that wasn't the sole purpose.