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ACCC Forces REA Group to Rewrite Exclusive Agent Contracts

By Drooid · · How we work

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Story summary
  • The Australian Competition and Consumer Commission forced REA Group to rewrite agent contracts.
  • REA Group accepted an enforceable undertaking to remove exclusive-listing clauses.
  • Previous contracts required agencies to list all properties on realestate.com.au, limiting rivals.
  • Contracts also forced agents onto Premiere or Luxe tiers costing up to $4,000.
  • Listing fees rose about 30% over three years before the Guardian investigation.