What is price fixing in real estate?

Price fixing in real estate refers to the illegal practice of real estate industry participants conspiring to fix or set the prices of real estate properties, services, or commissions at a predetermined level. This could involve real estate agents or brokerage firms colluding to keep prices artificially high or setting a minimum commission rate or a standardized listing price.

Price fixing is illegal under antitrust laws and is considered a violation of fair competition guidelines. It can lead to reduced consumer choice, higher costs, and lower quality services in the real estate industry. Those found guilty of price fixing can face heavy fines and penalties, including criminal prosecution.

Real estate regulators actively monitor price fixing activities in the industry and have established various legal provisions to curb the practice. Home buyers and sellers are encouraged to seek out the services of reputable and ethical real estate professionals who follow fair business practices and comply with antitrust laws.