Wednesday, 23 March 2011 00:00

Decision 518/2011

Decision on an ex-officio investigation of the Directorate-General for Competition in the market for real estate agency services, to examine possible infringement of article 1 of former L. 703/1977 and article 101 TFEU.

Decision 518/2011
File (PDF) Decision 518/2011
Date of Issuance of Decision March 23rd, 2011
Government Gazette Issue No
Relevant Market

Real Estate Agency Services

Subject of the Decision

Cartel

Legal Framework

Article 1 of  L. 3959/2011

Operative part of the Decision

Finding an infringement

Complainant(s)

Ex-officio investigation

Respondent(s)
  1. Hellenic Association of Real Estate Agencies
  2. Association of Real Estate Agency of Athens-Attika,
  3. Association of Real Estate Agency of the Prefecture of the First Instance Court in Thessaloniki,
  4. Association of Real Estate Agency in the Prefecture of Chania and
  5. Southeast Europe Association of Real Estate Greek Consultants
Summary of Decision

The Plenary Session of the HCC in its Decision no. 518/VI/2011, following an ex-officio investigation of the Directorate-General for Competition in the market for real estate agency services, found that the Associations of Real Estate Agencies of: a) Athens-Attika, b) the Prefecture of First Instance Court in Thessaloniki, c) Southeast Europe and d) the Prefecture of Chania, violated article 1 par. 1 of former L. 703/1977 and article 101 par. 1 of TFEU.

According the Decision, the above mentioned Associations of Real Estate Agencies had proceeded, to the detriment of consumers, in direct or indirect fixing of minimum fees/commission, stating explicitly in their Statutes or in other documents, the percentage of 2% on the value of the property, as a minimum fee/commission for the provision of real estate services, or with recommendations and instructions to their members for consolidation of a practice claiming 2% as a minimum fee for the provision of real estate services or/and with the prohibition of advertising of a reduced (less than 2%) or zero fee/commission.

Judicial Means Appeal.
Decisions by the Court of Appeal of Athens (Administrative Division) ACAA 2821/2013, ACAA ACAA 502/2013
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