Lack of advertising competition pushing up prices for all
The peak body for the real estate sector in New South Wales approached the national consumer watchdog, ACCC, over the rising costs of property-related advertising and erosion of competition in that lucrative space.
The fees incurred by vendors when selling or renting out a property have risen way beyond the inflation rate. (Image source: Shutterstock.com)
The Real Estate Institute of NSW has been busy in recent times seeking to raise the critical issue of costs and competition in our industry, specifically when it comes to online marketing of property.
The Australian Competition and Consumer Commission (ACCC) has launched a probe into the pricing tactics of REA Group, which owns realestate.com.au. REINSW has welcomed the independent scrutiny of the market’s dominant player.
Strong competition is c…
