REA Group Resolves ACCC Concerns Over Subscription Offerings

MT Newswires Live

Sep 14

REA Group (ASX:REA) reached a court-enforceable agreement with the Australian Competition and Consumer Commission (ACCC) to resolve the regulator's concerns related to some of the company's subscription offerings, according to a Monday filing with the Australian bourse.

The company said it made certain commitments, including not to require real estate agency customers to list all or the majority of their properties for sale or rent on realestate.com.au, and to provide "even greater flexibility" for agents to downgrade listings to lower tiers.

The ACCC did not initiate legal proceedings against the company, and there was no finding of legal wrongdoing, REA Group said.

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