Turkish competition board fines real estate platform .47M

Turkish competition board fines real estate platform $1.47M

Türkiye’s Competition Board (RK) has imposed an administrative positive of TL 40.1 million ($1.47 million) on an actual property and automobile gross sales platform, along with a number of obligations that the positioning should comply with, over violating the Law on the Protection of Competition, in line with Anadolu Agency’s (AA) stories on Wednesday.

The investigation has been launched into Sahibinden Information Technologies Marketing and Trade Inc., in line with the data on the competitors watchdog’s web site.

In the investigation, it was decided that the platform, which was discovered to be dominant in the true property gross sales/rental and automobile gross sales platform companies market, made it tough for its company members (actual property brokers and sellers) in the true property and automobile classes to make use of a couple of platform by stopping them from transferring their advertisements to different itemizing platforms.

In line with the choice, the platform should abolish the provisions within the contracts it has signed with its company members in the true property and automobile classes that stop the members from transferring their posting information to different platforms.

In addition, the platform might want to present the infrastructure that can allow advertisers to successfully switch their information on actual property and automobile advertisements to competing platforms and maintain their information on these advertisements up-to-date, with none cost.

In addition to the switch of knowledge to different platforms, the obligations imposed by RK to the platform additionally paved the best way for many who enter advertisements from competing platforms to switch their information to Sahibinden Information Technologies Marketing and Trade Inc.’s web site.

The implementation of those compliance measures can be monitored yearly by the board for 3 years from the date of first implementation.

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Source: www.dailysabah.com