The National Directorate for Investigation and Promotion of Free Competition (DLC) of the indecopi initiated a sanctioning administrative procedure against the Peruvian Association of Real Estate Agents (ASPAI), for the alleged making of recommendations in the collection of percentages or amounts of commissions between competing real estate agents, which were capable of affecting the conditions of competition in said sector.
According to Resolution No. 0019-2023/DLC-INDECOPI, the anti-competitive recommendations were made through the ASPAI Code of Ethics, which established that the fees of its associates –real estate agents– should be set based on certain percentages or amounts, both for sale and rental operations of real estate.
This code would have been disseminated on the ASPAI website and, in addition, communicated directly to the new associates at the time of joining the association. This presumed recommendation would also have been included in the Single Code of Ethics approved by ASPAI and another association, which was released on September 7, 2016.
It is important to note that, according to information from the Central Reserve Bank of Peru (BCRP), between 2016 and 2022, the average sale price (per square meter) of the apartments went from US$1,623 to US$1,812, which represented an increase of 11.6 %. Therefore, if the commissions paid to real estate agents are calculated on the sale price, the recommendation could have made the value of homes on the market even more expensive.
It should be noted that the initiation of a disciplinary administrative proceeding is based on the existence of reasonable indications of the alleged anti-competitive conduct and does not constitute a prejudgment of the outcome of the proceeding or the responsibility of the investigated association, which has the right to formulate the disclaimers and defenses that it deems pertinent to attend to your rights.
Pursuant to the provisions of article 21.5 of the Consolidated Text of the Law for the Suppression of Anti-Competitive Conduct, any person with a legitimate interest may appear in person at the procedure, complying with the requirements to file a party complaint.
Source: Larepublica
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