Entegral voices real estate industry concerns at the Online Intermediation Platforms Market Inquiry (OIPMI)
In February this year , the Competition Commission of South Africa launched its “Online Intermediation Platforms Market Inquiry (OIPMI)” . The Commission published a draft for public comment outlining its plan to investigate these markets and stating that “the Commission has reason to believe that there exist market features which impede, distort or restrict competition amongst the platforms themselves, and which undermine the purposes of the [Competition] Act.” While it encompasses companies like Takealot, Uber Eats, and Airbnb, it also started an investigation into property portals and listing syndication providers . Which caught the attention of Entegral as we know that: High portal prices are a big problem for many of our real estate clients. Are they justified, and do they deliver value for agents? Some platform market features hinder fair competition between portals, service providers, and innovative new real estate models; Competition amongst platforms is fierce, and...