The Australian Competition and Consumer Commission (ACCC) announced on Monday that it has accepted an enforceable undertaking from REA Group, the operator of realestate.com.au. REA Group, which is majority-owned by News Corp, has committed to removing specific provisions from its contracts that effectively forced real estate agents to list properties exclusively on its platform.

An enforceable undertaking serves as a formal, legally binding commitment between a business and the regulator, which can be upheld in court if breached. The ACCC’s intervention was prompted by concerns that these restrictive clauses limited the ability of agents to utilize other platforms or market their properties through alternative channels. By removing these requirements, the regulator aims to foster a more competitive environment in the digital real estate advertising market, allowing agents greater flexibility in how they list and promote properties.

While the ACCC has characterized this as a necessary step to ensure fair competition, the agreement marks a significant shift in how the dominant market player interacts with its client base. The change effectively ends the practice of tying agents to the platform through exclusivity, though the long-term impact on market pricing and platform dominance remains to be seen. REA Group has agreed to comply with these new terms as part of the formal resolution with the watchdog.