Estate agents accuse Rightmove of charging excessive fees

Estate agents in the UK are accusing Rightmove, the dominant online property portal, of charging “unsustainable” fees, with some reporting increases of over 100% in recent years. A class action lawsuit, spearheaded by accountant Jeremy Newman, is seeking nearly £1.5 billion in damages, claiming Rightmove is abusing its dominant market position. The claim alleges that Rightmove charges unfair subscription fees to estate agents and new home developers, despite minimal improvements in services.

Rightmove maintains the claim is without merit and defends the value it provides to partners and consumers, citing its 70% profit margin and 80% share of time spent on property portals. However, numerous estate agents report struggling to absorb the rising costs, with some, like Alisa Zotimova of AZ Real Estate, seeing fees more than double in seven years. These agents feel compelled to use Rightmove due to customer expectations and its lead generation capabilities, despite acknowledging the financial strain.

While some agents, like Andy Keogh, believe Rightmove offers value for money due to its market dominance and lead generation, others, such as Chris in Northamptonshire, are paying over £5,000 a month for a basic membership. The legal action is seen by many as a “David and Goliath” battle, offering a potential avenue for challenging Rightmove’s pricing practices and ensuring a more competitive market.

(Source：BBC News)