{"id":567752,"date":"2025-11-13T14:05:19","date_gmt":"2025-11-13T14:05:19","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/567752\/"},"modified":"2025-11-13T14:05:19","modified_gmt":"2025-11-13T14:05:19","slug":"rightmove-facing-1bn-group-action-by-estate-agencies","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/567752\/","title":{"rendered":"Rightmove facing \u00a31bn group action by estate agencies"},"content":{"rendered":"

\t\t\t\t\t\t\t\t\t\"\"Pic credit: Skills for Justice<\/p>\n

Rightmove is facing fresh pressure over its fees after an \u2018imminent\u2019 group legal action was today launched to represent estate agents seeking to recoup what it calls \u201cexcessive and unfair fees\u2019\u201d<\/p>\n

This legal action is being led by former Competition and Market Authority panel member Jeremy<\/strong> Newman<\/strong> (main image) and its action is being funded by City firm Innsworth Capital and supported by law firm Scott+Scott UK LLP and economists Kairos Economics.<\/p>\n

\u00a31bn compensation claim<\/p>\n

The group says the amount of money it hopes to recoup on behalf of participating estate agents could reach \u00a31 billion. It says any estate agent who has paid fees to Rightmove over the past six years are eligible to join the group, which will be on an \u2018opt out\u2019 basis.<\/p>\n

Newman is an accountant by trade and a leading figure within the legal, charitable, housing, Government<\/a><\/strong>, open banking and financial worlds including spells as Deputy Chair of the Government Legal Department and Non-Executive Board member and Chair of the Audit Committee of the Crown Prosecution Service.<\/p>\n

He says: \u201cRightmove knows that, due to its first-mover status, its product is considered a \u2018must-have\u2019 for estate agents.<\/p>\n

\n

It exploits its dominance of the online property portal market in the UK to charge excessively and unfairly high subscription fees.\u201d<\/p>\n<\/blockquote>\n

\u201cIt exploits its dominance of the online property portal market in the UK to charge excessively and unfairly high subscription fees, both at face value and when compared with its competitors.<\/p>\n

\u201cEstate agents have had to absorb consistent, excessive price increases on a regular basis.<\/p>\n

\u201cMy case will seek to return the overpaid fees<\/a><\/strong> to estate agents across the country and to rebalance the relationship between Rightmove and the estate agents that use its online property portal.\u201d<\/p>\n

Levelling the playing field
\n\"\"Ian Garrard, Managing Director of Innsworth Advisors<\/p>\n

Ian<\/strong> Garrard<\/strong>, Managing Director of Innsworth Advisors says: \u201cJeremy\u2019s claim is about levelling the playing field for businesses up and down the country, deterring anti-competitive behaviour and correcting the imbalance between big and small in the property sector.<\/p>\n

\u201cWithout the opt-out collective actions regime, it would be much harder \u2013 or even impossible \u2013 for SMEs to seek redress for anti-competitive behaviour.<\/p>\n

\u201cAs a result of Innsworth\u2019s funding \u2013 and at a time of considerable uncertainty for the opt-out regime \u2013 businesses within the class will not have to pay a penny towards the claim.\u201d<\/p>\n

Agents want more information should contact the group via email<\/a><\/strong>.<\/p>\n

Rightmove<\/strong> says: \u201cRightmove notes press articles relating to a potential claim against Rightmove.\u00a0\u00a0Rightmove has received notice of a potential claim.<\/p>\n

\u201cWe\u2019re confident in the value we provide to our partners.\u00a0\u00a0Further updates will be provided as appropriate.\u201d<\/p>\n

Industry reaction<\/p>\n

Anthony Codling, RBC Capital Markets<\/strong><\/p>\n

\"\"Anthony Codling, Managing Director, RBC Capital Markets<\/p>\n

\u201cThe fact that estate agents don\u2019t like paying fees to Rightmove is hardly breaking news. Are the fees uncompetitively too high? Fees are in the eye of the beholder. Is a business class flight from London Heathrow to JFK too expensive?.\u201d he says.<\/p>\n

\u201cFor many of us yes, but cheaper seats are available that get you to the same destination on the same plane at the same time. Some willingly choose to turn left and the rest of us turn right.<\/p>\n

\u201cRightmove offers a range of packages to its customers, and they choose which to pay for. They balance the return on investment \u2013 if I spend a few pounds more will I make a greater return (win more instructions or make efficiency gains which justify the costs)? Just like asking prices for houses, if the price is too high, make a lower offer or buy another house. Very few of us choose to sue the supplier.\u201d<\/p>\n

\t\t\t
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