OnTheMarket (OTM) has taken a fresh swipe at Rightmove, accusing it of charging agents excessive fees.
Positioning itself s being on the side of agents, a spokesperson for OnTheMarket (OTM) said: “For years, agents have faced escalating costs from the market leader, often without corresponding improvements in service or innovation.
“At OnTheMarket, our ethos has always been to put the customer first and to offer fair and sustainable pricing to our agents and developers. We are and have always been committed to providing outstanding value, a choice of packages and continuous investment in technology and marketing to drive high-intent leads.”
“We will continue to champion choice, competition, and innovation in the property portal market for the benefit of agents and consumers alike,” added the spokesperson.
OTM’s comments comes just days after thousands of UK estate agents were invited to join a collective legal claim – at no cost – accusing Rightmove of abusing its dominant market position by charging excessive listing fees.
The property portal is facing an “imminent” legal challenge from thousands of estate agents who accuse the property portal of abusing its market dominance by charging unfair and excessive listing fees. Damages in the collective action are estimated at up to £1bn.
The claim is being led by Jeremy Newman, a former panel member of the Competition and Markets Authority (CMA), and alleges that Rightmove has leveraged its leading position in the online property listings market to impose inflated subscription prices on estate agents.
If successful, the lawsuit could mark one of the largest collective actions ever brought against a UK digital platform, potentially reshaping how property portals set their pricing structures.
The case, fully funded by specialist litigation funder Innsworth Capital and supported by law firm Scott+Scott UK LLP and economists from Kairos Economics, will be filed on behalf of thousands of agents on an opt-out basis. Any UK estate agent that has paid fees to Rightmove in the last six years will automatically be included in the action unless they choose to opt out.
Read the orginal article: https://propertyindustryeye.com/onthemarket-renews-attack-on-rightmoves-fees-following-legal-claim/?utm_source=rss&utm_medium=rss&utm_campaign=onthemarket-renews-attack-on-rightmoves-fees-following-legal-claim
