"Estate agents are having to employ fewer people because they can't afford them alongside their fees to Rightmove. As a result, their services can't be as effective."
"Rightmove is exploiting a self-evident dominant market position, and are charging too much for it."
"Rightmove has consistently reported a profit margin of around 70%, making it one of the most profitable companies in the FTSE 100."
"The claim alleges that Rightmove has charged thousands of estate agents and new home developers excessive and unfair subscription fees."
Estate agents accuse Rightmove of charging unsustainable fees, with some fees reportedly doubling in recent years. A class action, led by Jeremy Newman, seeks nearly 1.5 billion in damages, alleging Rightmove has abused its dominant position in the online property market. The claim states that estate agents face rising fees with minimal service changes, forcing them to reduce staff. Rightmove maintains its fees reflect the value provided and plans to defend the claim vigorously, despite its high profit margins and significant market share.
Read at www.bbc.com
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