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Rightmove faces £1bn legal action over ‘unfair’ estate agent fees
The claim alleges Rightmove exploited market dominance to impose excessive fees on thousands of estate agents seeking to reclaim overpaid charges worth around £1 billion.
- This year, Rightmove is set to face a class legal action seeking damages estimated at around £1 billion, with the case due at the Competition Appeal Tribunal led by Jeremy Newman, former Competition and Markets Authority panel member.
- Claimants allege Rightmove exploited its dominance of the UK online property portal market to charge excessive subscription fees, squeezing small and independent estate agencies with repeated price increases.
- Thousands of estate agents will be covered unless they opt out, with the group claim funded by specialist litigation funder Innsworth Capital Limited.
- In a statement to investors, Rightmove said it had received notice of a potential claim and added, `We’re confident in the value we provide to our partners,` while Mr Newman said the claim will seek to return the overpaid fees to estate agents across the country.
- Given Rightmove's market share, the outcome could reshape sector pricing as claimants allege small and independent estate agencies face squeezed competition despite Rightmove attracting around 80% of all time spent on property portals.
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11 Articles
11 Articles
Rightmove faces legal action over claims of ‘excessive’ fees for estate agents
A group making a claim against the property website estimated that damages could total around £1 billion. Rightmove is set to face legal action over accusations that it charges unfair and excessive fees to thousands of UK estate agents. A group making a claim against the property website estimated that damages could total around £1 billion. The case, which is being led by former panel member for the UK’s competition watchdog Jeremy Newman, is du…
Coverage Details
Total News Sources11
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
14%
C 72%
14%
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