Skip to content

Property portal slams Rightmove for high fees

Property portal Residential People has accused Rightmove of charging agents too much.

The company said Rightmove, which is the market leader, charges crippling fees that put a significant squeeze on independent agents.

Rightmove angered agents in November by hiking fees, as costs for single-branch agencies vary from £1,936+VAT down to 990+VAT.

Christopher May, director of Residential People, said: “As it stands, property portals make money by charging agencies to list on their site, regardless of a sale or let being made.

“Depending on the quality of your listings, brand notoriety, area of operation, and a whole host of other factors, you could end up paying a considerable fortune to a portal before you even generate your first lead.

“Property portals are undoubtedly a main driving force for the industry and are platforms that are here to stay, but what good is a portal without the agents supplying the properties?

“In theory, portals should work for the agent, not against them, yet in practice, this rarely is the case.”

Residential People is a free-to-list platform that delivers income using features it said were ‘optional’.

The company will charge for exclusive annual advertiing for agents, a marketing suite of products, property services advertising for brand awareness, new features like a discount property section, and for its businesses for sale section.

The company hasn’t been involved in the UK market for long, but has 1 million listings worldwide.

Rightmove was approached for comment.