Rightmove faces £1bn legal claim over ‘excessive’ fees for estate agents
Why Rightmove is facing a £1bn legal claim from estate agents
- Property portal Rightmove is facing a substantial legal challenge over accusations of charging "unfair and excessive" fees to thousands of UK estate agents.
- The claim, led by Jeremy Newman, a former panel member for the UK's competition watchdog, estimates potential damages could total around £1 billion.
- Newman alleges Rightmove exploits its dominant position in the online property portal market to impose excessively high subscription fees on estate agents.
- Thousands of estate agents will be represented in the legal action unless they choose to opt out.
- Rightmove has stated it has received notice of a potential claim but is "confident in the value we provide to our partners".