Rightmove raised a few eyebrows last year when it rejected multiple takeover attempts from Rupert Murdoch-backed REA Group, with the final bid in excess of £6bn.
Rightmove said its board carefully considered each of the offers from REA Group but decided they “fundamentally undervalued” the property website and its future prospects.
Six months later and something has changed at Rightmove – “and not in a good way for agents”, claims Shaun Adams, the owner of Preston-based estate agency, Cooper Adams.
Cooper, who is leading a campaign against Rightmove and the ‘high’ listing fees that they charge estate agents, suggests that the property portal could be fattening itself up for a takeover – at the expense of estate agents.
“Over the past few months, there’s been a noticeable change in how they’re operating,” he said. “Fee increases are coming in hard and fast, with little to no room for negotiation. Even the large agents who once had a bit of leeway are now being met with a firm “no” – take it or leave it.”
It is not just about pricing, either, according to Adams.
He continued: “There are strong signs of internal cost-cutting, possibly through staffing reductions or streamlining operations. Combine rising revenue with lower costs and you get the clearest signal yet: Rightmove is boosting its short-term profits. But why?
“Back in early 2024, Rupert Murdoch’s REA Group – backed by News Corp – made a £6.2 billion offer to buy Rightmove. It wasn’t their first attempt, and it likely won’t be their last. Although Rightmove’s board rejected the approach, the timing and recent shifts in strategy suggest they may be preparing themselves for another bid – one that shareholders may find harder to resist.”
Adams, who recently appeared on BBC Radio 5 to discuss Rightmove fees, argues that Rightmove is adopting a “fattening the cow” tactic as a “classic” pre-acquisition move: “drive up margins, cut back costs, and polish the numbers to raise valuation”. But he adds, “there’s a problem”.
“While shareholders might welcome the boost, it’s agents who are being made to pay for it,” he explained. “The very businesses that helped build Rightmove’s dominance are now being squeezed harder than ever – forced to accept higher fees with less support, less flexibility, and less value.”
“What we’re seeing isn’t long-term platform development or investment in innovation,” he added. “It’s short-term dressing for a bigger payday – one that benefits the few, while putting even more pressure on agents already working with tight margins.
“When a platform forgets who its real customers are, trust breaks down. And once that’s gone, no amount of valuation is going to bring it back.”
Unhappy with your Rightmove fees? Adams has launched a new platform for disgruntled agents, www.portalfeescandal.co.uk
Rightmove has been approached for comment.
Without a doubt Rightmove are greedy, it’s not as if they don’t make vast profits already. They should be investigated.
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Agents have long been subjected to unfair treatment, with their influence continually undermined. Attempts have been made in the past to unite agents under a “one other portal” rule, notably with OTM, which presented a prime opportunity to challenge the then duopoly. Unfortunately, due to a lack of unity and self-interest among many agents, Rightmove’s monopoly has only strengthened—something agents have no one but themselves to blame for.
Rightmove’s agenda is clear: increase the presence of corporate agencies while reducing the number of independent agents. Ironically, it is the independents who have enabled this situation. While Shaun Adams has reignited the anti-Rightmove campaign, it lacks the momentum and support seen in previous efforts. What agents cannot afford is yet another failed attempt.
The solution has been discussed time and time again—agents should strategically limit their listings on Rightmove using the tools already available. For instance, by utilising OTM’s “Only With Us” feature, agents can list properties on their own websites, Facebook, and OTM for 3-5 even 7 days or more before uploading them to Rightmove. Delaying the feed to Rightmove and educating clients on this approach will not only strengthen agents’ independence but also prove to them that Rightmove is not as essential as many believe.
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It’s clear that there have been numerous attempts to shift the dynamics in the market, and I respect the effort that’s gone into these initiatives.
One point I think is crucial for agents to consider is being open to the work done by disruptors. While the current landscape is dominated by a few key players, many disruptors offer what’s needed for agents to move beyond the limitations of traditional platforms. This isn’t just about replicating Rightmove; it’s about doing something different and doing it better—classic challenger strategy. Disruptors aren’t trying to simply replace an incumbent; they’re offering innovative solutions that can genuinely benefit agents and their clients, often in ways the big portals can’t match.
For agents to truly move forward, there needs to be an openness to exploring these new models and approaches. It’s not about rejecting the incumbents entirely, but about finding better ways to serve the needs of the market.
Ultimately, the challenge is about empowerment—empowering agents to take control of their marketing and positioning in ways that go beyond what the existing models have to offer.
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EVERYTHING Rightmove does is at the expense of estate agents.
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