Internet giant Google is allegedly lining up the UK to launch a website which would allow estate agents to list their property for free. Currently most agents are reliant on property portals such as Rightmove to list property. This can cost the average agency £325 per month.
There have been many attempts to overturn Rightmove's dominance of the Internet property marketing world but all so far have failed. There have been also many attempts at free direct marketing sites that allow properties to be listed for free. The latest being the website Tepilo backed by celebrity landlord and developer Sarah Beeny.
The entry of Google would have the reach and effectiveness to mount a serious challenge to the likes of Rightmove. The City responded to the rumours by immediately marking Rightmoves shares down by 10%.
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