Estate agents ‘fear’ Rightmove retaliation in legal case
Lawyers in a £1.5billion action led by Jeremy Newman say agents are worried about "adverse commercial consequences".
Estate agents fear retaliation from Rightmove if they give evidence in a £1.5billion lawsuit case against the portal.
Lawyers acting for the claimants told a tribunal hearing a “significant number” of agents were worried about “adverse commercial consequences”.
First hearing
The claim was made in the first hearing of the Competition Appeal Tribunal class action against Rightmove brought by Jeremy Newman (pictured), a former panel member of the Competition and Markets Authority and a director of the Clarion Housing Group.
More than 250 estate agencies from across Britain are understood to have expressed support for the claim since it was first announced in November last year.
Dominant portal
The action is being taken on behalf of thousands of agents who were allegedly overcharged by the property portal.
The legal claim alleges that Rightmove abused is position as the dominant property portal, charging estate agents “excessive” and “unfair subscription fees”.
Jeopardised
Newman said in a witness statement, the Financial Times reports, that estate agents had “expressed a concern that they might face retaliatory conduct from Rightmove or that their commercial relationship with Rightmove would be jeopardised should their name be made public or associated with the claim”.
A barrister acting for Rightmove told the tribunal the company “completely rejects the suggestion”.
He said Rightmove “sees them [agents] as partners”, and “it would be shooting itself in the foot” if it retaliated.
Rightmove comment
A Rightmove spokesperson told The Neg: “Rightmove is confident in the value we provide to our partners and consumers, who are at the core of our business solutions and digital platform.
“As one of the most efficient parts of the UK housing market, we help people across the UK to move home by bringing buyers, sellers, renters, landlords and agents together.
Rightmove completely rejects the idea that we would retaliate against any agents who engaged with Mr Newman’s proposed class action.”
“Our platform continues to provide a growing range of innovative products and features which facilitate market transparency, liquidity and confidence. This claim is without merit, and we will defend it vigorously.
“Rightmove completely rejects the idea that we would retaliate against any agents who engaged with Mr Newman’s proposed class action.
“Our business is built on long-term commercial partnerships with estate agents. Those relationships are based on direct engagement, transparency and a shared understanding of the services we provide.”
Agents should not be frightened to provide honest evidence about their own experiences.
The law allows businesses to support legal proceedings and report suspected anti-competitive conduct to the Competition and Markets Authority. Section 18 of the Competition Act 1998 prohibits the abuse of a dominant market position, including unfair trading conditions. (Legislation.gov.uk)
Rightmove has publicly stated that it would not retaliate against agents supporting this claim. I welcome that assurance.
No responsible business should increase fees, reduce service, alter terms or terminate a commercial relationship simply because someone has provided truthful evidence to a court or regulator. Any attempt to interfere with ongoing legal proceedings could also raise serious contempt of court issues. (Legislation.gov.uk)
Agents should, of course, remain truthful, keep proper records, respect any confidentiality agreements and take legal advice before sharing sensitive information.
But nobody should feel intimidated into silence.
Speaking honestly about your own invoices, experiences and dealings is not an attack. It is evidence.
Rightmove says agents are its partners. Genuine partners should be able to speak openly without fearing commercial consequences.
Here we go! My thoughts and comments are alongside the reported comments.
A barrister acting for Rightmove told the tribunal the company “completely rejects the suggestion”. WELL THEY WOULD.
He said Rightmove “sees them [agents] as partners”, and “it would be shooting itself in the foot” if it retaliated. ABSOLUTE COBBLERS. MORE LIKE CASH COWS.
Rightmove comment
A Rightmove spokesperson told The Neg: “Rightmove is confident in the value we provide to our partners and consumers, who are at the core of our business solutions and digital platform. WHAT VALUE? QUANTIFY THAT COMMENT.
“As one of the most efficient parts of the UK housing market, we help people across the UK to move home by bringing buyers, sellers, renters, landlords and agents together. SO DOES ZPG AND OTM, AT A FRACTION OF THE COST
Rightmove completely rejects the idea that we would retaliate against any agents who engaged with Mr Newman’s proposed class action.” WELL YOU DID WITH ME IN 2016.
“Our platform continues to provide a growing range of innovative products and features which facilitate market transparency, liquidity and confidence. This claim is without merit, and we will defend it vigorously. PRODUCTS YOU ARE “ENCOURAGED” TO BUY. TOLD BY A RETENTIONS DEPT “YOU DON’T KNOW HOW USE RIGHTMOVE”
“Rightmove completely rejects the idea that we would retaliate against any agents who engaged with Mr Newman’s proposed class action. SO-CALLED JUSTIFIED HIGHER FEES
“Our business is built on long-term commercial partnerships with estate agents. Those relationships are based on direct engagement, transparency and a shared understanding of the services we provide.” YOUR BUSINESS IS BUILT ON FEAR.