Date published: 01.09.08 - not release date

Rightmove Referred to OFT

www.first4sale.com has formally referred Rightmove to the Office of Fair Trading. The referral has requested that the OFT investigates whether Rightmove is abusing its dominant position (http://www.oft.gov.uk/Business/Legal/Competition/ca982.htm#a...) in the market and is adopting anti competitive practices.

Rightmove is the UK’s leading property website and claims to have a 78% share of the UK online property advertising market, with 4.5m visits a month (http://technology.timesonline.co.uk/article/0,,20411-2033010...). This provides it with a dominant position in this marketplace. It however, only allows traditional estate agents who typically charge a sales commission of between 1% to 2% to list properties on its website.

www.first4sale.com is an innovative estate agency service that utilises the power of the internet to enable vendors to realistically sell their properties from as little as £44.99.

Rightmove have declined to allow www.first4sale.com to list its properties on Rightmove’s site. This is despite the OFT formally confirming that first4sale.com is operating as an estate agent.

first4sale.com has requested that the OFT investigates whether Rightmove, in refusing to allow internet property agents to list on its site, is abusing it’s dominant position in the market and is adopting anti competitive practices.

Rightmove is 30 per cent owned by Countrywide, the UK’s largest estate agency. Other shareholders include HBOS, Royal & Sun Alliance and Connell Estate Agents (http://technology.timesonline.co.uk/article/0,,20411-2033010...). Some of it’s shareholders may have a vested interest in ensuring that internet based estate agents, who charge a fraction of the fees charged by traditional estate agents, aren't allowed to list on Rightmove. If internet based estate agents were allowed to list, this would further empower private vendors to sell their homes their way.

The OFT advised first4sale.com that it will review the basis of the referral.

For further info on www.first4sale.com or to speak with First4sale’s Director Mark Fisher please contact Neill or Rachael at Alison Jameson Consultants on neill@ajc.demon.co.uk, rachael@ajc.demon.co.uk or call +44 131 621 7210.