Cited in the press today is that the National Association of Estate Agents are to set up a free property portal for agents to advertise properties. This has derived from an over concentration in the market from Rightmove mainly. Rightmove has designed a great portal to capture a leading posistion, but it has used this to incur continual price rises that have now caused this reaction from NAEA. The prices have become too heavy, in particular for smaller and newer estate agents. It is also surpising that they have made price increases in the currrent difficult property climate. Whilst this move from NAEA is highly inlikley to ovethrow Rightmove leading status, it does seem Rightmove's over eagnermness to reap the markets rewards is leading to new competition that are seeking to provide more cost efficient portal models.
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