Independent agents would like to see the portal's dominance and hold over the market wane, as its share price plunges.
17th Feb 20261 1,306 1 minute read David Callaghan
Independent agents have reacted to news that Rightmove’s share price is falling to new five-year low levels with warnings that the portal’s days are numbered.
At the very least, its dominance is under threat with the development of AI, agents claim.
They know they will be long gone, possibly by the end of the decade.”
Kit Johnson, Director, Kit Johnson Residential
Kit Johnson, Director at Kit Johnson Residential in Bath, says: “AI will make the whole Rightmove concept completely redundant, and they know it hence cashing as much money as they can with no regard whatsoever for agencies, they know they will be long gone, possibly by the end of the decade.
“They will be studied like Blockbuster Video Store,” he says
“It is important now for agents to invest in their own websites, that is where the AI traffic will lead clients in the future.”
I welcome anything that might challenge their market dominance.”
Jason Davies, Director, Davies Properties
And Jason Davies, Director at Davies Properties in West Yorkshire, says: “Rightmove feels like a necessary evil for independent agents like myself.
“The disparity in pricing is stark – corporate chains with multiple branches receive huge discounts, whilst small business owners pay premium rates with no equivalent support,” he says.
“This imbalance has persisted for far too long, and I welcome anything that might challenge their market dominance.”
Out of businessAgents warned recently they will go out of business if Rightmove ploughs ahead with proposed fee increases of up to 18% this year.
And it is already facing a group legal action seeking to recoup “excessive and unfair fees”
The portal’s share price continues to fall this week after a 17% drop in the last month.
Low pointsThere were similar low points in 2022 and 2023, and the price recovered, reaching a high point of over £8 in August last year.
But it plummeted in November following its latest trading update which revealed it is planning to spend £60 million over three years on AI and product development that would impact profits.
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TagsRightmove Rightmove and AI 17th Feb 20261 1,306 1 minute read David Callaghan Share Facebook X LinkedIn Share via Email
