Wednesday, Jun 16, 2010
Bye Bye Rightmove
Property Week: Google enters property listings market
Google, the world’s biggest search engine, today added residential property listings to its Google Maps service. It claims the new feature already covers “hundreds of thousands” of homes for sale and rent.
The move to break into property follows months of speculation and allows estate agents and online portals alike to upload their listings directly to Google Maps at no cost. Private sellers will also be allowed to list their properties. Google has reached deals with Zoopla, Vebra, SmartNewHomes, PropertyLive and others to add their listings to the service.
Posted by little professor @ 05:35 PM (1263 views) Add Comment
9 Comments
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1. little professor said...
Example listing
2. Ab said...
I like it. Should really spice things up.
3. jack c said...
property listed on google but no change to the ridiculous pricing - 4 bed 4 bath in Worsley £1.5m on LP's example listing
4. dead spider said...
Jfc , it looks like an infection map for the plague !!!
5. Exiges said...
Rightmove shareholders are not going to be happy
6. the number cruncher said...
I think this could be interesting, lowering the barriers to entry will be good for competition and should lower fees. As house prices are fixed, economically speaking, by ability to borrow. This should end up knocking half a percent of the price. Could see a lot more independent sales as well.
I have just had a 3D virtual tour down my village, must say my garden is looking a lot tidier than when I got in this evening!
7. the number cruncher said...
my last statement was of course rubbish - meant to say this would put on half a percent to house prices if the fees came down
8. Bleh said...
As other have said, it wont change pricing, but if it hurts rightmove I can live with that :P
If individuals can list for free then I can quickly see this hurting estate agents as well. Most of the free to list options have poor coverage. Google has mega coverage so suddenly its a viable marketing system for some sellers.
9. Terry Knight said...
Number Cruncher
I think this will exert downward pressure in the longer term by excluding estate agents. As well as cheap money, the other vital ingredient was estate agents' talking up prices, as evidenced by their use of terms like 'recovery' and 'stability' to describe the present situation. Every thousand quid on the price adds twenty five or thirty to their bulging trouser pockets. I wonder what would have happened to prices if estate agents could only charge a fixed fee. The pressure then would surely have been downward, the priority to get a sale, at a discount if necessary.
And if you're watching, Mr Smith, I know estate agents have their clients' best interests at heart, they wouldn't do that, etc, so please don't bother reminding me.