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property portal move right It faces a major legal challenge as thousands of people across the UK face charges estate agents “Unreasonable and excessive” fees.
One group bringing the claim estimates the potential loss could be around £1 billion.
The case is to be heard by the Competition Appeal Tribunal, led by Jeremy Newman, a former panel member of the UK competition watchdog.
Mr Newman confirmed the action would “seek to refund overpaid fees to estate agents across the country”.
They accused the company of acts that “exploit its dominance in the online property portal market in the UK to charge excessive and unreasonably high subscription fees, both at face value and in comparison to its competitors”.
“Estate agents have to put up with persistent, excessive price increases on a regular basis,” he said.
Thousands of estate agents will be represented in the legal action unless they choose to opt out.
In a statement to investors, Rightmove said it had “been informed of a potential claim”, adding: “We are confident in the value we provide to our partners.”
Depending on the estimated total damages and the size of the class action, it is understood the claim assumes agents could be charged thousands of pounds for using Rightmove.
Rightmove has previously come under scrutiny due to a petition Earlier this year it received more than 2,000 signatures calling for an investigation into its pricing model.
The company has been accused of suppressing small businesses and independent agencies by charging fees higher than those paid by corporate chains.
Mr Newman was a member of the first panel Competition and Markets Authority (CMA), which investigates markets, companies and business deals if there are concerns that their behavior may be unfair or anti-competitive.
The case is being funded by specialist litigation fund Innsworth Capital Limited.
Rightmove says it has the largest selection of properties for sale and rent in the UK, with around 80 per cent of time spent on the property portal being on its site.
The FTSE 100-listed firm made pre-tax profit of £146.5 million in the six months to the end of June.