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Google takes on the property sector

While Google has many fingers in many pies, the announcement that the company is looking towards a possible property portal in the future has caused some concern within the UK property market. Indeed yesterday we saw the shares of Rightmove, the U.K.'s leading estate agent, fall by over 10% on concerns that the Google operation could reduce Rightmove's significant market share in the UK.

Even though the Google move is only a rumour at the moment, albeit a fairly well based rumour, there is concern that the "free to estate agents" service could change the dynamics of the UK property sector and at very best reduce profit margins for companies such as Rightmove. However, on the plus side it has to be noted that Tesco, News Corp and the Daily Mail have all tried to grab market share from the likes of Rightmove and ultimately failed, leaving the marketplace with their tails between their legs.

To get the best out of your estate agent you need to be talking to somebody who has their finger on the pulse, people on the ground in the property market and can predict sudden movements at very short notice. Whether Google has issued this particular snippet into the press to offset the negative press comment regarding "free content news" is a debatable point because for the first time in many years Google is not having everything its own way.

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