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Rightmove Shares Tumble On Rival Fears

News that the National Association of Estate Agents (NAEA) will soon launch its own free website where members can advertise their properties has caused a strong sell-off in Rightmove shares which are now hovering above the £3 level. So what does this mean for the darling of the online property sector?

When you consider that the new NAEA site (which is currently in beta testing and set to launch later this year) will see the association's 10,000 members receive free access after payment of the £175 annual membership fee, as oppose to the £495 charge which Rightmove makes to its customers, it is easy to see why the sell-off has gathered pace. Is this the power of the internet or the NAEA abusing its position within the sector?

There are some who believe that the NAEA has stepped into an area of the market which puts it in direct competition with members with some suggesting that it is unethical. On the other hand we have seen the property market collapse over the past few months and members of the association are crying out for assistance.

Is this just a helpful hand to members or is the NAEA abusing its position in the market?

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