As a result of causing such a wave of discontent, Rightmove lost 20% of its value between 17 March and 20 March 2020, equating to £1bn.
OpenBrix has outlined its displeasure in Rightmove’s COVID-19 mitigation pricing strategy, labelling it “PR calamity of the year for its insensitivity”.
In response to Rightmove’s pricing structure, over a 1,000 disgruntled agents joined a Facebook group within an hour, “to plan a revolution and to vent their frustration at the money-hungry juggernaut,” OpenBrix outlined.
As a result of causing such a wave of discontent, Rightmove lost 20% of its value between 17 March and 20 March 2020, equating to £1bn, the firm added.
Rightmove’s initial support plan was a ‘strings attached’, part-deferral of some fees for a short time.
From April, OpenBrix is set to offer agents 100% free listings until the coronavirus situation improves, with an ongoing monthly fee thereafter of £100 per agent.
The platform has been designed and built using blockchain to assist complete transparency to both agents and customers.
Furthermore, looking at pricing, OpenBrix said that agent pricing would be made by member agents themselves.
Adam Pigott, chief executive of OpenBrix, said: “The arrogance and insensitivity displayed by Rightmove is their Ratner moment.
“When giants fall they fall hard and it’s evident that the Rightmove board have created themselves an issue here that may be their undoing in the face of a global economic crisis.
“Their ill-considered response was to throw some meaningless crumbs at their customers, a base that has faced three serious financial challenges in just twelve years yet, each time, Rightmove has ignored the industry’s plight and even put prices UP’.
‘Isn’t it time that a property portal existed that was actually on the agents’ side, but genuinely so?”
