Property Industry Eye is reporting that Rightmove is conducting an inquiry into agents gaming of the listing system by taking down properties and then adding them again as though they are new listings.
It is alleged that some properties are taken down after being advertised at one price and then re-added at a new (lower) price before shortly being marked as under offer. In theory this allows some agencies to claim that they are achieving a high percentage of the asking price.
A Rightmove spokesperson told Property Industry Eye: “We have a process in place for all data quality queries that we receive, which involves thoroughly researching the properties on our system and speaking with the agent in question, to find out if there is a legitimate reason for a property being added.
“We do not tolerate reloading properties as new and if there is found to be no legitimate reason for a property coming back on the market this is escalated in line with our process, and dealt with accordingly.
“This is an ongoing query and we can update you once it’s been completed.”
realestate.com.au addressed this issue in the early 2000's by requiring an agent to have an address on each listing and then not allowing that listing to be reloaded (once removed) as a new listing unless it had been off the site for over 2 weeks. If was it was re-listed within the two weeks, the original listing date was retained.