And he says those portal costs are contributing to as many as 10 agencies goes bust each week, with Rightmove named as the chief culprit.
May says the number one portal has been accused by agents of charging crippling fees and putting the squeeze on independent firms, many of which are now beginning to voice concern about their situation.
“Property portals are undoubtedly a main driving force for the industry and are here to stay, but what good is a portal without the agents supplying the properties?” asks May.
“In theory, portals should work for the agent not against them, yet in practice this rarely is the case,” he says.
He says the major portals justify their charges by suggesting the cost is a trade-off against leads generated and the profit an agent makes from successful leads.
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