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Online Property Threatened by Google
According to top media sources, Google are currently in talks with Estate Agents to launch a new free property portal which could threaten the survival of existing property websites.
Set to launch in early 2010, this portal could potentially attract substantial advertising revenue which in the long term could stop Estate Agents from advertising on property websites such as Rightmove.
Based on a similar model used in Australia, Estate Agents will be able to use pictures taken by Google’s ‘Street View’ service and map details and post them on this website for free.
And as long as it stays free, Google could become the leading property portal on the internet, namely because Estate Agents will be able to save on the cost of advertising their properties.
A spokesman for Rightmove though believes that brand visibility and logo will keep agents advertising on their website as Estate Agents are looking more to raise their brand awareness, than get more of their properties online.
For the moment, debate continues to be thick as experts consider the long term implications that Google’s decision could pose. Should it prove to be a success and existing property websites won’t be the only ones feeling the pinch. Newspapers too will be hit as consumers are given more free advertising options.
More about the author of this article
Peter Franklin, Property Mentor Delegate
With 15+ years of property investment experience under his belt and an extensive knowledge of stocks and shares, Peter Franklin has learnt how to make a profit the hard way. If he has learnt anything from his time investing in property in the early 1990’s, right through to the height of the property boom of 2007, it is the importance of using proven investment strategies. Read more
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