Not content with directing us around the web, Google wants to direct us to our next house too. Reports that Google is to branch out into the UK property industry are being taken pretty seriously by those slick haired, Hugo Boss wearing city-boys. Early reports led to a 10% decrease in the value of Rightmove on the FTSE in one day.
Google has yet to formally announce its intentions, but according to the BBC Britain is about to get a property service similar to the one Google is currently running in Australia. Launching next year, Google will allow estate agents to list their properties in a layer on Google Maps complete with Street View pictures and detailed listings.
Prospective buyers and renters can then browse properties from the comfort of their own homes. Although some of them might not live in comfy homes – hence the need for a new place to live.
Sarah Beeny of Channel 4’s property ladder said: “If it does what Google says it will, then it brings the buyer and seller closer together and that could mean removing blocks in the way, and that could mean no longer having to pay extortionate fees to estate agents.”
So far, only estate agents in the know have been commenting on the plans, with Google yet to confirm them. However, the idea sounds promising and not just for estate agents, who will have access to a huge customer base. If customers don’t have to keep paying the incredibly annoying and expensive middle-man fees then Google’s move into the property world could be good for everyone. Except Rightmove, of course.
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