Thursday 17 June 2010

"Google goes house-hunting"

Unabashed by recent controversy surrounding the amount of information it stores, Google yesterday unveiled its new property listing service. Adding a house-hunting function to Google Maps UK, it provides all the vital housing-hunting information such as statistics on rooms, distances to amenities, price and location.

The service allows users to select a location and view available properties in that area. Indicated by small circles on the map, properties can then be sorted by price, features and type of property. The feature works in tandem with Google Street View, giving house-hunters the ability to gain a sense of perspective on properties. 

Signifying their serious commitment to the move, Google launched the service with a number of high profile UK partners. Among them are Countrywide, the UK's largest estate agent, Sotherby's Inernational and Spicer and Harrt.  However, one notable absentee form the service is Rightmove, the UK's largest property portal. Unlike Rightmove, Google does not charge agents to appear online. Rather, it intends to generate revenue solely from advertising.

Perhaps the most interesting element of Google's new offering is the inclusion of private sellers. Although a number of small niche services offering this feature exist, Google Property is by far the largest player to date. With the likes of Spicer and Harrt and Tesco offering online estate agency, the trend of property sales moving away from traditional high-street estate agents appears to be growing.

2 comments:

  1. This development by google may turn out to be a very significant one in years to come. Rightmove's share price has been very resilient since the launch but they must be concerned.

    By the way like the new changes to design of your site

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  2. Yes, I think it marks a major turning point in the way housing will be advertised from now on. I read somewhere, that the city had already factored in Google's service to Rightmove's share price back in Dec 09. Many friends pay upwards of £350/mnth to be on Rightmove (that's before any additional bolt-on upgrades!) How they combat googles essentially free offering will be interesting!

    Regardless, I'll be keeping an eye on both providers, as I can't see Rightmove staying an outsider for too long.

    Thanks for the compliment!

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