NEWS FLASH: Google bins its property maps search |
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Thursday 27th January 2011
Google Maps is to drop property, less than a year after the launch that threatened to change the entire property portal market.
The search engine giant had offered the service for free but blamed low usage.
In a totally unexpected move, which this morning its own press office did not know about when we asked them for a comment, Google announced that the property search feature will be dropped in all the countries where it operates, including the UK, on February 10.
Although some sites had struck deals with Google, notably Rightmove did not.
This morning, Rightmove's shares went through the roof, to £8.18, an all-time high.
In a low-key blog, Google vice president Brian McClendon announced its experiment is over, saying: “One of our key philosophies is to take risks and to experiment. To that end, in July we announced the ability to find property for sale or rent directly on Google Maps.
“This is one of the ‘search options’ next to the search box on Google Maps, and is currently available in the US, Australia, New Zealand, the UK and Japan.
“In part due to low usage, the proliferation of excellent property-search tools on real estate websites, and the infrastructure challenge posed by the impending retirement of the Google Base API (used by listing providers to submit listings), we’ve decided to discontinue the real estate feature within Google Maps on February 10, 2011.”
There is a hint that Google might, however, return to the fray.
The blog continues: “We’ve learned a lot … Yet we recognise that there might be better, more effective ways to help people find local real estate information than the current feature makes possible.
“We’ll continue to explore this area, but in the meantime, Google offers other options to home-seekers: you can still access other information in Maps such as local businesses, directions and transit times, as well as aerial and Street View imagery to explore where you might want to move, and also use Google search results to find helpful real estate information and websites.
“Real estate companies can also continue to use tools from Google to help connect with buyers and renters who use the internet to research properties. For example, companies can use the Google Maps API to embed customised maps that are useful to potential clients right on their own web pages.
“Our Google for real estate professionals site contains various methods for generating leads and improving real estate business operations.”
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(18) Comments | Report Abuse
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I read the story of Nike, during the downturn decades back, Nike put more money into advertising whereas Adidias and Reebok cut the advertising budget thinking that is a good strategy. Look who is on top now. Going for the cheapest portal but cost less but in the long run you will lose out. So when other property portals have a lower subscription, you need to ask why. They way zoopla are burning their cash reserves they won't last long before going under. They used to be numerous comparable websites. Now there seem to be only 3 that is worth talking about.
And soon they will be 1 ie Rightmove. I don't like it but I wish there is something we can do about this. |
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The departure of Google from the property portal market is no real surprise. However, agents should worry less about Rightmove and what is may do and more about their own presence on the internet.
Most agents forget that there are buyers and sellers and that there needs to be different strategies for each segment. Rightmove is great for sourcing buyers however perhaps not as strong for sourcing sellers. Agents should see their sites as tools for sourcing sellers. By taking this approach and investing appropriately in their own site, they can take control of sourcing sellers - the most important segment of the market. Simon Baker CEO Classified Ad Ventures www.propertyportalwatch.com |
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| its horses for courses! zoopla, findaproperty, work very well for u,s rightmove is very expensive and works no better...........other agents i know have moved off rightmove to no detriment, we are following suit next month. be brave believe in yourselves as agents.............there will be sales and activity without rightmove, line your own pockets not theirs. |
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Looks like Rightmove 1 Agents 0.
They said this model wouldn't work when i saw them last year and they were right unlike a lot of agents that moan on about a new Rightmove beating portal every few months, where are these portals now? They may cost a lot but they do know their business well. I use RM and Zoopla, Rightmove gives me 90% of my sales and most of my instructions, Zoopla supplies the other 10% and costs a fifth of the price. You do the maths! |
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PropertyLive III ought to be the first place NFOPP look to cut their Cloth.
It is a cliché that Agents can't market themselves, this embarrassing soap opera has been dragging on for what 14 years, Google have got the sense to give up for the time being, why can't NFOPP? |
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| Any property portal is a business. Businesses are created to make money, they are not charities. They charge what they can get, it's business sense and not to do so is stupid. Rightmove charge the most because they can. If everybody used zoopla, propertylive or any other "contender" and they became the market leader, you can bet your bottom dollar that their fees would be just as expensive. Put more houses on at the right price and do a good job, then you might be able to afford (allbeit extortionate but necessary) their fees. |
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Richard - is it just the NAEA site? I think not.
The Propertylive site is not the only problem. The NAEA (and ARLA etc.) who operate under the 'umbrella' name of NFoPP, have not yet realised the confusion caused by the 'merger' of the various disciplines, in both the public and the agents minds. They must get their act together, quickly. In my view the name NFoPP should not be prominently shown or advertised, it should be mainly the administrative body. NAEA and ARLA were well known for representing their separate individual qualifications, purpose etc, - Sales or Lettings. The public and agents knew what was what. Now? Who knows. |
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Anna - I know what you're saying but Rightmove, credit to them, have got themselved into a position where the vendor now demands Rightmove.
You can talk till you're blue in the face about how Zoopla delivers more leads (it does), and how Zoopla is cheaper (it is), but until vendors have heard of it, they will always insist on Rightmove, and if you're not on it, you stand little chance of winning that instruction. |
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| Another price hike expected from Rightmove then as a result of this news? |
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| Is the site down?? Not one post to use the failed NAEA site, even from a Fellow or have they finally, at last, realised the truth.......... |
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We all knew the model that Google offered and that it was not geared to offer any real competition to the other portals. For me, tedious is the best word to describe their offering.
The only surprise here is the timing, as they were always going to pull the plug on this - it offered no extra value to the user. They'll be back though for sure, hopefully with something a bit more imaginitive. The RM 'draw a search' is far better than Google's contribution. |
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| Google could now turn to a full marketing portal with lot's of clever features available to private sellers and others, they will be back!. |
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Google are not disbanding their property team, but ceasing the property search on maps as part of a world wide focus.
Rest assured - they will back Timing - unknown |
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| Hmmm. Looks like Rightmove business strategy was the right one after all. No need to celebrate though Rightmove can charge what they like now. |
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| I don’t think Google put their backs into the campaign, it seemed a bit half a**d to me. Shame maybe one of the best contenders yet for RM. |
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| Still don't understand why agents that moan about RM charges don't try some of the other property portals. There are lots out there that are on page 1 of Google, charge a lot less and don't advertise...they don't need to because they are already on page 1. RM may dominate the market but agents should look at alternatives. They would still get leads to their website AND save a fortune. Property Index, LocalPropertyIndex, InSpain, Kyero are but a few.... |
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| Neill – there are too many who gloated that Google were the end of RM to be celebrating, looking pretty silly this morning that lot! |
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| Agents shouldn't celebrate too fast on this news. Google may have ultimately encouraged private sellers, but for the foreseeable future agents will have to continue to pay through the nose in Rightmove subscriptions in order to fund the dividends to Rightmove shareholders. I'm expecting Rightmove to substantially increase their final dividend from 7p (June 2010). This morning Rightmove shares are up to 812p, a 52-week high and up 7.5p overnight. |
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Editorial Contact Details - Rosalind Renshaw
rosalind.renshaw@estateagenttoday.co.uk
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