The estate agents believe they were misled by Agents Mutual, the owner of the OnTheMarket property portal, over promises made on joining that their subscription fees would always be equal to, or lower than, members who joined at a later date.
It has now been suggested that, instead, Agents Mutual have in fact been offering subscriptions at a much lower price, disadvantaging earlier members.
Iain White, consultant to the estate agency industry who organised the meeting, said:
“More than 200 estate agents representing businesses across the length and breadth of the UK have registered their interest in taking action against Agents Mutual. There are a lot of aggrieved property professionals who consider that they have been unfairly treated by Agents Mutual."
"On Monday morning our information session in Central London was full.
"The level of outrage among Agents Mutual members is significant. It’s understandable that these small business owners wish to protect their interests.
“Now is the time for Agents Mutual to provide urgent clarity on what pricing offers it has made to attract new customers since it launched.
"Affected firms are potentially out of pocket and have a portal which is not meeting their requirements, let alone achieving the success and volume of enquiries that they were promised in return for their early financial commitment."
A Steering Committee has been formed to manage the process on behalf of Action Group members.
Businesses affected by these issues are invited to register for more information about a potential group action by 16 May. They can do so by contacting email@example.com.
Tollers LLP, a leading regional law firm, have offered to represent the group together with barrister Ian Rees Phillips of 6 Pump Court in London.