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sancho panza

Rightmove hikes prices 20%:EA's are squealing.

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Rightmove,calling the top of the market.

Decl:short RM

https://www.propertyindustryeye.com/rightmove-defends-20-price-hikes-after-agent-says-it-will-cost-it-18000-more-in-tough-market/

'A three-branch estate agent in the Home Counties says it is being “held to ransom by Rightmove” which is raising its subscriptions both this year and next.

The agency says that the hikes mean that it will be paying £18,000 more over the next two years, for what he believes will be the same package.

For one of its branches, the increase will be £400 per month.

The agent said he viewed the rises as “disgusting in a tough market” and said he had been told they were non-negotiable.

The agent also claimed that firms in their county were being charged more than central London agents.

However, Rightmove robustly defended the price rises and said it was changing its packages.

Last night a spokesperson told us: “Just over a year ago we let agents know that over the course of 2018 we would be replacing our legacy Gold and Premium packages with the three current membership packages: Essential, Enhanced and Optimiser.

“Each package puts an agent’s brand and properties in front of the UK’s biggest home-hunting audience, gives them the use of market intelligence reports to help them win business, and offers access to Rightmove’s training events.

“The Essential package is for those who want to access the most engaged home-hunting audience, Enhanced is for those looking to grow their market share, and Optimiser is for those who already are or who have ambitions to become market leader in their local area.

“The package costs reflect the level of exposure that an agent gets on Rightmove.

“On average an agent’s brand on the Optimiser package is seen 36 more times by home-hunters on Rightmove than an agent’s brand on the Essential package.”'

 

Comments are amusing as ever.

Eyereaderturnedposter12

Having returned from a brief trip abroad, I found that Rightmove had helpfully sent a letter confirming their 19.22% price increase to each of our branches, one would have sufficed (to HO)…

Our Rightmove account Manager will have opened her inbox this morning to an email from me (and I am sure many other agents) entitled- ”This cow will be milked no further”.

Breath-taking arrogance on RM’s part.'

 

frostieclaret87

Bloated thieves making a final attempt to gourge on the stinking cash cow before it rots.

Couldn’t care less about the outcome on the customers as long as they maximise the amount they can extract from them by abuse of their position.

If all the agents in each town were smarter and all refused to use RM then the buyers would have to follow the stock. Unfortunately many are too stubborn and are happy to be shafted by RM rather than work with their colleagues in their mutual interest.

 

 

 

Flatnose1927

Funny isn’t it? Classic business model: Business becomes large and successful; business starts to believe own BS; business starts to view clients as a necessary but distasteful evil, to be told what’s good for them; business wakes up one morning to find another business has overtaken them.

This is what will happen to Rightmove in time. My wife called the rep out on the various fancy upgrades/ packages and when she finally got them to reveal the stats, even they had to admit the basic package is the only one that makes sense. Which made us very angry as it took us three months to finally pin the guy down – and each time he avoided us our old package (more expensive, lots of bolt-ons) continued to roll on…

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" So far I don’t miss it and am spending the £840 (including the amount they were trying to up our fees by) saving on other areas of the business, social media, google, training etc "

It'd be much more prudent to look at saving the additional costs caused by Rightmove's decision, from other areas of the business. But then EA's aren't generally very good business people - much like publicans, which is why so many of them go to the wall.

I do however think there's a gap in the market for a decent, free listing service which then charges "premium" extras. Zoopla, RM and Onthemarket all charge excessive fees from the outset.

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10 minutes ago, sancho panza said:

Couldn’t care less about the outcome on the customers as long as they maximise the amount they can extract from them by abuse of their position.

 

Said without a trace of irony, I assume.

How do you like them apples pal?

 

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1 minute ago, spunko2010 said:

" So far I don’t miss it and am spending the £840 (including the amount they were trying to up our fees by) saving on other areas of the business, social media, google, training etc "

It'd be much more prudent to look at saving the additional costs caused by Rightmove's decision, from other areas of the business. But then EA's aren't generally very good business people - much like publicans, which is why so many of them go to the wall.

I do however think there's a gap in the market for a decent, free listing service. Zoopla, RM and Onthemarket all charge excessive fees.

I have to agree Spunko. I'm genuinely amazed at the fees they all charge for something that's slightly easier on the eye than Gumtree.Quite why tesco haven't stepped in here,I don't know.

 

My own personal view is that over time RM will either become an online estate agency itself,or Purple Bricks and the like will kill it off.

I declared my short,but for me this is a stupid decision at or near the market peak and RM's hubris is reminiscent of the sort that led to Countrywide overpaying for small EA's and then screwing tenants on fees to the point that they had few customers left.

I for one will enjoy watching RM drop to nothing and will hopefully profit from the ride.

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that's basically what Autotrader does. 

It works for lazy viewers. I would think that anyone seriously looking for a house would figure out how to filter all the ones that fit their criteria, regardless of indexation?

Still, any kick in the teeth for estate agents is a good thing. A recent interaction with one reminded me of why I despise them. 

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Just now, Lavalas said:

Said without a trace of irony, I assume.

How do you like them apples pal?

 

Exactly Lavalas.

As Oscar Wilde observeda bout fox hunting

'The unspeakable chasing the inedible.'

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It wouldn't take long to put together an altenative version of the Rightmove website with all the basics represented, saved and email alerts, etc - would just require paying for the PAF (postcode) database.

I'm guessing that Rightmove are having to pay more and more to advertise since they themselves now have competition - so in effect estate agents are paying Rightmove to pay for advertising to maintain Rightmove's traffic volumes.

That's where it would fall down.

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1 hour ago, DTMark said:

It wouldn't take long to put together an altenative version of the Rightmove website with all the basics represented, saved and email alerts, etc - would just require paying for the PAF (postcode) database.

I'm guessing that Rightmove are having to pay more and more to advertise since they themselves now have competition - so in effect estate agents are paying Rightmove to pay for advertising to maintain Rightmove's traffic volumes.

That's where it would fall down.

Didnt a posse of EAs and builders do just that a couple of years ago and not many people use it.

Quite simply RM is the Google of house searches. 

49 minutes ago, Cosmic Apple said:

But prices going up is a GOOD thing... we've been told for decades this is the case... all those houses going up 2-3% a month is good why is this any different?

Cunts.

hahahaha oh how id love to see someone go into an EA office and say just that on a day when several sales have fallen through.

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1 hour ago, DTMark said:

It wouldn't take long to put together an altenative version of the Rightmove website with all the basics represented, saved and email alerts, etc - would just require paying for the PAF (postcode) database.

I'm guessing that Rightmove are having to pay more and more to advertise since they themselves now have competition - so in effect estate agents are paying Rightmove to pay for advertising to maintain Rightmove's traffic volumes.

That's where it would fall down.

Maybe there should be a DOSBODS Society where we all together create & run a useful website for the good of the people, share development etc. There seem to be a lot of developers on here. :ph34r:

One of the other issues is also with regards to copyright - the estate agent photos that appear on RM are bizarrely their property not the EAs. I suppose you could quite easily scrape the images from the EA's websites directly along with any other information.

Word of mouth would have to be the way to go for anything like that. Perhaps something like OnTheMarket did with their draconian rules dictacting that you can't advertise on them + Rightmove, but turning that on its head: You can advertise on all three if you want but you have to display our little sticker/logo prominently in return for free coverage. I don't know, there are loads of possibilities. But it's fair to say that going by the PIE link above there's a lot of anti-RM sentiment to capitalise on...

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2 minutes ago, Banned said:

Didnt a posse of EAs and builders do just that a couple of years ago and not many people use it.

Quite simply RM is the Google of house searches. 

hahahaha oh how id love to see someone go into an EA office and say just that on a day when several sales have fallen through.

Yep - the internet creates monopoly's because the site with the most content becomes the one stop starting point. For search that is google, for shopping Amazon and for UK property rightmove...

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4 minutes ago, eek said:

Yep - the internet creates monopoly's because the site with the most content becomes the one stop starting point. For search that is google, for shopping Amazon and for UK property rightmove...

I'd argue it's because the alternatives are all infuriatingly bad. Has anyone tried to use OnTheMarket? The map link takes 10s to find FFS.

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15 minutes ago, spunko2010 said:

I'd argue it's because the alternatives are all infuriatingly bad. Has anyone tried to use OnTheMarket? The map link takes 10s to find FFS.

You may be right but the Field of Dreams argument "If you build it, they will come" died in 1994 with Yahoo. 

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"and we were told it was non negotiable"...I can remember an EA/Letting agent saying that to me about their exorbitant tenant fees, that just before I walked away....by Spring 2019 it looks as though they will have their double whammy of bad karma, what with this RM increase and the legal abolition of tenancy fee...`What goes around, comes around` :-) :-) :-)

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50 minutes ago, MrXxx said:

"and we were told it was non negotiable"...I can remember an EA/Letting agent saying that to me about their exorbitant tenant fees, that just before I walked away....by Spring 2019 it looks as though they will have their double whammy of bad karma, what with this RM increase and the legal abolition of tenancy fee...`What goes around, comes around` :-) :-) :-)

2 moves ago,we got done for £600 by a Countrywide brand for fees.

Luckily we could afford it,but that doesn't make it right.Personally,I'm enjoying watching these parasites squeal and as you and Lavalas have ooiinted out,at least now these people will learn how it feels to get screwed by a sanctimonious,smug counterparty.

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9 hours ago, Bear Hug said:

This looks like another nail in Countrywide's coffin.  Great news.

Countrywide was an initial Rightmove shareholder....

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1 hour ago, sancho panza said:

Interesting they talk about Tesco having overstepped the mark by providing an EA service without the EA service.

Should have stuck to advertising it.

Re the:

Quote

But the venture ran into problems and the OFT ruled that Tesco was providing more than an advertising service and would need to meet all the criteria of a traditional estate agency, including having people on the ground checking the property descriptions were accurate. The retailer ended privates sales on the site as a result.

Gumtree advertise private sales?

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