Rightmove dispute
Discussion
Anyone selling ? Rightmove getting sued by hundreds of estate agents as per news.
However we've got our mums flat up for sale through a small firm. By chance I looked on rightmove and it had gone, as had all their other properties. A quick call and something mentioned about this dispute and we'll call you back - no call back, presumably won't hear until next week being BH weekend.
I guess it's leaving us to look at the contract details - but heyho we can't find them, happy days.
However we've got our mums flat up for sale through a small firm. By chance I looked on rightmove and it had gone, as had all their other properties. A quick call and something mentioned about this dispute and we'll call you back - no call back, presumably won't hear until next week being BH weekend.
I guess it's leaving us to look at the contract details - but heyho we can't find them, happy days.
sherman said:
We sold recently.
Our estate agent had us up on
Rightmove
Zoopla
ESPC
&
Their own website
We accepted an offer after 15 days and 7 viewings.
I dont think a dispute with Rightmove would have affected our house selling as fast as it did.
My mums is sheltered housing for the over 55's, pretty notorious to sell due to management fees so really need Rightmove. Nothing on Zoopla either, just the agents website. Nice of them to let me know. I know the fees are high perhaps impacting some of the smaller agents. Our estate agent had us up on
Rightmove
Zoopla
ESPC
&
Their own website
We accepted an offer after 15 days and 7 viewings.
I dont think a dispute with Rightmove would have affected our house selling as fast as it did.
I was selling an investment property last year. Used the same agent for literally decades. Not on Rightmove. Too expensive. We did a join agency deal ( that they arranged ) as I said being on Rightmove was not optional. It sold.
Sadly the best platform has the liquidity of buyers and sellers. EBay. Auto trader. Rightmove.
Auto trader has traders leaving also.
It is a shame when rather than take decent returns they get greedy.
Sadly the best platform has the liquidity of buyers and sellers. EBay. Auto trader. Rightmove.
Auto trader has traders leaving also.
It is a shame when rather than take decent returns they get greedy.
Jeremy-75qq8 said:
I was selling an investment property last year. Used the same agent for literally decades. Not on Rightmove. Too expensive. We did a join agency deal ( that they arranged ) as I said being on Rightmove was not optional. It sold.
Sadly the best platform has the liquidity of buyers and sellers. EBay. Auto trader. Rightmove.
Auto trader has traders leaving also.
It is a shame when rather than take decent returns they get greedy.
About to put my house up and this isn't good reading. Sadly the best platform has the liquidity of buyers and sellers. EBay. Auto trader. Rightmove.
Auto trader has traders leaving also.
It is a shame when rather than take decent returns they get greedy.
Greed is the norm these days sadly, for what I sell eBay classified ads work for me but gave up selling parts years ago, to many fees and courier hassles.
Shame, done it for years without issue, had loads of rare classic Ford parts, sent them all over the world, everything from EBay through couriers to storage started getting to expensive and hassle.
Unless you’re selling the kind of place that demand is so high for that you can just put up a home made For Sale board and wait for the phone to ring, I think you’re snookered without Right Move. In the last 9 months we’ve sold my fiancee’s flat and my house and have found and bought a house between us. In that time we’ve virtually lived on Right Move and none of those three things would have happened without it.
When we were looking last year, I spent many hours, to no great effect, looking for places which were not on Rightmove.
I can see why a lot of people wouldn't bother.
I did take an interest in a few properties which were not on RM, but they were direct introductions from agents who had not got around to putting places on RM.
There are a few 'specialist' properties you are better off seeking elsewhere, auctions, building plots, 'projects for the insane' and maybe smallholdings.
It's almost at the point that rather than moan about the RM costs, we should be asking about what value an Estate Agent adds to a Rightmove listing.
I would be among the first to say that isn't zero, but reality is, Rightmove finds houses for buyers, and hence buyers for houses.
There are parallels with employment websites, where you have agencies, search engines which cover many agencies, and search sights which attempt to cover the search engines?
I can see why a lot of people wouldn't bother.
I did take an interest in a few properties which were not on RM, but they were direct introductions from agents who had not got around to putting places on RM.
There are a few 'specialist' properties you are better off seeking elsewhere, auctions, building plots, 'projects for the insane' and maybe smallholdings.
It's almost at the point that rather than moan about the RM costs, we should be asking about what value an Estate Agent adds to a Rightmove listing.
I would be among the first to say that isn't zero, but reality is, Rightmove finds houses for buyers, and hence buyers for houses.
There are parallels with employment websites, where you have agencies, search engines which cover many agencies, and search sights which attempt to cover the search engines?
DT1975 said:
They rang back and explained rightmove were charging them £3k a month so couldn't afford it anymore.
Shame for them, small business trying to get a foot in the market but we'll move elsewhere. I'm not in a position to mess about, we now need the place sold to pay for care home fees.
And so, if the trend continues, there will be one Rightmove and only one really big rich estate agent. I wonder which one will buy the other?Shame for them, small business trying to get a foot in the market but we'll move elsewhere. I'm not in a position to mess about, we now need the place sold to pay for care home fees.
DT1975 said:
They rang back and explained rightmove were charging them £3k a month so couldn't afford it anymore.
Shame for them, small business trying to get a foot in the market but we'll move elsewhere. I'm not in a position to mess about, we now need the place sold to pay for care home fees.
£3k per month - so the commision on roughly one average priced house sale per month to cover the Rightmove costs?Shame for them, small business trying to get a foot in the market but we'll move elsewhere. I'm not in a position to mess about, we now need the place sold to pay for care home fees.
I imagine volumes have crashed in line with the economy (even if prices have yet to fall), but you have to wonder what their other overheads are (office rental, payroll, telephone, internet ... ) versus how many houses they are (or aren't) managing to sell, if Rightmove is the straw that has broken them.
DT1975 said:
My mums is sheltered housing for the over 55's, pretty notorious to sell due to management fees so really need Rightmove. Nothing on Zoopla either, just the agents website. Nice of them to let me know. I know the fees are high perhaps impacting some of the smaller agents.
Trying to sell exactly the same at the moment. Is on Rightmove but man it's slow, just reduced 10k & still tumbleweed. RM and AT both make around 75% gross profit margin, but still continue to push their customers for more and more £, I guess that’s why both sets of customers are getting pis*** off. On The Market was set up by some big agents to try and break RM’s stranglehold, but it never got close.
blueg33 said:
It s always been expensive for agents to advertise. When I had my agency in the early 90 s you had to advertise in the local newspaper and the local free paper. It was easily £500 per week. Makes RM look cheap for global reach.
It's not really surprising that advertising is a big cost for estate agents.Advertising vendors houses is a big slice of the service they provide.
When our place was on the market, having it on Rightmove was explicitly in the contract with the agents.
If agents are not putting houses on RM, they need to be explaining to vendors how they are going to find a buyer.
The difference between RM and AT is that Joe Public can advertise his car directly on AT.
If RM started doing that, the estate agency world might be re-shaped?
Do developers go direct to RM without an agency in between?
OutInTheShed said:
blueg33 said:
It s always been expensive for agents to advertise. When I had my agency in the early 90 s you had to advertise in the local newspaper and the local free paper. It was easily £500 per week. Makes RM look cheap for global reach.
It's not really surprising that advertising is a big cost for estate agents.Advertising vendors houses is a big slice of the service they provide.
When our place was on the market, having it on Rightmove was explicitly in the contract with the agents.
If agents are not putting houses on RM, they need to be explaining to vendors how they are going to find a buyer.
The difference between RM and AT is that Joe Public can advertise his car directly on AT.
If RM started doing that, the estate agency world might be re-shaped?
Do developers go direct to RM without an agency in between?
Most developers use an agent to access rightmove as they generally appoint an agent in any event.
I’ve had my house on the market from September to February and have jokingly described Rightmove as the Autotrader of the estate agency world - seems I was right. To the agents I have been dealing with RM is the be all and end all.
If you wish to take your property off RM there is an 11 week waiting period to lose the visible ‘added on xx/xx/xx’ date marker. After five months of being for sale with no acceptable offer I asked the agents to remove it from RM for 11 weeks with a plan to re-launch it with a new start date in May. They said “Oh you want us to take it off the market?”. “No, I just want you to take it off RM”. Awkward silence - “ surely you sell property via your shop window, your website, your potential buyer database?”. “Umm I think we might of sold one house before it got to RM…..”.
So yes, the EA’s I was dealing with have little concept of any marketing strategy beyond RM and I guess they just cough up whatever fee RM demand.
If you wish to take your property off RM there is an 11 week waiting period to lose the visible ‘added on xx/xx/xx’ date marker. After five months of being for sale with no acceptable offer I asked the agents to remove it from RM for 11 weeks with a plan to re-launch it with a new start date in May. They said “Oh you want us to take it off the market?”. “No, I just want you to take it off RM”. Awkward silence - “ surely you sell property via your shop window, your website, your potential buyer database?”. “Umm I think we might of sold one house before it got to RM…..”.
So yes, the EA’s I was dealing with have little concept of any marketing strategy beyond RM and I guess they just cough up whatever fee RM demand.
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