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Today's Headlines:

House prices fall or rise (take your pick)
4 comments
House prices went up slightly – by 0.4% – in July, the Land Registry has reported. It

Knight Frank stay quiet after conman is jailed
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A tenant who faked his identity when renting through Knight Frank has been jailed for three

Rich overseas buyers keep prime London market aloft
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Chinese buyers are expected to replace Russian investors as major players in the prime central London

Moving occasion: today's the day!
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The most popular moving date is today, September 1, the Post Office has revealed. The two next

Prospective first-time buyers sink to new low
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The proportion of buyers expecting to buy for the first time in the next 12 months

Housing market 'edging towards double dip' claim
2 comments
Net lending plummeted in July to the second lowest monthly figure since records began in 1993,

Henry Pryor Blog
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Welcome to a new monthly blog by Henry Pryor, estate agent turned entrepreneur, inventor and expert

Rightmove profits climb 39% as more agents sign up
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A rise in the number of agents and an overall willingness to pay more to Rightmove

Portal creates new 'check out your competition' stats
1 comments
Property portal Home has created some new statistic pages on its site which we reckon will

Six in ten mortgages are now for house purchase
2 comments
The proportion of mortgages being taken out for purchases, as opposed to remortgages, is at its

News Story

‘We're free,' says Globrix boss in rejoinder to Rightmove

Sunday 17th August 2008

Rightmove’s decision to impose new joiner rates on subscribing agents who want to give themselves a financial holiday from the site, has come under fire from a competitor.

The story was exclusively reported in Friday’s Estate Agent Today.

But Daniel Lee, chief executive of Globrix – a property search engine whose basic listing service is free – said: “What agents need more than anything right now is support. They need companies that are going to work with them and help them get through, not companies that will penalise them simply for trying to cut costs temporarily in what is a phenomenally tough market.

“The best business relationships are built on loyalty and support but Rightmove, clearly, is displaying neither. It is acting very much in its own interests, and those of its shareholders, rather than the interests of agents. Its actions almost read like a suicide note.

“For many agents, I’m sure, surcharges really will be the final straw.

“The days of subscribing to a portal are nearing an end, anyway — it’s an antiquated business model. Through Globrix, all agents can now market all of their properties, to sell and to let, for free. Many are already doing just that — we already list more than 860,000 properties across the UK.

“It’s hard to take any positives out of this market but I suppose one is that it’s helping agents to look at new, more cost-effective marketing opportunities. Looking back in a few years’ time, it could be seen as the time the way agents market their properties really changed."

Rightmove had said that its decision to charge the higher, new joiner rates to re-joiners reflected their desire to reward loyal agents who stayed with the portal month in and month out.

However, Rightmove also faces another new challenge, in the form of Property Live, the National Association of Estate Agent’s new portal. This will be a free membership benefit and its launch is just weeks away.

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Posted By Jason Cheeseman on Monday 18th August 2008 10:51:00

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It would seem that the head of PR for RightMove has his or her work cut out. Appearing to be 'profiteering' from the current malaise affecting the industry can only diminish RightMove further in the eyes of the estate agency profession. It makes the company vulnerable to the kind of 'holier than thou' attack that Globrix have sensibly launched. Yes many agents do still compelled to use RM - but many now do so through gritted teeth, and as the huge marketing budget of Globrix increases its profile with the British home-hunter it is probably only a matter of time before RM has to abandon the outdated subscription model.

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Editorial Contact Details - Rosalind Renshaw | rosalind.renshaw@estateagenttoday.co.uk | 01252 843 566.