Rightmove is today launching a major ‘get your price right’ campaign aimed at consumers.
Aimed at preventing over-ambitious asking prices and to manage expectations, it will encourage sellers and landlords to get their ‘Market Intelligence’ from their Rightmove agent.
As part of the campaign, Rightmove has invested in a cutting edge html5 interactive video which allows users to enter a specific postcode and then takes them on a journey around their local area.
During the journey, users will be presented with a range of local market intelligence such as local house price trends, rental market yields and property presentation tips.
The highly original campaign looks set to steal a significant march over challenger rival Zoopla.
Rightmove director Miles Shipside said: “In a market where new sellers outnumber successful buyers by an average of around 2:1, it’s important that vendors have access to the right market intelligence about what it takes to sell.
“Our Market Intelligence campaign will drive home the importance of Price, Presentation and Promotion, complementing and supporting the key messages that many agents regularly use.
“We know that a property gets the most interest on Rightmove when it is launched as a new instruction or relaunched, for example with a price reduction.
“The contributing factors that have the biggest impact on these are the three Ps, so it is imperative sellers and landlords consider them carefully.”
The Market Intelligence campaign will be highly prominent across the Rightmove website over the next few months.
The campaign’s innovative html5 interactive video will sit within a dedicated landing page microsite featuring a variety of further property market intelligence tools.
The reach of the campaign will also be broadened by significant investment in a digital advertising campaign across a series of major consumer websites.
Agents can also receive Market Intelligence-branded promotional materials if they wish to maximise link-up with the campaign.
Shipside added: “The importance of intelligent research and the three Ps in selling and letting are all key messages that good agents have been using for many years.
“Our aim is to leverage our exposure with the home-moving public to drive home those messages this summer on behalf of Rightmove advertisers.
“In a competitive market it’s vital that vendors and landlords understand the importance of finding a winning combination of an attractive price, compelling photographs and an alluring description.”
The video can be accessed here: www.rightmove.co.uk/intelligence
Comments
When I saw the headline - "Get the price right" - I thought for one moment that Rightmove were offering to get their own pricing in order. But no. Some agents are paying 30 times as much as others to Rightmove per month....I kid you not.
Why be negative, anything that helps has to be good? However, its just another RM initiative to make agents continue follow like sheep as vendors tell them they want to be on RM. Oh and then bleat about it as normal!
What a load of rubbish that site is, talk about stating the obvious, tell me something I don't alrready know!
Looks like Mr Magoo is back and ranting at the moon again! It must be a real worry being in charge of a business that you are solely responsible for destroying!
@Hula Hoop
We will have to put aside the fact that you were on here at gone midnight which is a mild worry but I assume Mrs Hula Hoop doesn’t mind / care that you were getting all fizzy on here in the middle of the night about EA’s going pop.
Anyway, you are of course right, well sort of but EA’s will continue to go bust and start up like any business sector but not because of RM doing the job from an Indian call centre, in fact now RM are helping the drive for sensible pricing it could help the most hopeless of EA to at least have a chance at getting the price right, that will help you as you will know what you are looking at is the right money and you can be less cross and spend your evenings doing something more worthy of your time and it will help the EA industry as we will see the benefit of the increased volumes that the HPC’ers promise will come when prices drop [INSERT YOUR PREDICTION HERE] % - these HPC guys are clever too, they spend a lot of time and effort analysing every snippet of news and data so are definitely right on the price / volume thing
Im assuming by your ‘bloke in the pub’ tone you know very little about EA’s and are basing all of it on some light / low level dealings on a couple of occasions in the past but hopefully by hanging round EAT with us lot you will become better informed in time.
Jonnie
Why post here if you're not interested in discussion or debate?
Nobody knows who you are, you're posting under an assumed name or no name, so why?
What good does it do for you to post here and then effectively tell us not to query your pronouncements ...?
I definitely agree with the 50% less agents in three years. I have no idea how some of them are still around now.
Too many people jumped on the bandwagon during the golden years, there simply aren't and won't be enough sales to share between the hundreds of agents in each area.
Agents that think otherwise are (in my opinion) in deniaI.
I too am not open to arguing this point or debating it (lol)
(I am an Estate Agent. )
Hula Hoop;
"I'm not interested in debating or arguing this"
...so basically, you're telling the rest of us not to query your point of view, and leave your post in place as the last word on the subject....?
"Rightmove are now dictating the market and thats all their is to it. What happens next is that a buyer challenges your 'market appraisals' based on what Rightmove says. "
So what if they do? Does that carry any more weight than a seller 'challenging a market appraisal' based on a valuation estimate from Zoopla?
And if the seller does challenge it, what then? He'll sell it through Rightmove himself? Oops, no - they don't take private seller's adverts.
Face it people, the EA is on the way out.
Rightmove are now dictating the market and thats all their is to it. What happens next is that a buyer challenges your 'market appraisals' based on what Rightmove says.
As soon as that happens youre on a one way ticket to being a Rightmove call centre operative. Until they pack that off to India, like the bank jobs.
All of this is because EAs have failed to moderate 'market appraisals' and 'manage vendor expectations'. You were so slow, so opposed to change in the market and the industry that you've now been left behind.
I'm not interested in debating or arguing this but, regardless of whether prices fall or not, I'd bet that 50% of agents will be out of a job within 3 years.
Clearly this site is trying to spell out what works and what doesn't to new and less experienced vendors (allot of the housing boom first-time buyers are now staring family and need more space etc) so EA's get a better chance at selling the properties - it gives some good honest information on what the experts are saying and what allot of vendors seem to either ignore or feel a little unsure about even when you try to spell it out in black and white!
Hopefully this will reverse the recent trend in people just not really doing enough to present the properties well enough for the buyers to bite and we can all benefit from this shared wisdom being placed firmly at the heart of the site - which (love it or hate it) is arguably the most popular property site out there.
I look forward to Foxton's rival software; '10 reasons why your home is worth 20% than your neighbour'.
Still, this can only be a good thing if it brings the kite-flyers a dose of reality. Were I an EA i'd welcome this.
@ Chas
Why ever not ?
I can't believe that EA's are such spineless wimps that they need Rightmove to do their dirty work (otherwise known as telling the truth) for them.
Rich, whilst you may snigger at your own sarcasm, it is quite evident that 99% of vendors do not realise this.
Never occured to me that if the property was the right price it would sell
I lost an instruction last week because I told a vendor (in polite terms) that she needed to tidy up a bit.
Sometimes in this business you can't do right for doing wrong, so IMHO anything to help support what we are saying and steer vendors away from over pricing should be seen as a good thing.
I applaud the thinking behind this but the execution is too clunky and over complicated.
Worked ok (ish) on my computer but failed on the android.
"Aimed at preventing over-ambitious asking prices and to manage expectations" - how about thety start applying this with their own prices!!!
Thank you Rightmove, oh God of all things property, for telling our vendors what we cannot tell them ourselves.
And I thought that not many browsers are actually supporting html5 yet.
Put in my postcode over 10 mins ago, and the 'cutting edge' app is still thinking about it, and showing the 'loading' icon......