Agents who complain about the price of Rightmove aren’t using it properly, industry figures have suggested.
The claims were made in the latest episode of the Agents MVMT podcast, which discusses “If Rightmove is the devil, why have so few agents banished it?”
Podcast guest Perry Power, of Power Bespoke, suggests it is only “non-proper” agents who hate Rightmove.
He said: “It is agents who can’t convert stuff that struggle to pay Rightmove £3,000 per month.
“If you get 20 enquiries per month from people with properties to sell and convert half into advice meetings and half into signed clients, then that is £30,000 per month based on the average £6,000 fee off of free clients.
“What you have paid Rightmove for is enquiries on the houses. If from 20 enquires, five go on to buy the property, that’s another £30,000.
“If you have been a proper agent and converted those properties not on the market into clients and banked them… then it is too cheap.”
Sophie Lang, of Lang Llewellyn & C,o agreed that many agents incorrectly see Rightmove just as a cost rather than “squeezing everything out of it” such as prospecting tools.
Joe Parry, of Archer & Co, added that the high costs of Rightmove create a barrier to entry so towns aren’t overrun with agents. He suggests that agents should charge “proper decent fees” to cope with the price rises.
View the full podcast recoding below.