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TODAY'S OTHER NEWS

Should agents use Rightmove price hikes to raise their own fees?

Agents should use the recent Rightmove fee hikes to increase their own charges, senior industry figures have claimed.

Speaking on the latest Agents MVMT Pass the Syrup podcast, Joe Parry, director of agency brand Archer & Co, suggested there are positives to Rightmove putting its rates up.

He said: “I don’t agree with the price hikes all the time but like any trader, when costs go up, it should be passed on. 

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“What does a butcher do when the price of meat goes up? 

“Our costs are going up but agents seem to be putting fees down.”

Parry also suggested that Rightmove’s fees provides a barrier to entry.

He said: “If Rightmove was £500, each town would have three times as many agents and loads of different fees.

“It keeps the competition on its toes and keeps new competitors out.”

Industry figure Chris Buckler, whose role at Keller Williams London Bridge ends this week, also appeared on the show and backed these claims.

He suggested Rightmove needs to do better at communicating with agents but added that firms should either put their fees up and work with Rightmove to get more value or support an alternative.

Watch the full podcast below:

Poll: Should agents raise their own fees in response to Rightmove price hikes?

PLACE YOUR VOTE BELOW


  • icon

    I disagree with Rightmoves fees, when they first came out many moons ago, they offered £25 pounds a month.
    We had marketing packs, pens, pads, umbrellas, they came to see the agents.
    Now you don’t get nothing but an 22k a year fee.
    So prices have to increase which means clients have 4/6 valuations and use the fees against you.
    So even once you have the instruction you fee is spent of Rightmove.
    Leaving you 0 profits in 2023-2024
    They do not care about a Customer just money
    I hate to use them, if my clients didn’t ask for Rightmove, I would drop them

  • icon

    Rightmove only care about their shareholders nowadays. I completely agree with the statement above. There is no customer service anymore and I think Rightmove have forgotten who their client is

  • Proper Estate Agent

    Anyone that likes Rghtmove is a clown. It's full of bugs, some major that I've reported. Bet you didn't know that the public were able to access the status and price of your properties even when INVISIBLE! via an iPhone only - no neither did the rightmove clown show! Ever wondered how your properties got touted so easily??? because they ID'd the house in the advert until I pointed out how dumb they were being....and they then put the fee up!

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    Their pricing is disgusting, as is their attitude to clients. We're on their "geographic letting pricing model" as we cover the whole of the country. They take the average number of lettings listings for high street agents, and then charge us a branch rate for each of that number that we have live. It was meant to even up the costs between high street and online agents, but the average number is reassessed every 3 months, so we started at an average count of 21, and now it's 10, and every 3 months that's reassessed, so how on Earth do you work out what to charge? You can't change your pricing 4 times per year!

  • Hit Man

    I hope the that Agents who use RM do increase their fees that means I will take more business from them My biggest fear is if they all came off RM then they will be able to compete with me on fees, but Im positive they will stay because they are week until, they realise that they really don't need Rightmove anymore.

    Proper Estate Agent

    It's worse that you're happy that people will only use you because you'd be cheaper. By your own admission, you can only take business then if you're cheaper, so by virtue you're admitting the other agents are actually better when fees are the same.
    Agents like you is the reason rightmove hike their fees; learn some economics.

     
    Hit Man

    'Proper Estate agents' don't need RM and are not scared of leaving I can afford to keep my fees cheaper and do a much better job of selling without them so by virtue that makes us better agents.

     
  • Hit Man

  • icon

    The customer does not give a poo about how much RM charge it is not their proplem

  • icon

    I wonder what would happen to RM share price if all agents removed their stock from RM for a week/month?

    Proper Estate Agent

    Plummet - like it would if ALL agents removed their add on's, but alas they are too stupid and too worried about their competitors. We sell 50% of stuff that has nothing to do with RM and don't have ANY add on's at all.

     
  • icon

    RM dominates its particular market at present and probably for some time to come. Like Google, Netflix, etc it is the go-to brand for the public. Just like the weather, it is a given and so there is little alternative
    but to use it to your advantage as best as you are able to.

  • Antony Antoniou

    We don't use RM, which is liberating and it also ensures that we are not put in financial jeopardy, due to massive outgoings. In fact, we make a point of assuring clients that their property WILL NOT appear on RM, like all the rest, because we are proactive, if that is their priority, there are many agents who can offer that.

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