The CEO and chief finance officer of Rightmove have been given share options to reward their performances last year and to incentivise them further.
At yesterday’s share price of around 495p, the options are together currently worth around £2.2m.
Peter Brookes-Johnson, 46, has been awarded 56,498 deferred share options as a bonus. He can exercise this option for 12 months from March 6, 2021.
He has also been awarded 204,746 share options which can be exercised over a period of two years from March 6, 2022, provided certain targets have been met.
Financial officer Robyn Perris, 45, has been awarded 40,579 deferred shares as a bonus, plus a further 147,056 deferred shares.
Last year, profits and revenue both increased at Rightmove, with the average monthly subscription per branch going over £1,000 for the first time.
Just Giving?
To Themselves!
Rightmove – a self serving Charity.
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Inherited wealth UK. Still not sure why the country stands for this.
No one is worth that much unless you actually founded the business.
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Doesn’t that just make your heart leap? Like most people who have run their own business, I believe that the risks and hard work of success should be celebrated and rewarded.
However, when that success comes from abusing a market-dominating position with a high-handed, arrogant attitude and has turned a blind eye to some of its larger customers practices to the detriment of others, the celebration of such rewards has a rather bad taste for many.
This is badly timed news for Rightmove. With hundreds of agents leaving them and, circumstantial evidence suggesting that hundreds more have or are in the process of doing so, this is not going to help them stem that flow. Those share options may not be worth quite as much in a year or so. Then again, I may be wrong. You heard it here first.
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Looks like at last they are getting ready to have rebrand in line with their image.
from Rightmove……. to Wrongmove!
A move I feel sure the industry will whole heartedly support by using their new brand name in future.
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Give Rightmove a call and tell them how it’s done.
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Do you:
a) believe I am impressed with your dazzling wit and biting satire
b) believe I give one flying duck about the opinion of an anonymous nobody
c) ever give a thought that most of those who criticise others who have tried and failed and then tried again, are usually the same people who work for and are salaried by an organisation or business run by someone who has dared to stand up, step away from the relative peace, stability and security of employment, set out a vision and put their own money on the line to make that vision take place.
d) take great pride in your company car, wash it every Sunday after you’ve mown the lawn and shopped at the mall with your 2.4 children for your furniture at Next or John Lewis.
e) secretly hate the fact that, despite the trolls and naysayers, I have received scores of wonderful messages wishing me well and that I have quite a few column inches of published history of my views, opinions and ideas but no one has ever, or likely to ever, know who you are, or what you may or may not have achieved in life. Your family and loved ones rightly care about you which is great. History, however, won’t give you a mention and will care even less.
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” Roosevelt.
You Sir/ Madam, along with the other keyboard warriors on here are merely cold and timid souls.
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Jesus Christ Chris. Calm down mate.
And ‘A’. Always A.
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I’m calm and quite happy thank you. Many many years ago, I attempted to take my own life because of negative comments and bullying. Thankfully jibes and barbed comments made by people I don’t know or know and have no respect for, don’t affect me one iota any more but, for some, it can be a trigger point for self loathing, self-harm and even suicide. As a result, I don’t like bullies and I like to stand up to them, whatever their size. Wherever possible though, I try to change their behaviour.
We all make unthinking comments which are thoughtless or hurtful but, when a keyboard warrior sets out to cause offence, hurt or insult, they have zero idea of what the person on the receiving end is going through or how they will be able to deal with it. The person may, like me, laugh at just how sad and pathetic the anonymous little losers are or, they may take the jibes personally, become severely depressed or even suicidal. It’s a point that everyone should consider more in life given the suicide rate in men particularly.
If you go onto any forum, you should expect to be robustly cross-questioned and for the inevitable moron or two however, if all the poster can do is snipe the sidelines without any cogent, factual or reasoned argument and with no apparent purpose other than to cause hurt, they really do need to have a word with themselves and look in the mirror. Bullies are losers. Don’t be a bully. Be nice, argue your case politely and you’ll feel and be happier.
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“Those share options may not be worth quite as much in a year or so. Then again, I may be wrong. You heard it here first.”
Yep, that’s right folks – you heard it here first… that share options may be worth less, or more, in a year, or so.
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I’m only guessing but, are you compensating for something you feel is somehow inferior in your life or physical being? You seem very angry without being able to make a definite civil point.
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Nah, he’s just a pound shop Cyberduck. Same issues, different body.
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Pot calling the kettle black.
Chris you bullied PurpleBricks HQ constantly – it seems you can dish it out, but can’t take it.
I think that gives the measure of you, personally and professionally.
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Ha! You reckon?!
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Chris well written, but please don’t even bite mate.
You’re wasting good energy.
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Don’t feed the trolls!
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Entirely agree
We must promote alternative portals and encourage the public to believe they risk missing their dream home by reliance on Rightmove alone.
We supported its growth, we must be the agents of change to its dominant position as it ignores our complaints on its ridiculous pricing strategy
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We have on the market just sat there doing nothing.
When is the great switch off again sprigget?
After your holiday in Bahamas no doubt. Get on with it!! All or nothing. It’s time
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Are you on OTM Bless You?
We’re now getting more lettings leads from OTM than RM and the trajectory is such that it won’t be too long before that’s replicated on sales.
Hardly doing nothing.
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Yes I am onthe market.
While i also pay rightmove £1000.
This wasn’t the plan.
I used to get all my leads from Zoopla and wasnt on rightmove. Still had same market share for £350.
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Already on it and people are listening.
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Think I would rather the cash, over the shares.
Can’t see the shares being worth the same or more in 6 months.
Trouble on horizon.
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Interesting one. Ten years ago rightmove only charged £350 a month. So they have an inflation beating model. I guess unless we are paying £2000 a month in 5 years time the stock might fall . As a business they haven’t really done anything else and they seem to do their best to kill honest agents charging for a genuine service.
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Their long-stated goal is £2500 per branch per month.
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Simple… 10% on their current charges each year.
-v-
10% on OTM costs each year.
I get and don’t blame RM for their business model, however like we do with energy suppliers and alike… is it not time to swap… Martin Lewis would be saying swap…. wtf are you doing.
All any of these websites do is display the data we give them. They don’t help, enhance or do anything extra but change us to upload our hard work and make you feel like we should be grateful.
Like the housing market, the property portal market I think is about to hit it’s first ever price cycle. Surely our industry business plan can see the sense in increases from £250 a month at 10% as opposed to 10% to 15% from £1,000 or more a month.
Stating the obvious as ever with this, but something has to snap… and too many business owners are will look at dropping RM now as a last ditch attempt to bring costs down. (Hopefully)
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At the moment we are paying for 2 gas and electric providers. Just in case one gas supplier stops our gas we have one in reserve/// CRAZY ****** AGENTS
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RM seem to be on a mission to annoy the firms who feed it! There are improved listings services from competitors and on the data side suppliers like Homesearch, Sprift and Dataloft provide much better and often free information for agents – it can only be a matter of time before we see firms voting with their £’s and switching to alternatives, or maybe an RM buyout to a larger or new global player?
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Going to keep posting this on every RM thread:
Today’s action plan for agents:
1. Cancel your RM membership
2. If you’re not giving up RM membership just yet, only subscribe to the most basic package
3. If you’re not giving up RM membership just yet, remove all RM stickers in your office, logos from stationery & web sites
4. If you share property details on social media, use links to your own website not to the portals
5. Ensure you promote YOUR website FIRST, don’t give any portal traffic
6. Make your feelings known to RM. OK, they’ll probably ignore them but you never know
7. Finally, put the action plan together for when you finally give them the bullet
8. Don’t moan on here about RM fees if you’re not prepared to carry out any of the points above. TAKE BACK CONTROL.
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Been doing number 2 onwards forever. Totally agree.
Problem, although it would flush RM out for what they are… drop all the products and the RM basic package will rise 25% next year. They WILL make up the loss.
But I agree… no need for the *****. Only very weak estate agents beleive a FPs, LHPs or PLs and MicroSites will actually help sell a house! They (products) are mainly on unsold unhappy vendors homes who’s prices are too high and you are fighting to keep an instruction and actually spending more money on the home to still not sell it, until you have the balls to say…. reduce or go with that agent.
Best product RM offer is YOU the agent! We should charge them a bit for our expertise in what we give them! Just a thought.
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Trouble is for every 3 intelligent agents you have 1 rat who will use rightmove to compete.
Look across the road… 1 is a rat. We all know who the rats are in our street.
The friendly ones who go mad when you take their property off them but are on every local committee for fairness you can think of. ratzzzzz
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There is a great deal of value in additional photos, videos, drone flyovers and 3d walk throughs. That rich content adds to the appeal of Rightmove as an entertainment channel. It seems reasonable agents ought to receive a credit for the rich content that is attracting viewers to the site.
Anything more than a single photograph ought to be rewarded with a helping hand on subscriptions and so help fund the content.
Personally I believe anything over and above the main photo ought to be reserved for an agent’s own site or those that reinforce an agents digital footprint rather than those that compete with it.
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It’s a fair point Robert and something I have been doing for years, I want to drive any “Quality Traffic” to my own website, rather than inflate the appearance of Rightmove when they clearly don’t give a sh£t about their paying Subscribers.
I have only ever done the basic package, for almost 15 years.
I have removed their branding in many instances and will continue to do so.
As I make a conscious effort to drive my own website harder I am reaping the rewards, and I am no longer feeding Rightmove business. They showed no loyalty to myself and others so it’s time to recognise that they have Zero Interest in Our Industry – they are wholly self-serving.
I move ever nearer to despatching Rightmove from my business ……as there is clear evidence that Our Industry can succeed without them.
The self-perpetuating myth that we can’t breathe without Rightmove is simply that – a complete myth!
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What would it take to kill rigghtmive?onmarket has failed.
What woudl top the balance?? must be something.
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Property Pundit can you add another line or two;
3.5 – Upload your content to your own website first. Upload to the portals (if you must) a couple or a few days later.
3.5a – If you are not prepared to upload your own website first & ring round your mailing register then go check you are not one of those list and leave / fire & forget / pay upfront type of agents.
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There’s one more (I’ll re-jig for next time, it probably won’t be long): Stress that people register their details with YOU rather than the portals. Remind them that property does sell ‘off market’ or without the need for a portal upload.
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its only good news if the share price stays the same , and that is all down to us !
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Disgusting and immoral. Never any other news from RM other than how much they are charging their consumers and rewarding themselves. Things will NEVER change unless people make a stance. We are solely a letting agent and I decided three months ago that enough was enough and cancelled my subscription to RM, it has had no affect on my business whatsoever. I do understand that it is different for sales, but something really needs to be done to stop this gravy train. If we all voted with our feet then they would have to change their attitude. Hurt them in the pocket is the only way they will listen.
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Covlets….
I don’t think they (Rightmove) will “listen” to the sound of Subscribers walking away.
Rightmove have set out their stall, same or smaller property pie, less agents/Subscribers (as agents cancel their Rightmove Subscription and walk away – and some will close) ……RM keep increasing/******** those that are left.
To the “Fan Dancers” that manage Rightmove, they just need the financial gravy to last until they walk away.
Those agents that are left “Overpaying” to replace the income lost may eventually wake-up and wonder why they sit back and get shafted monthly.
As a long-standing Estate Agent I do wonder why those agents paying the hefty money to Rightmove allow themselves to be shafted – other than clinging onto the hope that they’ll outlast the Agents who leave?
Rightmove is built on myth and on Agents shafting Agents, that’s what they rely upon and indeed that’s what they gear their “systems/tools” towards.
Rightmove must laugh as they see Agents eating themselves financially?
The Rightmove reality is that it won’t last forever, however it just needs to last long enough for them to fill their pockets.
Rightmove are Gold Standard Winners when it comes to sh£tting on their Subscribers …..and it’s easy for them as they couldn’t give a toss for their Subscribers
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We have left and gone to Zoopla and OntheMarket at last so at least it will not be my hard earned money they are getting!
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Tick tock Rightmove.
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Michael 138 – We have done the same and no effect. Quite nice on the 1st of each month paying a few hundred instead of a few Thousand and business not affected. ~Three months into the year and £5000 extra for us – Hope more people see the light if not only 10/11 months to your next rise!!
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We used to spend five times RM on newspaper advertising
Their aim is to reach that level
Won’t be popular – as they won’t have any clients if they keep pushing.
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Potential client:. ‘Do you advertise my property on Rightmove? It’s very important, isn’t it?’
Agent: ‘No we don’t, because in practice we find that they do not provide a significant number of actual buyers. We get better quality leads from Zoopla and OntheMarket and that is where your property will be advertised. Even so, I can also tell you that the majority of people looking on portals are just window shopping and will never actually buy anything. We make the vast majority of our sales from picking up the phone and talking to the many serious buyers who we have on our books – who have come to us from many different sources including some from portals, some local press, our website, responding to our boards,.existing clients.. .’
Client: ‘Oh. OK. That’s fine. I understand now that you have explained. So it’s not very important after all.’
Sorted.
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Agent leaves.
Next agent gets the instruction.
Only kidding.
I do suspect it also depends on which part of the country you are situated. Portals have stronger and weaker locales.
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So, imagine this Headline…
RIGHTMOVE GOES BUST!
Does any Agent worry they won’t be able to Sell or Let Property?
Do the public stop looking for property to Buy or Let?
2 x No. Says it all really.
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Afternoon GPL.
I think your question is the best of all and the most important.
RM going bust would personal make me more money!
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Amen.
None of your staff are irreplaceable
None of your CRM systems are irreplaceable
None of your marketing methods are irreplaceable
If RM is delivering a great ROI, great, stick with them but, if you are spending 50% or more on RM than your office rent each month, as I was, the leads have dropped and you are able to deliver the same or better leads/ views from another portal or your own efforts at a fraction of the cost, why the hell would you stay?
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The rent argument is a red herring really.
Not too many people visit your office but it helps because people/clients know how to get at you.
Sellers want comfort that you are doing your best and until something changes they see RM as part of that comfort package – consider it like alloy wheels when buying a car; most new car buyers expect them nowadays, and RM are the alloy wheels of property marketing whether we like or not.
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An interesting and appropriate analogy J1, like any addict until you recognise you have a problem you will never start recovery, we have an alloy wheels problem but the chicks like them and we like the chicks.
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13.40pm comment above – Thai Lentil Soup in my car, now time for next Appointment.
Meanwhile at Rightmove Palace – just moving slowly through the courses at Lunchtime, cigars/cocktails/brandy later, then falling gently asleep counting their share options.
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When you’re all driving home tonight watch out for a Scottish Guy flying past your windscreen with a camera in his hand! ……that’ll be me, in this feckin gale force weather. I’ll give up on photo’ing houses today, it’s an anchor I need to keep me from ending up in McKansas City!!!
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