The Say No To Rightmove campaign has responded to Tuesday’s news that Rightmove is extending its discounting period until the end of September.
The campaign say:
‘Say No To Rightmove’ was set up by a passionate group of agents and supporters who wish to bring about long term change to the UK estate agency portal sector.
Whether as a result of our efforts, or that of the industry as a collective, we have achieved significant short term discounts from Rightmove.
Neither the first four-month discount nor the most recent two-month discount working back towards full tariff have been voluntarily given.
Furthermore, at no stage have Rightmove directly addressed their customers (UK estate agents).
To a degree, Rightmove continues to ‘knock the can down the road’.
The issue remains that the vast majority of UK estate agents are disenfranchised by Rightmove’s charging matrices, the way in which they service their clients, and the abject disregard for agents’ feedback.
It remains the case that we as an industry support paying nearly £300 million per annum to a single supplier and one that makes an infamous 75% profit margin year on year.
Such a margin would be respected and understood if it came as the result of greater innovation and genuine stimulation of the property market as a whole.
It’s further interesting to read that Rightmove preys on the insecurity of its clients and their fear of leaving instead of motivating them to want to stay for true overarching customer service and value.
Unless we have missed something, the issue has not gone away.
Reading between the lines, the only promise we can see from Rightmove is that 2021 (or before) will see a return to full tariff and beyond.
It will be interesting to see how the industry, from one office firms to major corporates greet Rightmove’s message via the stock market to their long-suffering customers.
Will the 600 agents that have left Rightmove thus far this year turn into 1000 by the end of June, and even more between now and the end of September?
Rightmove also seems to have ignored the fact that the period between end-Q4 and early-Q1 is normally our most challenging trading time.