EYE NEWSFLASH: Rightmove announces 75% cut in rates for agents and says sorry

Rightmove is to slash its charges to agents by 75% for four months.

Rightmove has also admitted that it got it badly wrong with its deferred payment scheme, and apologised.

Its statement says:“I don’t think many of us would have predicted sitting in our offices last week that we’d be where we are today, with the possibility of more restrictive measures approaching.

“Earlier this week we offered our independent estate and lettings agents a deferred payment scheme to help them through the next few months. The situation in the UK has changed rapidly and we’re sorry that it was too little and now inappropriate for the challenges we all face.

“Instead of offering the deferred payment scheme to independent estate and lettings agents, we’re going to reduce your Rightmove bill by 75% for four months, starting from 1st April whether you advertise residential properties, new homes or commercial premises.

“You don’t need to apply for this discount, your invoice will automatically come through reduced by 75%. To be clear, this is not a deferred payment, this is a discount that you don’t need to pay back.”

CEO Peter Brooks-Johnson said: At Rightmove we are doing everything in our power to rise to the challenges of COVID-19.We have chosen to utilise our position  to support our customers at this difficult time.”

Rightmove will also take a bit hit to its revenues and profits, announcing that the reduction it will cost £65m to £75m this year.

One analyst, William Packer, of Exane, said: “This move follows a wave of similar moves across the global online classified space (Cargurus, OTM, Auto Trader etc).

“We think helping customers through the crisis is ultimately the right long term decision to ensure the long term health of Rightmove’s network business.”

However, he warned that it brings risks, if the crisis continues, of “future periods of agency pressure”. However, he added: “That said, we think Rightmove maintaining the billing relationship (reduction rather than waiving of spend) is strategically sound.”

Rob Sargent, of The Acorn Group, instrumental in a campaign for a payment holiday from Rightmove, said this morning that he is considering his position.

He said: “Rightmove will still be making money while most of the industry are losing.”

Rightmove’s statement to the London stock exchange says:

SUPPORTING OUR CUSTOMERS – UPDATE ON IMPACT OF COVID-19

Rightmove plc, the UK’s largest property portal today provides a further update as a result of the evolving COVID-19 situation.

Supporting our customers

The speed of the slowdown in the UK housing market has been significant.  Notably the number of property transactions failing to complete in recent days and likely changes in tenant behaviour following the announcement of the renters’ protections by the government may put further pressure on estate and lettings agents.

Although the likely duration of these market conditions is unclear, given this sudden challenge for customers Rightmove has chosen to offer more substantial assistance to support their businesses. This follows extensive dialogue we have had with many of them. We also firmly believe this rapid action is in the long term interests of our shareholders.

In recognition of the unprecedented environment we will today be contacting all our Agency, New Homes and Commercial customers to let them know that from April we will be discounting their invoices by 75% for the next four months, superseding our deferred payment offer.

The financial impact of these actions over the next four months will result in a reduction in revenue of £65m to £75m for the financial year ended 31 December 2020. The Board believes it is important to act quickly and we are able to implement this initiative given the strength of our balance sheet.

During this difficult time we will continue to innovate to make home moving easy for customers and home movers for our long term growth.

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112 Comments

  1. smile please

    Guess that’s the mass exodus avoided.

    Still at least it’s something. Better late than never.

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    1. Property Pundit

      Tongue in cheek SP or are you serious?

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    2. Doesnt comment much

      This will save the mass exodus in the short term in my opinion but they have already shown their complete disregard and arrogance towards all of us agents.

      This has also shown what power us agents have if we just stick together.

      Time for everyone in our industry to bury the hatchet on any disagreements and stick together.

      If we do stick together then maybe we can get RM costs down forever OR we all leave as a unit and go to a provider that understands the need to work with us and not just for themselves.

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    3. BN Agent

      Bend over and assume the position. Rightmove are just unfastening their trousers for you

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    4. biffabear

      No. Still leaving.

      It is and always has been an abusive relationship.

      If good numbers of people do not go through with leaving now, then it is RM who has agents on the ropes, forever.

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      1. htsnom79

        My future Val letters may well have a paragraphs along the lines of;
        It will no doubt come to your attention that htsnomEA no longer support the web portal Rightmove, no doubt if you are unaware then our competitors are likely to point to this as a reason to question our ability to secure first in class results on behalf of our clients.
        There were many reasons for agents to abandon Rightmove prior to the Corona Virus tragedy of 2020, in the main they were financial considerations as Rightmove abused its market dominance to the extent, at its peak, their profit margins were 75% of their turnover, that’s money paid to them by htsnomEA that we receive from clients for ACTUALLY doing the job in hand and the only benefit was listing on what was an increasingly dated platform.
        This state of affairs would likely of continued but for the Corona Virus outbreak, in an attempt to receive some relief from portal costs over the lock down periods, Agents large and small ( nationwide ) approached Rightmove for some concession on their monthly fees ( nobody could view anything and nothing was being listed ) for a period as part of the relief efforts for businesses to keep them going, if you recall the nation was described as on a ” war footing “.
        Rightmoves response was breathtakingly horrible, not only did they seek to retain their already extortionate subscription charges when their customers and compatriots were in dire need of them sharing the burden, they sought to excuse themselves in an entirely callous manner referring to the deaths taking place as no more than a ” blip ” and that periods of lock down were ” like Christmas because every body will be on their computer ”
        htsnomEA condemned this selfish, capitalism gone mad attitude at times of national unity and presented our notice on the spot.
        We have been part of this community in a high profile way for over 20 years, we have moved many families multiple times and our best advertising comes from our recommendations, I will detail below how we have pivoted our former Righmove spend for our clients benefit and are achieving amazing results.
        This career estate agent advises you to treat not being on Rightmove as a bonus, we are exclusive but with sleek and modern offering which gives greater and further reach, treat the Rightmove issue as the imposter that it is and please feel free to show a copy of this letter to any agent who feels otherwise.

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        1. biffabear

          That, Sir, is wonderful and with your permission I will pinch chunks of it.
          I might add. That if a client or another agent is preoccupied with RM, then they are offering a service no better than they could get from PurpB.  Today the agents that bang on about being on PB are more-or-less saying that they rely on it and are therefore an inferior agent.

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          1. htsnom79

            lol fill your boots biffabear, its all reminiscent of the newspapers back in 08 history is merely repeating itself, agents who wouldn’t usually put each other out if on fire meeting up at Holiday Inns in conference rooms to thrash out a collective position through necessity and these were people who despised each other day to day because thats how this industry is, and its good for the consumer because there’s no trumpian calloooosion, in our case trinity mirror tried the divide and rule and some agents cheated in saying one thing and doing another, just made me hate them more and respect those who said what they said and backed it up. The overhang carries on today, 12 years on and there are still agents despite multiple changes in staff that I will particularly enjoy shafting because of their duplicity, I like the scots ( hat tip GPL ) but the arrogant scottish bell end from TM  who stood on stage telling us  at a gathering at a posh hotel ( debateable ) paid for by them  how to do our jobs and what would happen if we didn’t fall in line with their advertising agenda despite never doing the job just gets ones back up. We took a decision, member of staff or paper advertising, chose staff and it seemed scary at the time ( others will use it against you paranoia) but we’ve probably out performed our nearest competitor ( still in the paper actually I haven’t even thought of it until this post, must get one one Thursday and see whats what  ) by at least a third in the decade since, thats several millions of pounds in and zero to TM group.

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            1. biffabear

              I remember the wars with the news papers, too. Even back then I backed the underdog.
              As agents, we need to spread it around a bit more.

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      2. Covlets

        Well said! Rightmove have had their own way for far too long. The only reason they changed their stance was due to the uproar this has caused in the industry. They are not thinking of us but how they can save themselves. NOW IS THE TIME TO LEAVE! If we do not then they will go back to their own selfish ways once this is over. Remember their first offer? They had a meeting and the best they came up with was a deferred loan. Are they effin serious, they are totally clueless as to how this virus has massively affected our industry.

        I left Rightmove in September and have not missed them one bit. More of MY MONEY in my bank account to use to improve our exposure on so many other platforms.

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        1. htsnom79

          They are a non self aware parody, a sort of alan partridge version of google, they are a scroll tap website with king 5h1t of tuurd mountain levels of self grandeur, trumpian in their lack of self awareness, behold:
           
           
           
           
            We strive to create one team of Rightmovers with as few barriers as possible to rapid growth and innovation. We believe that this comes from a process-light, highly connected organisation with little constraining hierarchy and bureaucracy. It is about employing the right people, giving them the freedom and authority to innovate and lead, and then guiding them to succeed. Every Rightmover is both individually empowered and accountable.    Rightmove is not afraid to change to preserve the things we hold dear. As we grow, maintaining the pace of execution is vital to enhancing our innovative culture. In 2019 we restructured our product development and technology function to streamline our delivery and empower more of the team.   A diverse Rightmove is important to us. We recognise that a diverse team will provide a wide range of perspectives that promote innovation and business success. Drawing on what is unique about individuals adds value to the way we do business and helps us anticipate and provide what our customers want from us and what home hunters want from the Rightmove platforms. However, as everyone has pre-conceived ideas and a view of normal, we have successfully delivered a ‘Thoughtful Leadership’ programme to tackle both conscious and unconscious bias for everyone with a people responsibility.  We will continue to build on this foundation in 2020 and beyond and as a first step we have launched a more detailed follow up programme for those who are responsible for significant numbers of Rightmove people. We also recognise that unconscious bias of peers can impact the working environment, so we are also launching a ‘Thoughtful Community’ programme which will be attended by all employees.   In the design of our offices we have taken care to create a physical environment that encourages open and honest discussion, including social spaces for the teams to enjoy each other’s company. Our workplace is free from the usual trappings of hierarchy.   We believe in sharing early and often, and reinforce this through events such as town halls, showcases, stand-ups, team away days and company days which share progress, successes and challenges. Everything together creates a unique and driven environment that we believe results in people feeling a sense of belonging and a passion to perform. By striving to make Rightmove a great place to work we can attract and retain the best talent and provide the best service for consumers and customers.    We are proud of our development culture and the role mobility it promotes. For example, in 2019 we ran four mentoring circles hosted by inspirational external thought leaders. The sessions covered thought provoking topics to help unleash our people’s full potential.   Development is not limited to role relevant skills. To support the objectives of World Mental Health day we created events to remind Rightmovers to connect with those around them with a conversation. Rightmove was also an early adopter of the ‘Spill’ mental health app which gives every employee anonymous access to a qualified counsellor at the touch of a button in the familiar environment of an app or text message.   Great talent and passion to perform is not enough to make a great Rightmover; the way in which we behave towards each other, our customers and consumers is vital. We expect the very highest standards of ethical behaviour from all employees. How we go about our work is central to our recruitment, feedback and personal development processes.    The actions and behaviours of our people create the sense of belonging and connection and allow the business to continue to thrive and attract great people. In our 2019 ‘Have Your Say’ people survey, 81% (2018: 91%) of Rightmovers responded that they think ‘Rightmove is a great place to work’. Whilst 81% is still high, I am disappointed that we have fallen below our long term average as we are never complacent about the importance of acting on colleagues’ feedback. We already have plans in place to move this measure upwards in 2020.   Our vibrant culture sets us apart from many organisations and is defined by every one of the nearly 600 people who are proud to call themselves Rightmovers. I would like to thank them all for creating a culture which continues to drive such business success.

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          1. Ostrich17

            “nearly 600 people who are proud to call themselves Rightmovers”

            Well maybe 81% of them were – after this “Ratner Moment” it will be one or two less than that ! 😀

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  2. Neiltozer

    Too late Rightmove, the damage to your company is already done, I’ve never read so much anger towards a company, for hundreds of agents your offer was the final straw. If you have given notice, like hundreds have, stay strong and dont fall for the offer, you know the price will go up by 20% nextvyear to recoup the discount!

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    1. EGeorge79

      Agreed, too little too late their original response reflected RM attitude toward its clients. We have left RM and joined OTM didn’t want to but we were left with no option – we had to jump to survive!

       

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    2. silverfox

      Totally agree and agents should also remember that during the initial discount period, there probably wont be too much income being created anyway, so when the discount period comes to an end, we will have little to no pipeline to pay for the increase.

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    3. Mothers Ruin

      One thing and one thing alone has prompted this discount. THE SHARE PRICE.

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  3. Client1st

    Sickening, but thank you Property Eye for being the conduit for us on this

     

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  4. JEL

    They are a nasty company who are obviously worried but don’t think we can be suckered into a victory parade…. they will get their own back at a later date….

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  5. revilo

    If this debarcle has achieved anything it has given agents the opportunity (and about time too!) to tell RM excatly and in no uncertian terms what they think of them, their staff and their practices, and if RM have any sense whatsoever, they will sit up and take very serious note!!

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  6. ValueCounts31

    Like all of you. I have been frustrated with Rightmove for the last 2-3 years.

    However. Today, Can we just thank Rightmove.

    This is a lifeline for most of our companies.

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    1. Property Pundit

      Can we just thank Rightmove

       

      Are you for real?

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    2. Rebel

      Do you read ‘The Guardian’?

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    3. agent sami

      Thank them? They are begging right now. They are on their knees about to be killed off. They beg for everyone to stay

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    4. Jinky123

      Did they thank you after each annual price increase that you received?

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  7. Louise2972

    Too late….they will never change. Reduced bill for a few months then huge hike to recoup their losses. We’ve made our decision and are sticking with it. Nothing has changed….we have them on the run…..they’re terrified and know they’ve damaged their business immeasurably. Don’t think 4 months 6 months! Think when the dust has settled the thousands we pay them. That will return. We have a unique opportunity to get back control of our industry that Rightmove stole.

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    1. Property Pundit

      Good for you. Everyone be like Louise.

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  8. Blue

    Shame it’s reactive & not proactive.

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    1. MarketThis

      Decisions like these take big companies months normally, I think this is a great result given the speed and normal behaviors.

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      1. htsnom79

        they are only a big company because of us suckers, bud, we do all the hard work in getting the listing/managing expectations/problem solving and they charge us a fortune for their mid noughties website which is only there because of first mover advantage.

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        1. MarketThis

          If it serves no value to you I assume you are not a member….
          If you are not a member, why are you even reading this.

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          1. htsnom79

            Because this is my area of expertise and income and Rightmove is a choice not a club, so I dont know where this
            ” member ” terminology has sprung from, its an expensive subscription service of dubious benefit built on foundations of expoitation and easy ( 75% ) money all done by automation and fear.
            I also know a sychophant in a thread.

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            1. Property Pundit

              There’s a reason why they use the term ‘member’ frequently.

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  9. Rebel

    HEADLINE: Rightmove change their subscriptions from ‘Obscene’ to ‘Disgusting’.

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    1. Property Pundit

      Doubt we’ll see a better post today.

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  10. Andy Halstead

    too much too little too late to ever try again……..

    too much too little too late, let’s end it being friends

    too much too little too late. we knew it had to end

    It’s over!

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  11. Agent Derbyshire

    To all the agents that stood up, said “no more” and gave in their notice…well done……to those who didn’t……you’re welcome!

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    1. debbiedoesalot

      Love it, and sums it up nicely!

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    2. VillageAgent

      Brilliant AD! Best post of the week! I think we are going to stick to our guns and leave anyway, I hope many others will do the same.

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  12. EAMD172

    Well done Rightmove. Like many who read these articles I have been frustrated by the arrogance of RM for several years. And yet I know that their product has been good value or I would not have stuck with it. Today, this news is a great help and for whatever their reasons behind it, I am grateful.

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  13. YorkshireEstateAgent

    Please don’t fall for this faux apology, this is the first time agents have stood together against these bullies and forced their hand. They’re only sorry that we took a stand against them and forced them to backtrack. Their previous arrogance has not gone, it’s just been deferred until this is over and they will come knocking again.

    We have shown them that they’re not too big & strong to suffer a backlash, please let’s not miss this opportunity to stand up to them for good.

     

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  14. #ImpressiveConveyancing

    Don’t fall for it!
     
    Nothing will change. As conveyancers we go live shortly with a change to our closing sale and purchase lettersto all our conveyancing clients (and also contained in our purchase property reports) warning clients to ALWAYS consider an estate agent who has deliberately chosen not to use Rightmove. They are the go-to agents now, who care about their business, and the quality offered to the public. “It’s who we would recommend when you come to sell, making sure you look to OnTheMarket.com as the go-to property portal now too”

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    1. MortgageStu19

      Whilst I don’t agree with Zooplas tactics here, I also don’t agree with your advice to clients.

      Why would you advise your clients to reduce the exposure of their property, when marketing?? – Potentially leading to them getting a lessor price for their property.

      Imagine if Rightmove reversed this on your company…?

      At this moment in time, we should all be supporting each other…..

       

       

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  15. Property Pundit

    Oh that’s alright then, phew, let’s forget ALL of their past horrendous behaviour and approach on pricing shall we?

    Firms who have credibility will not change their minds

    Other firms who still have some credibility will use this four month phase to plans in place to quit after the reduced period ends

    Those that are left, well, it’s sad that so are so easily bought off

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  16. Typhoon

    Industry hold your nerve. Leave them. They are finished if we  do and Zoopla and OTM are more than we need for the future.

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  17. Lance Trendall

    It just confirms they’ll never put us, their customers first.

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    1. MarketThis

      75% for all customers is putting customers first….

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      1. Lance Trendall

        Putting customers first would have been making this their first offer, not protecting their shareholders’ revenue with their deferred payment scheme at a time when their customers were facing their bleakest threat.
        We should leave, because Rightmove will want to make up the lost revenue next year and the years after.
        This is the perfect time to do cold turkey and give up our addiction to Rightmove and seek a healthier option.

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        1. MarketThis

          Most people expected them to do nothing so the fact that they are now at 75% non repayable discount, is putting customers first. Yes, maybe it could have been done a couple of days earlier but regardless of we all love to hate Rightmove so they would always be wrong wouldn’t they.So much negative energy served moaning yet the majority still use them, that is what I find amusing.

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  18. htsnom79

    So let’s get this straight, rightmove have reluctantly conceded that they too will have to take account of economic reality rather than just watch from the sidelines eating popcorn, they wanted to be like the motobility riding gluttons in WALL-E on their spaceship, I’m still tamping, DD cancelled and itchy trigger finger on giving notice, my competitive juices are aroused by the thought of going up against this once credible now paper Tiger. Grrrr.

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  19. J1

    They have apologised for nothing………..

    Their crass remarks about Covid-19 and the death of thousands as a blip will live with me for a long time and will never be forgiven.

     

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  20. Marketshare

    We do not owe them any thanks, they have been shamed into doing this by our response.  Their statement to the stock market is a sham, this is a commercial decision created by the pressure of hundreds of agents giving notice.  It is 100% vital that we now maintain our pressure or in 4 months time we are back to the Rightmove we know. We need a single voice and if Rob Sargent is prepared to be that voice we can now work together for a fairer Rightmove not just for the next 4 months but for a long time after.

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    1. Property Ear

      Has Rob Sargent resigned then? No. So there’s no point in having him as a voice. You clearly haven’t either and are riding on the backs of those who have told RM where it’s at and succeeded in getting you a concession. You are obviously a dissenter but have nothing to help the cause of ridding our profession of a company who is fleecing us.

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      1. biffabear

        Well said.

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      2. Marketshare

        Hi Property Ear, not quite sure you have understood my post?  My single voice comment related to the fact that Rob has set up a website which in my view needs to continue.  Regarding your other comments, I was a gold member of OTM and submitted my cancellation notice to Rightmove for four of my offices on Monday of this week (see previous post on PIE).  I am now on the fence, I may take advantage of the discount then review my membership or I may leave completely on May 1st as currently agreed. Can I assume you have also cancelled?

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        1. biffabear

          I certainly have and will not be reconsidering.

          The rep just called me with nerves in his voice.

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        2. Property Ear

          Hi Market share, yes I have. How could I post the way I have had I not? What is the point of sitting on the fence for the next 4 months for the cost of £1000 when nothing much will happen while RM plot how to get their money back. I believe every dissenter who jumps will not only be being true to themselves but will also be making a sound commercial decision. JUMP NOW!

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  21. BI

    The RATNERS effect….”Total ****” You can’t take it back…..it’s out there now.

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  22. Seller0169

    I think you all need to calm down a bit, looking from the sidelines they’ve made the right decision in light of how quickly the virus is spreading. If you don’t like Rightmove then just leave, In every valuation I’ve ever had done I’ve never had an agent come in and slag it off but it’s always been mentioned as the site everyone uses and we’ll get your house on there.

     

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    1. YorkshireEstateAgent

      I slag them off in EVERY valuation, I tell people the history of my fees, I explain why we list with OTM exclusively for 72 hours and that is to drive traffic to OTM and lessen the effect of RM, almost everyone understands & is supportive. RM are merely a portal, nothing more or less, a collective market place who’s empire needs facing up to.

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      1. MillicentBystander

        For the love of god….stop sending traffic to ANY other site other than your own website.  A smart agent will notify their database (preferably by phone or text), then email blast, then social media blast, mail drop local area (hopefully meeting & discussing the market with some other local home owners along the way) then once all that’s done…whack it on your own website…then (and only then) feed the portals.

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      2. Seller0169

        Interesting that you do that on every valuation, I’d love to hear your pitch next time we sell part of our portfolio, it would be like someone telling me to not use use Google because they make lot’s of money – I really don’t care I just want you to generate the interest and get the highest / best sale price.Wherever and whatever you use to market your stock is up to you but any marketeer will tell you to go to the where the people are so what you’re doing is just moaning about spend, which is fine as that’s your opinion) but just simply not correct.

        I do love this this website as it gives me a glimpse into what a small group of estate agents get up to when they should be working

         

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        1. biffabear

          Seller0169  The market has NOT been with rightmove recently, not in London anyway.

          It’s also interesting to see what a lone developer/speculator/investor gets up to, spying on Estate Agents.

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          1. Seller0169

            Hi biffabear, glad you find my activity interesting, a friend showed me this ste a few years ago as I follow some agents on social to see what the word on the street is, the thing I like is that on twitter, instagram, press commentary etc you get a quite balanced view but on here there seems to be a definate pack mentality from a lot of the same people which a lot of the time get’s quite aggresive. When I deal with any business I like to deal with people who have a balanced opinion and I don’t mind if they feel strongly about a subject but it’s always clear when their view is clouded by their own personal agenda.  
             

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            1. biffabear

              You might have a different view, if you had helped start a company that then went on to dictate to you and treat you appallingly.
              Forget costs, Rightmove has appalling manners.

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              1. Property Pundit

                Don’t feed the troll.

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  23. PaulC

    This is acceptable to me, I either think they should have done a 3-month fee-free period or a longer discount.

    This is in line with their margin so they are given up margin and still bringing in revenue to cover their own costs.

    This literally now means I will close one less branch in the coming days and has probably saved a few jobs.

     

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  24. Hillofwad71

    Crocodile tears

    Heh don’t worry about us we  look forward to getting it back with spades  and some when this “blip” passes over

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  25. PeeBee

    To all that forced this change – CONGRATULATIONS. 

    For those that this is what you really wanted – then you have scored your goal.

    Just remember that it’s a game where many goals are up for grabs – to both sides.

    But most importantly this proves that it’s your ball you are playing with… and your jumpers that are the goalposts.

    NEVER let go of that advantage again.

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    1. Property Pundit

      For those that this is what you really wanted – then you have scored your goal.’
      Imagine these agents negotiating your house sale. Good grief, it’s the ‘take the first offer’ brigade.
       

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  26. WiltsAgent

    The joke is that at 75% off they are still making a fat profit.

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    1. Robert_May

      Actually they are making  normal profits.

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  27. Jinky123

    What this offer from RM has proved is that estate agents have always had the power to make decisions over their marketing costs, but didn’t believe it… all agents should believe it now!

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    1. Lance Trendall

      It shows that if we work together we could tell a portal what we’re prepared to pay then each month.
      I’m still leaving, their culture is inevitably shareholders first.
      On the market is less shareholder driven so can put the customer first.
       

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  28. SamH

    Leadership with a complete lack of emotional intelligence. Surely with the revenue they generate there was SOMEONE in the room saying their previous measures was always going to be the wrong decision. Who knows if it’s too little too late now

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  29. agent123

    I for one will be holding my nerve and still leaving. I needed this to happen to get me out of a business that held me ransom. I will now begin adding services and processes in my offices that I just didn’t do because I expected rightmove to do it all… the truth is they didn’t do it and I was lazy!
    good luck all!

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  30. propertyplayer

    For once I think they have listened and come back with something better. They could of done more but they didn’t HAVE to do anything. I for one will be working out what the hell else i can do rather than sitting round moaning and feeling self entitled.

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  31. Bolton Agent

    As Boris once said: LETS TAKE BACK CONTROL!

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  32. SouthCoastAgent75

    Surely the haze has lifted for people? Customers will go where we put the properties… everyone was scared what the others would say, but now we have realised that everyone else is thinking the same… just go.
    Do you really think the institutional arrogance of this lot is going to get any better in a years time when this is over? They will then continue with massive price hikes. We will be back to being milked dry. Time to eradicate the virus that is Rightmove.

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  33. JasonB29

    RM over many years have shown themselves to be the abuser in their relationship with agents. The latest response is nothing more than weasel words and feels akin to the typical promises of an abuser to never do it again/change…voting with our feet must continue.

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  34. HIT MAN

    Don’t  be fooled, this is because the  domino effect has started with agents putting in their notice. If you  buckle now, you will pay for this later down the  line. This has absolutely confirmed what we’ve  always known – WE have the power to destroy them and they deserve a mass exodus after YEARS  of abusing their  customers. And now Zoopla have this morning responded by offering 9 months free if agents ditch RM. Now is the time for us to back OTM and Zoopla – forget RM we don’t  need them

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  35. MarkJ

    “Agent Derbyshire
    MARCH 20, 2020 AT 08:16#16
    To all the agents that stood up, said “no more” and gave in their notice…well done……to those who didn’t……you’re welcome!”
     

    Great one liner fantastic rhetoric and sarcasm…..

    For many the reality has been up to now is that your local friendly estate agent competitor will stab you in the back as soon as you come off RM…. several agents came off Rightmove in the Cardiff area when OTM launched and were forced to go back within weeks because of just this. So weve already had a practice run…..

    The competitor could only see the short term gain not the bigger picture.

    If people are willing to talk collectively Im all in…Im also more than willing to put money into a pot to ascertain the legality of collective discussion ….which RM uses to divide and conquer

    Report
    1. MGEA

      I agree. Actions speak louder than words and all we do is moan but wait to see what others are doing. Time to jump. Save yourself and a fortune.

      Like an insurance company, they may pay out now but they will get it back another day.

      Whilst we continue paying what they demand and moaning as individuals they continue to get away with it. OTM failed but we can still be a collective group to deal with this

      Report
  36. James Morris

    So it took X number of agents to serve their notices before they even considered this response. Thanks for the offer but no thanks, we will still be leaving. Sick and tired of the annual price increases, the fewer leads and the arrogant attitude that without RM our business would fail.

    Congrats to everyone who sent their notices, I hope you all hold firm and don’t get suckered back in.

    Report
    1. MGEA

      Well said and same for me.
      Fact is RM is there to be shot at and it will happen. Plenty of portals will be trying to take them on and we have all been waiting and hoping one would come in and deal with them for us. We need to act ourselves and now. Let OTM take over.
      Email your local competitors to ask if they are with you on this. Make sure they see all this website and ask if for once we can stand together. Some may not have seen all this and think they got a pleasant suprise this morning. But surely no agent can truly believe RM is ‘good value’. Not any more. Market leader, it is where most buyers look and yes we sell houses through it. We could all do that through OTM. The way their fees have gone up, it no longer represents good value to me.
      It has become an unecessary evil in our budgets. The damage it has done is awful. Many may breathe more easily for three to four months and then it will haunt you again.

      Report
  37. BN Agent

    Can you imagine how much the price increases will be next year? For a company that charges a customer £1000 a month and of that £750 is profit. They will need to show their shareholders a hefty profit. Good luck those that decide to stay with them. You’ll need it!

    Report
  38. Lance Trendall

    Putting customers first would have been making this their first offer, not protecting their shareholders’ revenue with their deferred payment scheme at a time when their customers were facing their bleakest threat.

    We should leave, because Rightmove will want to make up the lost revenue next year and the years after.

    This is the perfect time to do cold turkey and give up our addiction to Rightmove and seek a healthier option.

    Report
  39. YorkshireEstateAgent

    I slag them off in EVERY valuation, I tell people the history of my fees, I explain why we list with OTM exclusively for 72 hours and that is to drive traffic to OTM and lessen the effect of RM, almost everyone understands & is supportive. RM are merely a portal, nothing more or less, a collective market place who’s empire needs facing up to.

    Report
  40. debbiedoesalot

    I’ve just had Rightmove on the phone, grovelling for us to retract our cancellation – I had great pleasure in giving him a great big NO!

    I just hope nobody else falls for their patter. As someone else said, too little too late.

    Report
  41. IHS

    Share price down 7% and dropping.

    Report
  42. Budgie boy

    Like most p— takers,  they’re only sorry they got caught. They’ve been Ratnerred, they’re finished, my notice will stand. This is a golden opportunity to teach them a lesson they won’t forget and an opportunity to remember our own marketing skills.

    Report
  43. OMG

    The problem is RM think that agents are stupid and will pay no matter what. I bet they thought to themselves they can get away with the deferred payment and all the aholes who report on how fantastic they are will say how amazing that they got away with it, this would then have made them even more powerful. Truth is they are nothing but a listing service, no listings = no business.

    Seeing them now bow to agent pressure is embarrassing and just shows how great they think they ‘Were’.

    GOODBYE RIGHTMOVE and sleep tight all you greedy bloodsuckers.

    Report
  44. Client1st

    I think in the first instance we need to set up an association of RM users. Rob Sargent seems to be the man for the job.

     

    Report
    1. Property Ear

      Delete Users – insert Suckers 

      Report
  45. GPL

     
    I posted this last night in response to a post from Louise2972 who had emailed rightmove earlier yesterday to confirm she was leaving/cancelling  
     
    Rightmove….HINDSIGHT Rightmove!
     
    Your calculated blindness to Our Industry’s plight …….then as the army of leavers grows and the level of Agent fury rises ……. you are forced to throw a lifebelt today?
     
    The words Rightmove & Shameful are forever linked!  
     
    Nothing to do with your share price dive again earlier?    
     
    Anyway…… last night’s post on PIE.   GPL MARCH 19, 2020 AT 22:38#129     Congratulations Louise      
     
    …….what is utterly dumbfounding once again is to see the Rightmove Auto Reply?
     
    …..that’s what you got after paying Rightmove a chunk of money annually, probably over a number of years.   
     
    Basically they take a minimum of £1200 to £1500 per branch, let’s work that up to £14,400 to £18,000 per year
     
    ….and then let’s just say for discussion sake that figure is averaged annually over 5 or 10years at £15000, so – £75,000 to £150,000,
     
    then for every 10 branches that leave   – looking back over 10 years at £150,000 …..is £1,500,000
     
    ….or 100 branches over 10 years is £15,000,000    ……
     
    and let’s go to 1000 branches over 10 years …..£150,000,000 MILLION!!!
     
    So, as Rightmove’s Financial Cake gets smaller …..so, the remaining Subscribers just keep getting Squeezed & SQUEEZED & SQUEEEEEEEZED!!!
     
    The “Leavers Loss” is shared by those that remain “Loyal?” to Rightmove???
     
    …………in this ( ______________________________ ) write your own description of how you would describe Rightmove’s attitude to their Agents.
     
    Each Overpaid Overlord at Rightmove just quietly hoovers up the millions, the share options, the damn good life …….and waits to move over and let the next “player” in the game ……and Agents FUND this lavish digital newspaper – with its outdated technology, minimal staff and shocking customer service
     
    …….all of which balances so D E L I C A T E L Y …….on the magical “Portal Visitor” Numbers
     
    ……..which has been highlighted many times before by other knowledgable PIE ‘ers
     
    ……..those Gazillions of Visitor Numbers should mean we are selling MILLIONS of homes every week
     
    …..but, we’re not, are we ….because Rightmove is the Hello Magazine for Property, plenty lookers, very few buyers.
     
    Rightmove effectively charges its Agents a minimum of £1200 per month for a Virtual Dance!   A Virtual Dance with Virtual Numbers.
     
    We must be living in the Feckin’ Matrix as this simply can’t be happening …….is it?!   
     
    Check your Bank Account – every month Rightmove dances in to your account, then back out, with your hard earned mone  …….in exchange for a Virtual Dance of Numbers.    
           

    Report
  46. Ryan Baker

    Time to keep the pressure on. This is just not pressure on RM but on Zoopla and OTM. We the agents just can’t be taken for granted. A thing is only valued at what the other is willing to pay. Most are not willing to pay more than a few hundreds for a portal. I will say let’s say we keep it at a week’s salary of a staff. Anything more than than isn’t affordable. With the free platforms available and increasing, all portals need to re-evaluate how much they’re worth for an agent. The small 1-2 office independents are having to face the brunt more. The big corporates , 1. They already pay way lesser than others 2. They can afford any price increase due to the size of the firm.

    When it’s hard times in our industry and the effects are leading to many closures, RM imo is not worth more than £300 PCM. Z & OTM £100. You give me these prices and we use all three. RM is already off due to their attitude and might show Z the door soon if they increase prices too

    Report
  47. 1906 Agent

    Don’t lose sight of the bigger picture

    All client – supplier partnerships are based on trust. The majority of our industry does not trust rightmove

    Todays announcement was made because rightmove clients made them. It goes against their culture and values, their first announcement showed their true colours.

    When the dust settles they will revert to type. All I would ask in these unprecedented time’s is don’t lose sight of the bigger picture, which is surround yourself with people you can trust..and this isn’t rightmove.

    As an agent spending 120k with rightmove our notice to leave at end of April still stands..together we are strong

     

     

    Report
  48. Charlie Wright

    Rightmove is the abusive partner you’re scared to leave. Don’t fall for the short term charm. Get out now, or the abuse will continue.

    Report
  49. MGEA

    We need a union and a voice. Ideally that would have been the website by Robert Sargent but until he states whether he is leaving or not we are unsure whether that site even has legs. An organisation like TPO could have set us all up a portal by now and we just pay what it costs each year/month. Not a huge fat profit for a company like RM

    RM must be laughing really. They know we are just little individual voices who moan and groan but feel trapped in their wicked world. We continue to moan today but unless you have cancelled, it will slow down and you remain stuck. The dust settles and you breathe more easily but come next January etc you know the price hikes are coming to make up for lost time/profit. By then they will have been given the time they need and been allowed to ride the storm. They will actually be stronger for it.

    If we don’t act together now, it will only get worse. If we let them beat this we will help make them stronger. This could be our one and only chance for years. It has to be OTM and if every agent did that now, RM are finished and every buyer will just look there instead, Including the time wasters we know help beef up the online viewing stats.

    Report
  50. JimCricket

    75% discount which is non repayable? Still more expensive than the other two with less leads.. we’ll join with the industry momentum and leave. RM have taken advantage for too long. Every dog has its day.

    Report
  51. Louise2972

    Dear Rob,
    First and foremost I hope that all is well with you and your team, and thank you for taking the time to fight our corner with RM.
    The answer to your question is an easy one to answer, NO!  We have been members of RM since 2012 and at no time during the course of our membership have we been satisfied with their service or attitude towards the estate agency industry.  Quite honestly I have felt in the past that I have been working for THEM rather than the fact that we are their clients and pay them thousands in fees every year.
    I object to many things, but top of the list is their attitude of entitlement and policy of divide and conquer.  I gave notice on Tuesday and subsequently had a conversation with my AM who insinuated that we were in the minority and that agents will lie to one another but actually no one was leaving, quite the opposite, they had had lots of very positive feedback!
    My view is that RM is already, no longer the portal it was before their initial offer.  Why?  Because I sincerely believe it will no longer be the one stop shop for consumers, too many agents are leaving wiping out their monopoly and therefore ability to charge whatever they so desire.
    I for one have had enough.  No fee break, reduction etc will change my mind.   This is beyond business, its principal.  My business may suffer but quite frankly I am prepared to take the hit, work harder and partner with a portal who values me as an individual rather than a blank cheque to abuse.
    Therefore I am happy for you to use my name, company details and logo [attached].
    Good luck, I sincerely hope that you come to the same conclusion and we are able to break this monopoly that is bleeding us all dry!
    Stay safe.
    Kind regards

    Report
    1. WiltsAgent

      Exactly how I felt when I left 2 years ago and as I have previously stated I will never return to RM.

      Report
    2. Budgie boy

      Here here

      Report
  52. ExTOgirl

    We will mop up while you’re all sitting around waiting for Zoop/OTM leads.

    The whole reason we use Rightmove is because it IS cost effective.

    You’re all kidding yourself that you’ll leave.

    Report
    1. SoldPal90

      What is interesting is the amount of so called professional negotiators here who are letting emotion rule.

      Take the offer then mobilise once again at the end of the offer period.

      Well those of us that make it through

       

      Great job and thanks Mr Sargent

      Report
    2. htsnom79

      And this, love ( deliberately patronising ) is the thing, if you are not a Rightmove employee/lobbyist whatever you still don’t understand, Rightmove have NEVER competed with the indie agents only milked them, from on high relentless RM pressure has worked to date because of the herd mentality but if you take them on individually they will bury you, clever people in the real world solving real world problems not just painting pretty pictures ( automated ) on the internet off the back of others graft and cost. If you are an agent, and I DOUBT IT, take us on because we are really really good at what we do, same to Rightmove if there is not a demonstrable rethink after this debacle we’re no longer partners we are competitors, we are rivals, and we will act accordingly. En Garde.

      Report
    3. JEL

      just interested to know at what point you feel it wouldn’t represent good value, £2,000, £3,000, £4,000 an office….for most of us what we pay at the moment is taking the mickey when you could do the job effectively without it.

      Report
    4. Property Pundit

      Troll. And a really dim one at that.

      Report
  53. OMG

    Rightmove’s statement to the London stock exchange says:
    Recently We tried to milk the people who make rightmove, yes our agents, we tried to offer them to pay later, we all high fived as we thought they would just carry on, unfortunately today to our amazement it seems we are up a certain creek with no paddles, so we have decided to do this instead………
    SUPPORTING OUR CUSTOMERS – UPDATE ON IMPACT OF COVID-19
    Rightmove plc, the UK’s largest property portal today provides a further update as a result of the evolving COVID-19 situation.
    Supporting our customers………..

    Report
  54. Robert72

    Notice given.  If they’d come out with the 75% first it would have been a different matter but they thought they’d double down on their unpleasantness in a way in which I’m not sure they’ll ever recover from.  I think the only thing that will work now is an commitment to reasonable, transparent fees going forward and even then it may not be enough given the enormous ill will they’ve managed to bank over the years.  It may not be as public a **** up as Ratner’s but I think it may be as expensive and forever seen as the moment the damn cracked.  Interesting times just got even more interesting.  Now, what’s happening with PB?

    Report
  55. Babek Ismayil

    I applaud the fact that ‘Pay to List’ portals are offering discounts to estate agents. This is the right thing to do in the current environment.However, what has happened in last few days is testament to the significant misalignment between portals and estate agents (their customers). It is a ‘them against us’ scenario instead of a collaborative one.I strongly believe that portals will need to review their commercial proposition in long term. The ever increasing monthly fees are unfair and unsustainable.Agents should not be charged for listings – full stop. They provide the necessary data to make portals successful in the first place. No portal could exist without property listings, so it is bizarre that agents also have to pay for the data they provide. Agents work with a ‘no sale, no fee’ model. Maybe portals should adopt the same concept?

    Report
  56. TipsyKoi1966

    Right, that’s it I’m starting my own business. Anyone up for a portal start up?

    Report
    1. Property Pundit

      Put me down for £5.

      Report
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