Rightmove this morning announced that it will be offering independent estate and letting agents, with fewer than 25 branches, the option to sign up to a deferred payment scheme for their existing membership package.
The scheme will be regularly reviewed to assess its suitability over the coming months and has been announced after Rightmove came under increasing pressure to act on its charges during the coronavirus crisis – with agents asking that they be waived or halved, as can be seen on today’s EYE story.
The scheme will give qualifying agents the option to defer the payment of £275 per branch of their monthly invoiced costs each month for six months starting from May 1. The amounts deferred would be paid back evenly over the same term after six months of the first deferral period.
Agents also have the alternative option to defer payment of £500 per branch of their monthly invoiced costs each month for three months paid back evenly over the same term after three months of the first deferral period.
The month that an agent can start the scheme is flexible and can be taken up any month from May 1 onwards while the scheme is in place.
For agents on a lettings only membership package the scheme allows deferrals of £150 each month for six months or £250 each month for three months.
Rightmove will check a number of things when agents apply for the scheme. Some of the criteria will include:
- Have fewer than 25 branches on Rightmove
- Have been a continuous Rightmove customer for at least 12 months
- Pay by direct debit and have paid their Rightmove invoices on time for the past two years (or for the length of time they have been a customer if they have been on Rightmove less than two years)
- Provide evidence of sales or let agreed pipeline (either through SSTC or other proof of funds)
Larger agents may also be able to access a similar scheme based on the same qualification criteria, but this will also be dependent on their existing agreement.
Rightmove agency and new homes director David Anderson said: “A number of agents we’ve been speaking to have said they’re worried about how they’ll control their current cash flow with fewer sales and lettings transactions over the next few months, and as they rebuild their pipeline later in the year.
“As we enter a period of the unknown, at this stage we hope this payment deferral scheme will help to reduce some of the negative impacts.
“To help agents looking for practical advice we’re also running a series of webinars with industry experts on subjects from working at home through to legislation in the current environment and managing mental health.”
Rightmove said this morning that it will be communicating with eligible agents in the coming weeks about how they can apply for the scheme.
A disgrace!
This isn’t a helping hand? This is a a convoluted “get out of jail card” to lock-in/shore up the potential army of Rightmove Leavers!
It’s a SHAMEFUL RESPONSE by RIGHTMOVE, dressed up as a helping hand!
Rightmove 18 March 2020 – Your Day of Shame!!!
So many of us here will be sitting shaking our heads wondering what does it take for Rightmove to “Do the Right thing?”.
No event seems able to deflect Rightmove from their “wholly self-serving attitude to Our Industry”!
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Call that a concession? These guys still want to rake it in and claw it back even though many of their cash cows are about to go down the pan. I anticipate most will tell them to stick it where the sun doesn’t shine.
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PS – Blind, greedy, idiots
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Just asked what my notice period is. Comment below about my reply directly to David’s ‘helpful’ email lol!
Anyone else that watched Monday’s conference feel like it was to push additional service providers like Money Penny?!
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I have been an enormous admirer of the Rightmove business since being part of the Countrywide team who first spawned the idea.
This initiative however appears to me to be grossly ill considered at a time of high National concern over the health and well being of it’s people and when agency will be hard pressed to prosper.
Respectfully suggest that the board should urgently reconsider their position or the weight of customer rebellion may become VERY uncomfortable-and when a rapid downward spiral starts…..ask Countrywide shareholders!!!
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Harry – they are so arrogant and greedy; you could sit at their feet and beg and they would turn the other way I am afraid.
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Clearly they are not listening. We have to have a united walk-out, and some of us high profile agents will need to show the way.
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Good to see the huge support for Mr Sargent’s initiative. Let’s not forget that the industry did not take the opportunity to support OTM, when it had the golden opportunity. I for one thought we would have the perfect “mutual” portal although some of the advertising was not good. Perhaps we now have a second chance, little to lose in the current climate, although OTM is currently a ship at sea without a rudder.! The rudder can be fixed !
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Good to see the huge support for Mr Sargent’s initiative. Let’s not forget that the industry did not take the opportunity to support OTM, when it had the golden opportunity. I for one thought we would have the perfect “mutual” portal although some of the advertising was not good. Perhaps we now have a second chance with little to lose in the current climate, although OTM is currently a ship at sea without a rudder.! The rudder can be fixed !
I need a monkey survey, so please only tick your approval if you are an agent with 10 or more offices, as I want to feel the temperature of the water from multiples.
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A Total Disgrace! The monster that Rightmove have become have shown how little they appreciate us as agents that put them where they are. We should unite as agents to move away from them and hit them where it hurts in their pockets. I wonder how many bottles of champagne they got through during the meeting to decide on their response to this national crisis! SHOULDN’T HAVE BOTHERERED MAKING AN OFFER!
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Just in case you finger gets tired scrolling to Post 103! GPL MARCH 18, 2020 AT 11:46#103
……and so we smash through 100 comments before Lunchtime on PIE.
Unsurprisingly it’s all about RIGHTMOVE! NOT what they did Right, what they did WRONG!!!
In the face of a UK Economy & Population that faces a unique challenge (one that WE WILL get through”) …….Rightmove were driven by Our Industry to offer a sincere/meaningful helping financial hand?
Incredibly RIGHTMOVE offered a TROJAN HORSE Helping Hand ……a Hand that is wrapped in soooooo much Rightmove SELF-SERVING …….it must have been soooooo painful for them to offer!
RIGHTMOVE is the dog that sh£t on our lawn, scuffed its hind legs …..sniffed the air ……and walked away with a satisfying smile.
There can be NO OTHER SERVICE PROVIDER TO OUR INDUSTRY that is as loathed as Rightmove.
Today….. RIGHTMOVE GAVE OUR INDUSTRY THE BIGGEST 2 FINGERS IT HAS HAD SINCE PORTALS ARRIVED ON OUR LAWN!
Ladies & Gentleman of the Jury ….. Rightmove are GUILTY OF FAILING OUR INDUSTRY on a scale that we thought even they (Rightmove) could NOT stoop to!
The Motto for Our Industry in 2020…. “ Rightmove have shown Our Industry NO RESPECT ……..it’s time that we reciprocated “
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They still won’t leave.
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Presumably in the hope it will all be over by May!
…the offer can then be withdrawn.
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“No bird soars too high if he soars with his own wings ”
Stuff them the greedy arrogance of them
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An insult!
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this reduces their ARPA from £1088 to £950 over a year with agent listed as debtors owing them £1650
£950 less fixed costs I estimate at £230 leaves a profit of £720 per agent per month ( 75.78% margin)
£8600 profit with £1650 of debtor in the piggy bank.
They could even stop beating you when the police came to the front door!
Their whole worth is down to your data and your goodwill, I’d suggest this level of arrogance deserves a slap!
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What a disgrace.
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If ever agents needed an excuse or was waiting for a time, that time is now.
Be interesting to see what ZPG and OTM do, but they’re not as onerous as RM so not too interested.
This is the moment. Seize that pen, log in to your e-mails and get that notice issued. There will almost definitely be an industry backlash for RM surely?
Quite unbelievable. Deferred payent of £275.00 from your £1600 plus VAT invoice for three months or six months. Which one would you like?? HA HA HA HA HA HA!
They actually sat around a table and came up with this? Could you imagine the discussions?
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ZPG Announce they are doing nothing………………
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Still a more generous measure than Rightmove’s
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Absolute Joke. “Here’s a bit off but you must pay it back” who came up with this?
We will be giving notice, we don’t need RM for the next 3-6 months anyway so why pay?
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Me too. I’ve had enough of them hiking up prices in the worst markets and now this, deferring payment just increases debt if we have to cover outgoings when income drops.
It isn’t even a significant amount off their exorbitant charges.
Let’s see what OTM does or check out free listing sites. Or property content is highly valuable, why do we let others make millions out of it, while we pay them to do so.
If agents started their own portal and came off all the others, we wouldn’t need TV adverting to promote that portal, people would actively seek it. We could sell adverts on that portal and receive income from the portal instead of paying for it.
We’re nuts not to have worked together on this instead of letting Rightmove encourage us to compete by selling us premium products to increase their profits and deny us a level playing field.
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Arrogant wan…s
Signed their own epitaph
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And yet you’re still not leaving are you J1?
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I certainly am and have emailed them this very morning to tell them so………..
Have you left?
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Not an agent, but really glad to hear your decision.
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Notice given today. Fed up being treated like such a ****.
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This shows the contempt RM has for its paying customers.
What will happen if I cancel my contract?
Can I go back in 3 months and list for what I pay now?
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I doubt it very much, you will be treated as a new client and screwed more!
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But… recently almost ALL businesses were pulled “inline” with memberships, so I am not sure the risk is as high as it used to be, unless someone is paying cheap still.
No longer the case and potentially the perfect storm to take 3 months out, and reset the clock!
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New customers get a 50% discount for 6 months.
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You won’t want or need to go back SP.
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As Estate Agents & Letting Agents reach out to their local communities with NO thought about “what’s in it for us?” .
So, Rightmove appear to reach out a helping hand and then kick out as they turn to walk away!
SHAMEFUL!
SHAMEFUL!!
SHAMEFUL!!!
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That about sums them up……
Time for a change.
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That’s it……final nail and all
NO MORE RIGHTMOVE
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I like Rightmove I would even say I am a fan and in normal times.
But this much like an email I had the other see day really shows the lack of understanding about what we are going through.
Today I will start the closure of a branch and probably make 8-10 people redundant.
But it’s ok Rightmove will give me a tiny interest free loan. Which I will need to pay back right at the time that my cash flow is likely to be struggling the most.
What a joke, I am so angry right now it’s crazy.
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So leave entirely, surely?
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Alternative headline reads – Rightmove announce their ‘lubed tip’ offering to agents.
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CHISEL THIS ON RIGHTMOVE’s TOMBSTONE & Date it 18/03/20
The Motto for Our Industry in 2020
“ Rightmove have shown Our Industry NO RESPECT ……..it’s time that we reciprocated “
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or
RIP
COVID-19 to 18.03.2020
Computer Viruses Should be taken seriously.
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Oh thanks Rightmove, you’re all heart.
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Rightmove well and truly shooting themselves in the foot with this one….still the share price keeps going down
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i emailed back thanks for the offer but no thanks…
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me too but nit so polite
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Absolutely laughable. This will put Rightmove out of business. 3 months free or we are all walking collectively.
Suck it up like the rest of us!!
The power is in our hands agents, join forces and don’t let Rightmove off the hook.
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So there goes Rightmove confirming what we already knew – they are greedy, arrogant and with a heart of titanium. So glad we gave Rightmove notice when we did, we’re leaving at the end of the month and that’s what I call great timing.
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I’ve cancelled my DD and will pay them when I can.
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Doesn’t seem smart, due to debt collection? Why not serve notice?
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It’s smart to control the cash flow. I wish I could serve notice.
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I sent an email to them over 30 minutes ago and as soon as I’ve typed this I shall be doing another one serving notice and my direct debit will be cancelled very shortly. THIS IS OUR OPPORTUNITY to make them realise we WILL NOT ACCEPT THIS. All agents need to unite and see this through.
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I was going to contact them today requesting a payment holiday. We have been members of Rightmove since their conception and it is the very least they should be doing us. I have now scrapped that idea as a result of this and emailed my membership cancellation notice. I think I will also cancel my direct debit!! Rightmove, you are a total disgrace!!
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Great news!
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People. Lets just not pay lip service to this. After 3 nights of not sleeping and worrying for my staffs and my families livelihoods, to see Rightmove offer this has now made my mind up. I’m giving notice to them today. Enough is enough. £275 starting in May !! Horrrible Greedy B**tards !!!
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Well done! I’ve just bitten the bullet and done the same! Hopefully this will encourage many more of us to follow suit. See how that affects their share price.
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Great news but your post made really sad and really angry i equal quantities. They don’t care.
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What an absolute load of b******s, straight from the Boris Johnson school of economics, the only variance to the government support is we don’t have to pay interest, but then again I haven’t seen the small print. Always remember that the RM management & board serve only their shareholders, they will only sit up and notice when we say enough is enough!
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They continue to bite the hand that feeds them…not really the right move in times when their customers need real assistance.
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If there ever was the time now to make your voice is heard…it’s now. If you’re not willing to give notice completely then strip down to the basic package….remove the banners and all the other rubbish that you’ve been persuaded to pay for when they mean absolutely nothing to the customers….
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Dropping to the basic package saves us £200 a month and gives us zero extras. RM have created an all or nothing situation to suit them im afraid.
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the extras don’t give you anything extra….£200 is a lot of money….£2,400 a year (sorry to spell it out!)
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Yep, so just leave. Today.
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Wish we would all group together and suspend our listings for 10 days. On strike. May make them realise they need us to feed them with no listings – In this present time, vendors would probably appreciate and understand our reasoning.
They are asking us to pay it back at a time when the income will be less than it is now. Do they not understand that?
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Wish you would just leave. Suspension? Strike? All been threatened before, no effect.
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Their getting an email from me… DDM CANCELLED until they come up with a suitable plan that helps us all. I’m happy if they want to take down my listings as my own website is well known in the area.. I’ll post up proof of this later
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Their getting an email from me… DDM CANCELLED until they come up with a suitable plan that helps us all.
I’m happy if they want to take down my listings as my own website is well known in the area.. I’ll post up proof of this later
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Come on industry, it’s time to act. Even with the perfect storm brewing for them, they are showing UTTERE DISRESPECT for us as an industry and a complete lack of vision as to just how serious this situation is.
Soon, when the virus gets to its peak, there will be no phone calls and in any case we have two other vary able portals through which, any public still around can get to us.
RM do not deserve to survive. Their response beggars belief
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When the UK as a whole is going through troubled times, and genuine people want to help. This just sums up Rightmove’s complete lack of concern to there members !!!
I hope business who are still members use this as a reason to leave the greedy ………. I am sure that would hit their huge profit margins and maybe they might listening to people’s concerns, rather than only interested in profit margins !!
Shame on you right move, !! Genuine, honest and loyal people are finding the current times hard with so much uncertainty and this is your response !!
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Agree wholeheartedly. In my email response I have said ‘you are in a very privileged position and could make the difference between some agencies staying trading or going under’. I am not holding my breath for a response or a better offering
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Dear Peter Brooks-Johnson
Firstly, I am extremely grateful at how fast you are attempting to react to the needs of the residential estate agents up and down the UK. Nevertheless, we are about to enter a period in which our revenues will be significantly impacted and incomes will be lost that cannot be recovered.
We all respectfully ask you to re-consider the nature of the concessions you are offering in light of the fact that we will never get back the missing revenues during the period of the Covid-19 crisis.
Speaking on behalf of my own company, we still await any tangible concession to the difficulties we will be experiencing during the balance of this year. I further suggest I may be speaking on behalf of a vast majority of my industry.
I hope as a result of this dialogue, all the residential estate agents in the UK alert each other to the very reasonable request I am making of RM. Furthermore, is it not time to reward the loyalty of the businesses that have supported your company and shareholders success over the last decade?
Although these commercial discussions are very important to our industry, may I take this opportunity to wish everybody at Rightmove, my colleagues and competitors well, which after all is THE MOST IMPORTANT thing at this time.
Rob Sargent
CEO – The Acorn Group
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S41T the bed. Are they for real
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We are giving notice today. Lets see how they respond.
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Notice gone in this week. With very little activity i might be able to keep a member of staff with the cost saving and they deserve it more. I worked out it costs the same as i pay for all of the following together: shop rent, software provider, website, zoopla, phone bills, madness really.
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I’d wager very few (circa 50) agents will actually fire Rightmove even after this latest statement of contempt. There are far too many agents that will be willing to see their businesses fail than ‘risk’ coming off the portal.
Prove me wrong.
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You WILL be proved wrong Millicent. Watch their share price drop like a stone as their beleaguered cash cows jump ship by the score.
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Or wait to see competitors leave then jump in to take advantage. Imagine being THAT person.
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Imagine being THAT PERSON/COMPANY who thinks that by simply listing their stock on Rightmove then their properties are bound to sell! The market has shifted and agents need to strip back ALL unnecessary costs and focus on nurturing relationships with their existing database in addition to exploring new methods of attracting buyers and sellers with a better ROI.
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Have learnt over many years not to expect any help from RM, but this is really taking the wotsit! Email to RM on the way.
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What are they on?
They can more than afford a reduction in their enormous profit margin to help their less well advantaged customers… Simply deferring payment is not going to help.
The rest of the country is pulling together to help each other – time Rightmove caught up…
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All Rightmove’s great training on customer service for us, but they act without any understanding or empathy themselves. Fools, victims of their own arrogance and success.
This insulting offer to pile debt on their customers, instead of discount, is potentially as damaging as Ratner saying his jewellery is rubbish.
It is time for Eye to offer free property listing and invite us all to switch from any paid portal to become the trusted place for property?
Who wouldn’t trust Eye and love to have a free for agents property portal?
Come on Nick Salmon, this is your moment.
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Maybe a team up with Robert May?
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you’ll get me in trouble!
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Hard to imagine a more ill-judged response to the situation. This may well be Rightmove’s ‘Ratner Moment’.
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I assume all the agents here will be doing the same for fees to people buying homes or agent fees for renting property? Judging by the above, we should all be doing our bit no?! #JustSaying…
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Show me an agent with a 70+% profit margin and that comment might have some credibility.
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Movers can decide not to move without penalties.
Not the case when you are in a contract with RM
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AN ABSOLUTE JOKE!!!!!
My reply to David Anderson’s email this morning:
Dear David,
I have to say this is disappointing and I don’t feel Rightmove understand the true impact of what this virus could do to our economy. Deferring payments isn’t enough. The government are offering grants and wiping off business rates, not offering 3 – 6 month support which has to be paid back the same. This will just offer a short delay for agents then cause a double bill for the next few months to pay you back, which will then cause further cash flow problems for businesses. Not only that, you have criteria on this offer! How ridiculous! This is not inclusive or helpful at all!
Very disappointing, I do hope you will take my feedback on board alongside many more disappointed agents that are likely to write to you over the coming days.
Yours faithfully,
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I just asked my rep what my cancellation process is. $%^&*(!!!!
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your lucky never seen a rep in 12 years ,odd phone call , so not surprised by the way they are acting ,they are banking on online agents to keeping them going, best of luck.
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What is his & Sh1tsh1te’s email address please?
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agents@e.rightmove.co.uk Is where it came from, so I also copied in my rep to my reply.
Also forwarded to : customersupport@rightmove.co.uk
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I would have thought that the first email address above is send-only, or the inbox may not be monitored.
It seems the second email address you posted is the one to use – they give no indication in their Ts&Cs as to a specific contact address for termination.
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‘they give no indication in their Ts&Cs as to a specific contact address for termination.’
Funny that!
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cancellations@rightmove.co.uk
Here’s their response to me after sending in cancellation notice this morning…..
“We received your email requesting the cancellation of your Rightmove membership. We’re very sorry to see you go.
Your Rightmove membership is set to end: 01/05/2020, which means your properties will continue to appear on Rightmove right up until this date. Until then you can also take advantage of the reports and insights in Rightmove Plus.
We don’t want to lose you as our member and would welcome the opportunity to discuss your options. If you change your mind, you can always come back to Rightmove. We’d love to help you.
Since we’ve received this we will be in touch shortly to explain what happens next.
We wish you the very best going forward.
Thank you,”
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I have to say, Hats off to My Rep Katie, she is a true gem. Called me within minutes of receiving my email and is speaking to a virtual manager today, I can imagine I’m not the only one to ask for more. If you have complained about, channel this to your Rightmove rep, the more of us that feed back our disappointment, the more chance there is of better support from Rightmove!
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‘Virtual manager’ you say…
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Marleyandme.
Your rep may well be a true gem – but please remember she also has a fairly hefty salary to protect, and client retention will be on the list of KRAs that make up her OTE.
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I too spoke with Katie before the 75% offer was made public and was told it £150 off for 6 months or they would cancel my subscription. Since then I have received no communication to confirm my leaving. Shocking service, but not totally unexpected.
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WrongMove.
The most greediest bunch of T*ssers ever. FGS Agents please leave these leeches.
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DDM Cancelled guys… In the process of emailing them, I will reinvoke when they come up with an agreeable plan to all..
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Basic algebra. Rightmove = scum = parasites = vermin = trash = excrement = scutters.
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Is that it? Build up a debt. Pathetic. In no way does that help.
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Rightmoves’ Ratner moment.
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Estate Agents made Rightmove what it is.
Estate Agents will make Rightmove what it will be.
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Time to boycott Rightmove
We’ll be paying around £5,000 over the next 3 months (as we are tied to a contract) at a time when the market has effectively died!
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#wrongmove
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Email to Rightmove has gone:
Please could you contact me about cancelling my contact with Rightmove?
I would like to know how quickly I can do it. Is there a notice period and will this be waived under the circumstances?
When agents will be facing severe disruption and financial losses due to a global pandemic, instead of reducing your profits, your proposal to pile debts on your loyal customer base is evidence of a culture of exploitation.
Therefore, I must cease my relationship with Rightmove.
I have enjoyed great service and really good training through Rightmove. Your talks on customer service, psychology and buyer behaviour have been excellent. I’m sorry to be leaving. If your decision makers had attended the same training, I believe your offer to your agents might have been to reduce their costs and not to increase their debts.
I appreciate that Rightmove’s priority is to its shareholders, but as all investors are impacted by this global emergency they may see this as a self destructive offer.
Best wishes
Lance
The Land Office
Harpenden
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Speechless!
However it’s a one time opportunity for OTM to step up and over.. …
Standing by…
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I am also giving notice to Rightmove…If we all follow the same path, Rightmove will no longer exist and agents will be free to spend their marketing budget in ways that benefit them and their clients, rather than the greedy shareholders of RM.
This may become a necessity rather than a choice in the coming months for the majority of agents.
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FFS, and this is how they feel about their compatriots when the country is described as on a war footing?
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I have been banging on for years about a national leave RM day. Its time. I suggest 1st June to allow for two months notice
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Just shows how far removed from their customers they really are. Looks like a suicide note from RM to me.
As for trying to reason with them why bother?. Just cancel and do without and as you will find out there is most definitely life after rightmove.
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A Ratner moment.
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Rightmove showing how tone-deaf they are, and morally bankrupt.
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This is their ‘let them eat cake moment’.
Mary Antoinette got her head chopped off!!!!
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PropertyMutual welcomes any agent wishing to take control of their costs and data, and who wish they had a way of talking collective action against the corporate portals. We are not affected by the vicissitudes of stock markets as we are limited by guarantee and not by shares. Only a mutual can be there for agents in times of stress as we work solely in the best interests of agents. It should be no surprise anymore that Rightmove has acted the way it has – its investors control it. OTM is following the same path that Rightmove has and must keep reporting revenue growth to its external investors. It is time for agents to stop being outraged and provide us with industry wide inventory so we can take #collectiveaction for #collectiveimpact.
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My notice is going in today.
This is the moment. This is the time.
Recently I have been getting more business from onthemarket and they are taking £299.
Also I keep reading of people who are putting their rm money into social media which is actually better at finding vendors.
Good luck everyone. Stick together for once in our careers and stick it to RM.
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I’ve left RM a month ago… still selling and letting properties and saved 1550+VAT a month. 25% of property’s are already not on RM are still getting sold. I get plenty of leads from OTM and Z. If your scared like I was, just do it. If you bottle it a week or so after leaving it they will offer you a much better deal to come back. But they are not needed anymore as anyone serious will look at more than one portal and visit agents in the area. As agents we cannot let a supplier carry on this abuse of their customers.
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How many are prepared to give notice to Rightmove? If there are numbers prepared to do that, either Rightmove gives a payment holiday of at least 3 months, or those Agents leave. Respond to this comment and let’s see what the numbers are? Once known, these can be put direct to Rightmove, to decide whether to make a small sacrifice in their vast profits now, or lose big time in the longer run. This is your chance to do something, lets hear from you now!
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Just read the other comments and you’ll get a feel for it. We leave end of this month, gave notice last month- we’re also in S Wales
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No more than any of us expected? We are a small independent and unlikely to survive this. From an industry perspective this could be the one and only opportunity for the industry to come together and make a change. In our minds this now transcends local business competition.
I contacted our local market leader this morning, it will take a brave high profile business in any one area to make a stand to give others the confidence to follow.
They are emailing all other local agents to check sentiment and taking the appropriate action.
As a footnote, I have just called Rightove to give notice and they have told me how much positive feedback they have been getting! Go figure!
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Strip out every cost possible including portals and nurse along what business you have. This won’t go on forever.
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Emailed RM notifying them I have cancelled the DDM and also that I was appalled with their deferred payment offering, I also asked for confirmation of recipt.
Automated email back from RM stating they are working on emails dated 13th of March.. so they are 5 working days behind, so possibly an answer this time next week !.
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Emailed RM notifying them I have cancelled the DDM and also that I was appalled with their deferred payment offering, I also asked for confirmation of reciept.
Automated email back from RM stating they are working on emails dated 13th of March.. so they are 5 working days behind, so possibly an answer this time next week !.
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I honestly don’t have words for this. They are the lowest of the low. If they want to see us trading and paying them ANYTHING in a few months’ time, they’d better rethink this sh*t ‘offer’ and rethink it quick.
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So, so glad I ditched RM last summer. Good luck – and health – to everyone.
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And so the Rightmove share price continues to tumble – it was 698 a month ago, 419 as I type. I know the whole stock market is under pressure atm but it’s very satisfying to see this particular company’s value plummet.
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We have multiple branches and will be cancelling our DD today. It’s that or regret not doing it sooner when we can no longer pay our staff or essential costs.
If there is anything good to come of this awful time it’s that we have a genuine opportunity (if only by necessity) to learn to live without Rightmove.
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……and so we smash through 100 comments before Lunchtime on PIE.
Unsurprisingly it’s all about RIGHTMOVE!
NOT what they did Right, what they did WRONG!!!
In the face of a UK Economy & Population that faces a unique challenge (one that WE WILL get through”) …….Rightmove were driven by Our Industry to offer a sincere/meaningful helping financial hand? Incredibly RIGHTMOVE offered a TROJAN HORSE Helping Hand ……a Hand that is wrapped in soooooo much Rightmove SELF-SERVING …….it must have been soooooo painful for them to offer!
RIGHTMOVE is the dog that sh£t on our lawn, scuffed its hind legs …..sniffed the air ……and walked away with a satisfying smile.
There can be NO OTHER SERVICE PROVIDER TO OUR INDUSTRY that is as loathed as Rightmove.
Today….. RIGHTMOVE GAVE OUR INDUSTRY THE BIGGEST 2 FINGERS IT HAS HAD SINCE PORTALS ARRIVED ON OUR LAWN!
Ladies & Gentleman of the Jury ….. Rightmove are GUILTY OF FAILING OUR INDUSTRY on a scale that we thought even they (Rightmove) could NOT stoop to!
The Motto for Our Industry in 2020….
“ Rightmove have shown Our Industry NO RESPECT ……..it’s time that we reciprocated “
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PREACH!!!
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Having thought long and hard for months about leaving Rightmove and the impact that it may have on our business, this is the straw that finally broke the camels back. We have emailed our notice to cancellations@rightmove.co.uk and sincerely hope that this the beginning of a new dawn for our industry……without Rightmove!
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Thanks for sharing that email address for cancellations. I’ve made use of it.
I hope to see a free for agents property portal available soon, why pay anyone to use our content to make themselves money?
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Just cancelled the DD. Sending one months noticed letter today. Even six months free, won’t be enough with this current problem. One branch company. I will risk it just being on one portal. Over this period, lets be honest not much is going to happen.
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Good man…I cxxxld mine too.. will email notice to keep myself right..
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We were the firm that gave notice last week and were the subject of the story on here on Monday regarding the email response from Rightmove saying they were a week behind replying! As an industry, give notice, take back control. We will be saving £1850 plus vat per month from the end of April and I am looking forward to not seeing that payment going to Miles and his cronies anymore. They could have dominated the industry for ever, but this crass attempt at help will be the biggest back fire in the history of business and will be debated and studied in business school for years to come. Gerald Ratner feels reassured that he will be finally forgotten about, to be replaced by the Rightmove moment!!!!
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Very succinct precis of an idiotic and commercially suicidal ‘gesture’.
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Dear Fellow UK Estate Agents
I am astounded by the groundswell of your feelings and the response to my post on Property Industry Eye this morning.
I will respond to everybody who has reached out to me by email as quickly as I possibly can, and I do not intend to let this drop until Peter Brooks–Johnson and Rightmove give us all the kind of response and concessions that we deserve.
Rightmove expect us to carry on taking the financial commercial risks to ensure their portal has the latest property stock, so it is only fair that our continued support of the portal is rewarded. Please continue to share and ‘wake up’ all of your friends and agents in your locality to this dialogue.
I wish everyone well, and as an industry we WILL prevail with or without Rightmove’s assistance.
Rob Sargent
CEO – The Acorn Group
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Rob?
You surely were not “astounded?”
…….Rightmove’s action today was just the final hammer to the nail they have been hammering for years?
PIE has been the focus for a lengthy period, re Agents comments concerning Rightmove’s relentless financial persecution of Agents income, in relation to “fair & reasonable” portal fees
Today’s outpouring here was as predictable as the air that we breath.
Graeme
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Wasn’t there a full post with yours from another chap too on “Your Post” Robert??
Team effort.
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Hi Robert,
Can I please take your email address?
many thanks
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robert.sargent@acorngroup.co.uk
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Wonder how many fingers they’ll show you, two would be bad, one just awful. Do let us know.
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Without is so much more appealing.
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1 Million Purplebricks Shares Offloaded around 10am this morning….. at 26 pence each.
Rightmove dropped almost £1/18% at 12.40pm today.
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Of more significance to this thread as a % of issued share capital is the 2.78m Onthemarket shares offloaded this morning, taking the share price down to 40p and the market cap. down to £28m. Companies limited by shares cannot provide a long term solution to this crisis in the industry.
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…and another 650k hoovered up within a couple of hours at a mahoosive 1.25p more per share.
Funny thing is if they’d waited another hour they’d have got them at the 26p – or even less – that the first two 500k tranches turned over at!
Looks like one of the big investors digging their fingers deeper into the crumbling blur/red mix masonry.
Just to emphasise the effect of the last 2 years or so of constant pressure from many sides – except of course the “industry regulators and authotities” who continue to turn blind EYEs to anything purple-tinged – and a not small nudge over a precipice courtesy of global virus hysteria, had those 1,650,000 shares changed hands in August 2017, their value would have been in excess of £8.25 million.
Today – they sold for a combined total of £437,125.
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So – it looks like it was TossaFund that flogged off many if not all of the empty bottles that once were full of PurpleChampers.
Wonder who hoovered up and collected the empties in the PurplePub yesterday?
I would have thought that they’d have been the buyer – it would have made the average price paid for their humongous pile of virtual shares in this virtual “Estate Agent” a bit less…
…even if they would still have been worth virtually nothing!
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Sadly this is what we have come to expect from Rightmove.
They won’t have a business if we all go under due to lack of income and no cash flow. Shameful from a company that makes such massive profits from company’s that don’t really have a choice but to advertise with them. Roll on a time without Rightmove costing us 30k a year for 2 offices.
Now solicitors will not exchange contracts with completion that are not simultaneous due to concerns of breach of contract if completion cannot take place (which I accept is correct in the current situation), it looks like completions of agreed sales will now be after the current crisis is over or is under control. We have very tough times ahead of us.
I wish all my fellow agents all the very best.
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Shouldn’t be surprised by RM. Just sent Notice letter and cancelled DD.
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We spoke to RM earlier this week following a review of our portal costs.
What I found really concerning was RM’s statement that our membership fee would be increased by a whopping 58% if we decided to leave and then wanted to rejoin. 58%. This style of business doesn’t sit comfortably with me.
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Another good reason to leave. 58% to rejoin after taking a break during the worst blow to free movement of buyers and sellers in the face of a global pandemic. Shameful. They could have acted so differently and won loyalty if they took their share of the pain we and the entire economy will go through.
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Are you leaving then?
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I have just left Rightmove, I pay £9,500 per month for 3 branches of sales and lettings, I have been with them since 2008, I rang to say please help, I am about to lose circa £50,000 per month income. they point blank refused, I have rang Zoopla and OTM and asked if they offer me a deal which means I don’t have to pay for a few months then I will join them. I think they will do it.
I truly believe this is what my business needed.
Agents we will get through this if we make the tough decision now, do not delay. if you have a business like mine our cashflow will very quickly dry up in the event of a rent break, lock down.
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£114,000 a year for a website! HolyMoly! That’s quite the fighting fund you’ve got building up there now.
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Brilliant, that is a massive help! Thank-you gold hearted Rightmove. Total disgrace and typical of the sorts of thing they do. I for one am not surprised at all.
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Let’s face it, not enough agents will leave to make a difference to RM. They will just increase fees once this is all over so the ones that stayed will incur higher costs. This conversation has been going on for years and gets nowhere. Credit to those that do leave.
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Have you left Sir/Madam???
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No.
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Are you going to?
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I don’t know to be honest. I can see an argument for both sides. Of course they charge way too much and in my opinion have acted terriby today. At the same time my managers in my 6 offices are telling me their clients are still asking for it and begging me not to cancel! I think at the very least they should have given a free period of time, or offered 50% off or something like that.
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If you don’t you may shortly be deciding weather to keep paying for RM or keep paying for your managers. The begging will soon stop.
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Maybe your managers can part-pay your subscriptions, let’s how keen they are then.
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Cancelling forthwith, my money deserves a better home.
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Wow my son has terminated his relationship with Rightmove. That’s approximately £10k per month saved by his agency and lost by Rightmove. Desperate times require brave, decisive actions. Well done, I believe you have done the right thing. When the good times return (and they will) there will never be a return to Rightmove. It’s done now, that is that as they say!
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Wow my son has terminated his relationship with Rightmove. That’s
approximately £10k per month saved by his agency and lost by Rightmove.
Desperate times require brave, decisive actions. Well done, I believe you have
done the right thing. When the good times return (and they will) there will
never be a return to Rightmove. It’s done now, that is that as they say!
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Dear Rightmove
I am giving you notice that I wish to cease your services immediately. I have been with you since day 1 and during this time, you have treated me with disrespect.
The outrageous offer you have made to some agents today in regard to the corona virus meltdown is the final insult that I will take. Recently we have had more genuine enquiries from onthemarket.
Please confirm receipt of this email.
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If anyone would like to list properties in Devon on something free, you’re all welcome to put them on my facebook group Property For Sale or Rent in Devon if that helps anyone. Taking the initiative as sick of Rightmove now and had enough of their price hikes.
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Out of the frying pan in to the fire springs to mind.
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They’ve just signed their own death warrant and good riddance too.
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Cancellation letter and email gone, in that time the first sale has fallen through, due to the current situation and expect more. So I know I’ve done the right thing. If Rightmove was a personl they would certainly be know as narcissistic, as it has all the right attributes.
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Rightmove is doing you/Our Industry an overdue favour ….. their lack of positive action gives us NO Choice.
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In times of trouble there are ripples of opportunity folks.
Rightmove is furiously shovelling its own grave. OnTheMarket can’t decide whether to step forward or run back ……and Zoopla are caught in their lone furrow of indecision. Purplebricks are on fire…….
We are looking at dark clouds however there are positive “ripples” of opportunities in our own hands …….I’m sure we are now looking even harder at our own websites, social media, local marketing etc.
To step forward, its time to step back and reenergise some of the old ways ….if you haven’t already.
Rightmove’s slap in our faces hopefully heralds a New Dawn in that we withdraw our reliance on an Advertising Portal that failed us ……and kick-start Estate Agency & Lettings at a local level across the UK.
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OTM-free listings for 3 months and everyone pulls off RM.Your company then will be worth say 2 Billion.Surley there is someone out there that would underwrite this
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Here’s a clue to managing a “bad share-price” day
…… a little Rightmove Investor Article dropped earlier today as their share price plunged…. (it doesn’t mention that Rightmove are loathed by the industry they supposedly serve/dominate ……nor does it mention the impending implosion when the exodus of agents gathers speed).
Good Ole’ Rightmove ….. not looking after us, looking after themselves!
Has Rightmove (LON:RMV) got a moat?
When it comes to searching for companies with moats, some of the biggest clues actually lie in their financial statements. By looking at a small number of important ratios you can get an idea about the competitive strength and profit power in a business. Here’s what they are and why they are important – and how Rightmove stacks up against them:
High rates of Free Cash Flow – the measure of a thriving company.- A high ratio of free cash flow to sales can be a very positive sign. For Rightmove, the figure is an impressive 63.4%. High Return on Capital Employed – the measure of a company growing efficiently and profitably.
A 5-year average ROCE of more than 12 percent is a pointer to strong efficiency. For Rightmove, the figure is an eye-catching 1,233%. High Return on Equity (compared to peers) – the measure of a company making good profits from its assets.
Rightmove has a 5-year average ROE of 1,407%. High Operating Margins (compared to peers) – the measure of a company with pricing power
Rightmove has a 5-year average operating margin of 73.2%.
……and so the article goes on, prominently positioned near top of Google, just carefully managing that share price fall, shoring up confidence, attracting investor bees like honey!
Meantime ……bedlam behind the Rightmove Window Dressing.
The clouds are circling at Rightmove ….. We know it. They know it.
They’re just tarting up the facade to make everything look fine from a distance!
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Investors in the near future: What the hell happened to Rightmove? We didn’t see that happening!
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Oh, 1 House on today, 2 Viewings, I Offer ……..that’s the coal face for a working Estate Agent.
F£ck You RM.
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1 renegotiated, 2 viewings and 1 on.
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Hi Rosalind
Would you please ask Peter Brooks-Johnson at Right Move for his response to the above reactions to their pathetic offer.
It will show their true colours!
Thanks
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Ask him if he’ll take a paycut to show true solidarity.
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Don’t forget all you Letting Agents using Van Mildert you are also funding Rightmove. Time for a change there as well I think.
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My account manager called me there.. no doubt in reply to my to the point email and cxxld DDM… he wanted to discuss things.. the call lasted all but 10 seconds.
He was told to get their act together and come back with a meaningful arrangement.. phone down..
If your not walking this is the way to deal with it guys.. an account manager has as much pulling power as an elastic band..
Keep it short, and very much to the point
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This demonstrates, beyond any doubt, why we left Rightmove last year. They have no grasp on reality. They don’t care about the customers, it’s all about maintaining their absurdly high net profit percentage.
Since we left them last June, business levels have increased, we have approximately an extra hour per day not having to deal with the spurious email enquiries they send through that go nowhere and, from our 9 months of research prior to leaving, the serious buyers or tenants prefer OnTheMarket or Zoopla because properties are easier to find.
As we have said many times, Rightmove is now a property referencing service, not a portal. Just look around you. People check it to see what their neighbours house is up for or, if they’re in a new town/area, what house prices are like.
But, no doubt agents will stick with them because of the fear factor of leaving but we can honestly say, it is a benefit not a curse and we dread to think what will happen next year with their fees. Probably another big hike just to compensate for those who had the common sense to leave in 2020.
As we have said many times, on Twitter (@martinkemps) the stewards on the Titanic were still shuffling deckchairs as she went down!!
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Late in the day but possibly the best post on this thread. Would be really useful to have more ex-RM members sharing their post-exit experience. There are many out there now and I’ve not read of a single one running back with their tail between their legs. We’ve all had the partner that we know isn’t right for us but you never get round to parting from when you should – remember the feeling of elation when it was over? You’ll get this when you quit Rightmove.
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“ We’ve all had the partner that we know isn’t right for us but you never get round to parting from when you should – remember the feeling of elation when it was over? ”
You need to get over it Property Pundit 🙂
On a serious note …… Yes, a Feature entitled “Life after Rightmove …….what happens after you escape”
Contributors feel free to email me (if Ros will allow?)
gpl@blackhay.co.uk
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So 178 comments and all saying you are going to leave, but how many will. I have heard this so many times and yet agents still do nothing. All that will happen is your bottom line will be squeezed and right move will come calling in 2021 looking to pick pocket what agents are left. The only way they will sit up and take notice if you hit them in the pocket, they only listen to their shareholders not their customers. If you don’t do it now what will it take to leave, Bankruptcy?
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Tj?
If you don’t see this time as being different, then I can’t help you, other than to say…..
Everyone in life has their breaking point …..even Estate Agents.
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Handed in my notice today, I’ve two branches, I’ve had a real bellyful of them taking the Mickey, they just dont get it do they?
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….and taking a break away from Rightmove
Who knew….?
Sainsburys & Morrisons Supermarket Shares up over 10%
Instead of folk buying Toilet Rolls …..they should have been buying Supermarket Shares!
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Called RM today, the accounts/billing option was busy, so I selected the option “if you’re interested in joining RM press 1”, straight through! Eventually spoke to my new a/c manager. I thanked him for his company’s generous offer, he actually thought I was being serious, I had to explain it was anger cloaked hiin sarcasm. I explained the contents off this thread to him and agents thoughts and anger which he dismissed.
He gave me options of £150 saving if I reduced to “enhanced” and £550 saving if I went onto the basic package. I told him I would be doing neither and instead would be leaving them at long last. I then had to dash out to a take on, let’s be honest they’re going to be rare so I dare not miss it!
The end result is that my cancellation notice is going in tomorrow & my DDM will be cancelled. I have spoken to numerous agents today and all have expressed a desire to do the same. Good riddance.
Now is a massive chance to get behind OTM, we had a chance when it was a mutual but not enough of us had the gonads to stand up to the bully. Now is the time to take positive action.
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NOW is the time to send a message to the UK population that Rightmove is no longer the first website to check for properties for sale.
OnTheMarket is! Zoopla is!
All estate agents should unite – especially the massive chain estate agents – to sink Rightmove.
Profiteering at the expense of the customer who keep them trading is scandalous!
The World is looking after one anotherr, and this is not a business model that is. Even the Government is helping the wider population, which is rare to see ever.
Rightmove had their first impression to make in resposnse to the crisis, and ‘pay, but just pay later’ is simply awful.
CONVEYANCERS – we can all help – make sure when acting on a purchase, that you stress at the end of a transaction (and in your Property Report) that when selling, that Rightmove is incredibly unpopular with so many agents saying they take advantage of estate agents, and they must not dismiss an estate agent who does not use Rightmove (if Rightmove is even still trading) and to make sure their estate agent is on OTM and Zoopla.
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Rightmove who the f*** are Rightmove, I got all my leads from OTM today and saved a fortune, for all you suckers who say your leaving Rightmove oh no you won’t your too scared.. ha ha do you want to sell your business now or when Rightmove bust your guts…. PM me I’ll buy your stock.
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That’s what we all need right now, the smug musings of a charmless twerp with poor grammar.
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Notice is given on 4 offices today. Been a **** 24 hours having to put in place drastic measures including pay cuts so that we survive.
The Rightmove decision is the one thing that put a smile on my face. Would be great if we could accurately measure how many other offices did the same?
Thank you for contacting Rightmove Cancellations team. Please accept this email as confirmation that your enquiry has been received.
We aim to reply to your enquiry within 24 hours, during busy times we appreciate your patience. However, if your enquiry is of an urgent nature, you may wish to contact us by telephone on 01908 712238. Please note that our opening hours are 8:30am-6:00pm Monday to Friday excluding Bank Holidays.
Thanks again,
Rightmove Cancellations team.
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‘during busy times we appreciate your patience’ made me laugh – I’ll bet they are really busy at present responding to all those cancellation emails! Serves them right.
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Be Brave Be Bold – JUST DO IT……..
I have given notice to Rightmove this morning, and it feels good!
Zoopla offered me great discount yesterday – as soon as I explained my predicament they listened, they do want to help Estate Agents.
Now time to join OTM
Rightmove will no longer be the first website to check for properties for sale if you all stand up to them.
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Now, now, Ma’am… you’re running the risk there of copyright infringement with that “JUST DO IT” malarkey.
I’d hate to think that a respectable Agent like your goodself fell foul of such legislation over a technicality – especially in light of the fact that it was born in the Estate Agency world.
At least, the original version was….
Some 25 years ago an old Boss of mine – great guy by the name of Mark Newton – imparted on me what is one of my most oft-used acromyms:
“J.F.D.I.”
I’ll leave you to work out what the second letter brings to the game – but in times when PMA required things to be ‘bold, precise and compelling, it was frecisely F*****g that!
Jeez – I F****** LOVE that phrase!!
Now I’m pretty sure some high flying hotshot (ex-Estate Agent, obviously…) sitting in a marketing meeting at Nike Towers remembered that rousing call to action and thought “That’s the very strapline we need”.
Newtie deserves royalties – or at least industrywide recognition for his geniosity.
After all, imitation is the sincerest form of flattery, innit!
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I’ll give you a thumbs up for that PeeBee to balance the thumbs down from your biggest fan.
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Good afternoon ,
We received your email requesting the cancellation of your Rightmove membership. We’re very sorry to see you go.
Your Rightmove membership is set to end: 01/05/2020, which means your properties will continue to appear on Rightmove right up until this date. Until then you can also take advantage of the reports and insights in Rightmove Plus.
We don’t want to lose you as our member and would welcome the opportunity to discuss your options. If you change your mind, you can always come back to Rightmove. We’d love to help you.
Since we’ve received this we will be in touch shortly to explain what happens next.
We wish you the very best going forward.
Aimee Elliott
Customer Experience Team
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Oooooh, I’ve got one of those too…exactly the same! Bet you get a few calls with discount offers to stay around the last week of April!!!
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I am a Director of a market leading agent in a market town within the East Midlands.
We have 12 Sales and Lettings branches and we have today cancelled our direct debit and handed in notice to terminate our membership.
We will never return.
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FANTASTIC NEWS, the contagion is spreading (apologies for this bad taste term but it will take this to bring them down)
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Independent in West Midlands here, served our cancellation notice today. Onwards and upwards!
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