I spent time this week with one of the leading competition law barristers in the UK to explore whether Rightmove is unfairly increasing prices to its customers.
First we looked at whether we could refer Rightmove to the Competition and Markets Authority.
Is Rightmove in a dominant market position? Yes, in my barrister’s opinion.
Rightmove is No.1 and has a greater than 40% market share.
An investigation by the forerunner of the CMA, The Office of Fair Trading, in 2012 approved the merger of DPG and Zoopla and concluded that it was in the interests of consumers because the combined business would stand up to Rightmove.
At that time Rightmove had between 45-55% market share, with 47% of visits and 75% of page views. I doubt it’s shrank back since.
Secondly, is Rightmove taking action to exclude competitors from entering the market, or is it achieving rewards that it could not ordinarily expect to achieve in an ordinarily competitive market?
On the first charge, no. In fact a significant competitor, On The Market, has set up in recent years.
Whether its rewards are too high turns on the value of the leads Rightmove is generating for your business.
The case of At The Races vs British Horseracing Board was settled at the Court of Appeal. The case involved the price of data, so there are obvious parallels: Rightmove leads are data.
The High Court determined that data should be sold at its cost price plus a reasonable mark up. The Court of Appeal disagreed and said that data was worth whatever the party seeking to acquire it would pay. So Rightmove can charge prices for its data which reflect the value of that data to your business.
The CMA is not obliged to investigate all complaints made to it. It has principles which it applies to decide which cases are worth investigating.
For every £1 it spends on an investigation it has to show that there would be £10 of economic benefit to the UK.
The CMA is currently particularly interested in how a first-mover advantage online can translate into an entrenched dominant position. I don’t think that applies to Rightmove, which is long established.
To get the CMA interested in Rightmove someone would need to fund an Economic Assessment by one of the recognised economic consultants which service the competition industry.
They would gather data from agents to build a case and they would ask Rightmove for data to complete the assessment. Rightmove would not be forced to provide the data, but the consultant would explain to the CMA what data is missing, and if the CMA was minded then it could demand Rightmove hand it over to the CMA.
The cost of an Economic Assessment is circa £50k plus solicitor and barrister costs to prepare and review the case for submission. Let’s call it £100k all in.
The CMA would take between 12 to 18 months to reach a conclusion.
It could tell Rightmove to stop infringing competition law and it could fine Rightmove. An infringement would open the possibility of a separate action by Rightmove customers in the courts to claim damages.
However, the most likely outcome is that Rightmove would at some point in the investigation enter into a settlement agreement with the CMA to take action to stop infringing.
Our barrister then turned to the second option which gets regular airplay in the industry, collective bargaining by agents.
I have stated on EYE before, that it is not correct for individual businesses to exchange confidential information about their “cost inputs” i.e what they pay for Rightmove.
Our barrister confirmed that this exchanging of information is competitor collusion and is potentially illegal. Rightmove might perfectly reasonably reach out to its lawyers.
I’m also told that the standard Rightmove contract does not say that their price information is confidential, but we recognise porn without being told its porn, and confidential commercial information is recognisably what it is, confidential.
My barrister confirmed that organising a collective boycott of Rightmove is potentially illegal under competition law. Individual business owners will have to make their own minds up about the value of the data which Rightmove provides.
At The Property Franchise Group, our franchise structure means that we can collectively bargain with Rightmove, and where the data supports the decision we will continue to advertise.
Where it does not, we will use other channels.
* Ian Wilson is chief executive of The Property Franchise Group which had earlier sought to refer Rightmove’s price hikes to the CMA. EYE has asked Rightmove to comment on its price hikes, including an invitation to submit a bylined article, and we do hope to carry this.
….as I was saying, Rightmove is a good business it simply charges unfairly and too much
I’ve been a service supplier to this industry for a very long time, I trained the best sales and training teams in business; well mannered, polite and respectful of agents so I have a very good idea how portal reps should behave. I also know how to out-think them and how to provide logical arguments neither the reps nor their superiors (right up to the top of the chain of command) can overcome.
The best place to begin your preparations for a haggle with a rep is with your own staff. Would your staff rather you carry paying portal investors a dividend or would they prefer you to pay them?
As the pressures on the industry grow, not just on agents but everyone, the pressure on where to spend money increases. If agents do not have good quality staff they will not win good quality instructions. If an agency has nothing worth listing what is the point of a portal subscription?
“I used to be an agent but closed, I had a lot of unsaleable stock on a portal I couldn’t afford. My vendors were happy I listed on the portals until they realised it’s the agent that sells a property not a portal”
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Robert,
The entire argument around Rightmove, boils down to one sentence in this article: “Individual business owners will have to make their own minds up about the value of the data which Rightmove provides.”
I find them expensive, but I haven’t found an alternative that delivers the same results in terms of visibility, leads, etc. for less. If/when I do, I’ll drop them.Vendor expectation is also an issue, but I believe I could work my way around that in a valuation.Point is that I make these decisions on my own, and take responsibility for them.
I don’t understand people going on and on about how they’re victims of the horrible monster that is Rightmove. They are an option for a marketing channel, and it is for each practitioner to decide to use them or not. We don’t need a hero to lead us into picking up our pitchforks and call for revolution against Rightmove.
Value is subjective, and two people could be paying the same amount for the same service and one consider it unfair and the other may see it as a decent deal. This is one of the reasons the maths you did in your latest article are not very useful. The numbers are inaccurate to begin with because the ARPA includes new homes developers, who I imagine have a totally different pricing structure and would completely skew the average. Secondly, your example of using two agents as a model for the equation is overly simplistic. But mainly, it is impossible to have a discussion about value by only focusing on the price tag.
If I were to tell you that I spent £30k on a new car, would you be able to decide whether that was too expensive or not? Even if you worked out average car prices and manufacturers’ profit margins, you would not be able to determine whether that car is right for me or not.
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Haha, this is brilliant. Robert May please come out with another set of paragraphs in response to this comment. I can’t wait to see another load of figures and analogies that no one gives a **** about.
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Maxwell73
“The numbers are inaccurate to begin with because the ARPA includes new homes developers, who I imagine have a totally different pricing structure and would completely skew the average.”
New Homes developments account for fourteen percent of Rightmove’s total number of PROFIT Centres. Even if, for example’s sake. you guesstimate they pay double the amount that a Resi Sales office pays, that would “skew the average” by a not-in-any-way-ever phenomenal 11.4%.
Or, put another way, twenty six quid per week… hardly enough to shut a branch over. It’s the other two hundred plus that ‘yer average’ Agent pays that potentially determines that decision.
If the figures don’t bother you – then why dispute them? Or why not come back with what you consider a more appropriate figure?
If Rightmove deliver their blows by quoting “averages” then they are going to get counter-blows delivered right back at them using the same gloves.
You say that “The entire argument around Rightmove, boils down to one sentence in this article: “Individual business owners will have to make their own minds up about the value of the data which Rightmove provides.”
You omit that the paragraph starts with “My barrister confirmed that…”, and goes on with the sentence you believe most crucial. I would suggest that Mr Wilson’r barrister may not quite understand the difference between the value of data and the cost of simple fear of the unknown.
And if your £30k car was sold to you by not-so-subtle suggestion that no other car but this one would get you to your next destination and that by not riding in it you would be lucky to get anywhere at all, never mind last of all – then how many other garages would you visit and what other models of £30k car can you honestly and sincerely state you would test-drive before finding your happy new motor?
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I have an idea and with the support with the majority of other Rightmove subscriber’s can we collectively get together via a Facebook Group etc and form a party to inform Rightmove that we do not agree with their new pricing structure.
If they continue with the increase we can stop direct debits etc.
We can protest on social media against the increase.
Please let me know your feedback and whether this will be a worthwhile exercise.
I believe the power lies with us as agents and we all need to collectively get together and go up against Rightmove.
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Okay, we’ve all had our few days of fun pretending like we don’t need Rightmove. Can we all get back to work now?
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You have either won the lottery, you have inherited a fortune or you’re a neg who’s hauled up, is having a coffee and having butch through ‘offer ready applicants’ the portals have delivered to your desktop.
The luxury of delegating the job to the portals is over, anyone not bringing in the sales to cover their wages and the cost of the portal subs probably ought to be thinking what else they can do because from personal experience taking a commission only associate job will become the only way some people continue as agents.
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It made me laugh that you bothered to specify that I might be drinking coffee. Damn, you got me good.
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But sort of coffee? Basic one made at home, one of these fancy machine types, or are you a fancy London neg and got a Costa on the way in?
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You Sir, are making light of a man who talks as much sense as any contributor to this forum and who probably has more knowledge about our industry in his little finger about our industry, where it’s been and where it’s going than you have in your entire body.
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I love the banter! When they have their own business they will want someone to say things to their staff they can’t.
Besides it’s more likely to be one of those pleasant sorts who breeze in with a script, a bucket full of confidence and a vets glove ready to give you a damn good…….. (Suzanne will make me take it down if I say)
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Funny and sad in one post!
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What a surprise. Nobody is going to do anything. Did not see that coming!
As predicted TPFG will reach an agreement with RM.
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Excellent information thank you and shame on Rightmove that they see all this going on and do not recognise how abhorred they and their practices are and respond to the market view. Hopefully their shareholders will call a meeting soon and have a voice of reason and touch of reality injected into RM.
I also believe RM is squeezing out competitors by hiking prices so much – we are having to look at what we pay to portals and I do not think we are uncommon in that we have cancelled other portals just to be able to support funding the RM bill!. Interesting ( and very unpopular) way to gain market share indeed.
I still support us not promoting and giving free advertising to RM with all the banners we promote in our windows. emails, boards etc. We are helping and promoting the monster.
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Never in the history of PIE has the need to be able to post the popcorn eating gif been so required
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I’m more interested to hear how Ric’s meeting with RM went.
Did they leave with all their limbs?
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Not sure I will win Independent Agent of the Day award for the rest of this.
haha…. I’ve signed up for the optimiser, purchased shares, resigned for a 5 year contract, with 15% increases each year and they are popping back to do some training. They were ****** good. (Joking obvs)
On a serious note, as I have said before, Rightmove offer the best site to be fair, they also give me a invaluable tool, being the Best Price Guide! God help the day I would have to start collecting news papers again, or trawling each individual website for price comparisons and then get on Land Registry to compare the sold prices!
More so, the public only want to go on one site if possible! Think end user and to be fair, they have simply created something the public love. But make no mistake we can alter that opinion with stock! Empty shelves, buyers stop visiting.
Hate the increases, but then hey hoe…
I still challenge and my only challenge is the post code coverage when one company has 4 offices and another agent with 1 office covering the same 5 to 6 mile radius and their view is, tough luck, if I choose to open an office I am forced to pay for a membership or pay more on another membership because that office exists.
I would happily join in the bash RM brigade but I find myself increasingly concerned perhaps the problems lie much closer to home and as we will never collectively as an industry put our words in to action, we must now all put up and shut up. Something most early OTM gold members said, once OTM fails, then it is put up and shut up, we are where we are by choice now.
1. Who wants to come off?
2. Who WILL come off?
Only question 2 actually matters.
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As always, the voice of reason.
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Ric….
You say “we must now all put up and shut up”. Really?
I didn’t realise I gave you permission to speak or think on behalf of me.
Remind me, when did we have this conversation?
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Really? Yes. My opinion, we should or individually have the balls to do what we believe in. Fight your own fight. It is all a bit boring in my opinion, nothing new, this is like YAWN… RM Rip me off…. what should we do?
Permission: You Didn’t, and if you did I wouldn’t, reads to me like you can think for yourself. Although wonder why you did not think Ric may not actually be trying to order someone, and perhaps just “passing an opinion”. But funny you got a tad wound up it seems, over a comment which I think I will stick by…. PUT UP OR SHUT UP?
Conversation: We haven’t. But then were you even part of my “all”, honestly, assuming you were in my “all group” – you are not now. You’ve upset me and I no longer want to be friends. *Ric sighs, spoilt my weekend that GPL*
Anyway have a good day all – (PS for those reading this, that isn’t an order to have a good day… it’s like a general well wishing comment, you can have a ***** day if you want to… or an average day even… well whatever day you want… oh sod, my sign offs, are gunna go on forever because of you GPL.)
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It’s fine to disagree Ric…
As long as we reasonably respectfully have our say.
If we start rolling around the playground and punching each other then we’re in trouble.
In the meantime…. Conkers at Noon!
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I was always told by my rep that everyone paid the same amount and there was zero flexibility. As Ian says, there is nothing to state that the contract is confidential. whilst I agree that colluding to share information in an attempt to fix prices could be interpreted as cartel like activity, I do not agree that using a public forum to discuss whether consumers (agents in this case) discussing and establishing whether the contract with a company has or has not been made under false pretences (stating there is a fixed rate card for all) can be unlawful or illegal.
It is in the public interest if it can be established that any company but, particularly a PLC, has used misleading/ false information in order to establish a contractual relationship. I.e. “everyone pays the same and receives the same contract/ deal’. Clearly, if everyone is NOT paying the same for the same service, having been told that they would be/ are then, I would argue, those contracts may be null and void. Based on the information shared on these pages, it would appear that agents are being charged different amounts for the same service. Fine, if agents were told that they were free to negotiate a package, not so good if agents were told that there was a rate card that everyone paid.
I wish to make it clear for the sake of Nick and the Eds’ nerves and the desire not to have to fight off another PLCs’ cease and desist letter, that I am emphatically not stating whether this company has done anything wrong, unlawful, immoral or illegal, I am exploring and debating information and opinion that is is in the consumers and public interest, that is rightly subject to debate and investigation, like any other business.
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Rightmove have no desire to be liked; their business model is based on being indispensable, which means they then abuse their power position.
Most of us hate RyanAir but use them as they fly to where we want to go. As soon as someone else flys there, we will gleefully leave RyanAir.
The same is true if Rightmove. Sadly the competitors do not yet offer as good results or user friendly experience. When they do, we will get more leads from them and we can gleefully leave Rightmove. Until then, we are being abused and must either suck it up or risk hurting our business. As my mum said, life is not fair.
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That is not quite correct any more, Rightmove are redefining areas and adding functionality because of stuff we are doing. We might not be big but we are punching well above our weight!
They’ve become over confident and disliked, they are making it easy for me to wander through doors that are being opened before I’ve even knocked.
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Mr Lester
“Until then, we are being abused and must either suck it up or risk hurting our business.”
You “risk hurting your business” with every MA carried out.
You “risk hurting your business” with every negotiation you undertake.
Do you see those as things that “risk hurting your business”? Does that make you wary of doing those things?
Frankly, if you shied off every chance of “risk hurting your business”, you wouldn’t even turn the lights on in the morning.
There is a risk with everything. “Risk” – or the identification and avoidance of it, at least – is an industry in itself these days. A big-money industry.
But “risk” isn’t new. “Risk” has always been there. It’s our attitude to it that changes.
When you were a kid there was a risk that jumping out of a tree would end in tears. Sometimes it did – but it didn’t stop ‘the kid’ from jumping out of the tree… or from doing it again when the previous scratches (or even the occasional broken ankle) had healed!
(In the spirit of transparency I should point out that as a fifteen-stone teenager I didn’t ‘do’ trees – but could just as easily end up with my lower extremity in a pot simply by stepping off a high kerb!)
I still crossed roads…
Next week, two people are taking massive “risks”. I am taking the risk of leaving a secure job that I love and embarking on a new career, away from the coalface where I have plied my trade in one capacity or another for 39 years. My new employer is taking the risk of being able to successfully turn my experience and ‘skills’ gained on that coalface into a tool that can, in some minute way, help shape and change the landscape of an industry which is seeing its’ biggest challenges mount up.
We look at this “risk” differently. We see this as an opportunity, and have grasped it with enthusiasm.
Look at your perceived “risk” – and instead of seeing it “hurting your business”- how’s about seeing it as something that potentially presents an opportunity?
Just a thought… and I’d appreciate yours in return if you would be so kind.
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Thanks for the insight Ian.
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Thank you for the update Iain, it makes for interesting reading. For me it does not end the “debate” on Rightmove’s charging structure or annual price increases.
I’ll move forward in my own way with Rightmove and no doubt many other Agents will carefully review their interaction with Rightmove as a portal and debate direct with them on the value they offer and the reasoning/justification of automatic annual increases.
Rightmove remains a supplier to Our Industry, it is NOT Our Industry ……so, as clients question our services/charges etc we clearly MUST DO LIKEWISE with our suppliers.
The Portal Gravy Train will continue unless we individually question the value that Portal Companies deliver.
It’s clear that Rightmove Subscribers are already individually questioning Rightmove’s value/charging structure …..I for one urge individual Rightmove Subscribers to engage with their Rightmove Account Manager to examine the value that Rightmove delivers in relation to whatever charge they are paying monthly.
The debate has NOT ended, nor should it.
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£100k…. So why not crowdfund it?
The simple question that should have been asked of the Barrister having established that they do have a dominant position is “are they abusing that dominant position.”
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The only way of changing the current situation is to pull the stock from them. If the majority or a significant number gave notice and used just Zoopla and/or OTM the prices would soon come down.
Until then rightmove will continue to milk the industry.
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There is so much irony to this situation. I appreciate Mr Wilson’s no doubt authentic but very short lived rebellion, and that he has subsequently shared this information with us. Ultimately though, I doubt many of us are surprised by the legal advice.
What is so infuriating I think is that you’d struggle to find many more solid examples of a company exploiting it’s position in the market. You look at RMs profit margins, it’s seeming lack of investment in products or services as value added and the fact its customers generally hate it…and it all stacks up. The problem is getting anyone who can do anything about that (outside the industry) to care.
The fact that the top 3 or 4 independent agents in an area can’t legally get together to agree to withdraw their stock from RM to counter balance this exploitation is an unjust and proven failure of the law.
So basically, whilst all entering what is going to be a very challenging period in our industry, for us to do anything about this situation (legally) we have to independently press the gamble button that we can withstand any downturn in our businesses resulting from our local competitors using our withdrawal from RM against us…which of course they will. Very few agents (if any) will want to be the first to come off.
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“£100k…. So why not crowdfund it?”
Quite feasible I would have thought….
What I dont understand is that you cant discuss anything with other agents as this would be collusion /a cartel?
At the end of the day you still have to negotiate with RM to secure your contract even if you knew what others paid….
What if an agents current RM contract price information was shared solely to a 3rd party (non agent) who compared similar businesses types eg 1 office sales only/1 office sales & lettings/ etc …..If the information was shared independently (without disclosure to other local agents) to the 3rd party and the 3rd party came up with national/regional figures.
Would this still be collusion?
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So Rightmove can charge prices for its data which reflect the value of that data to your business.
And vice versa?
If not, why not?
Could this have anything to do with an apparent do as we say ‘Dominant Market Position’?
Remember that the data you provide is the draw to provide the data that they sell?
Is that a 50/50% deal or is listing data much more important?
It most certainly does not constitute, in my opinion, 78 pence profit in every pound?
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‘So Rightmove can charge prices for its data..’
It’s agents’ data surely?
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So can I send them an invoice for my data
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MarkJ
”What I dont understand is that you cant discuss anything with other agents as this would be collusion /a cartel?”
I also struggle with the the definition or inference of “cartel”.
Our Industry should be able to discuss a supplier’s charging structure openly in the same manner that a Homeowner contemplating the sale of their home is not bound by confidentiality whereby they cannot discuss estate agents fees with other parties?
I accept that a larger agency benefits from a “discount” or a low volume single branch agency is charged based on less sales etc.
What I cannot accept is the Statutory Annual Increase from Rightmove whereby there is no detail on what the increase is based on or how it is justified, other than a simple method of increasing profit to satisfy the business/shareholders etc.
This simple method of increased Annual Profit Taking is enabled by Rightmove’s dominant position ……unless Rightmove can provide an alternative explanation.
If Crowdfunding is required to press for clear answers to legitimate questions then I will happily contribute.
I will ask this question of Rightmove…..
Dear Rightmove,
At what point do you consider it appropriate to openly address the concerns voiced openly by Our Industry.
Or is your view summed up that as the “Dominant Portal” you are simply unwilling to engage/interact with your Subscribers. Your Subscribers are simply there to pay you monthly and any legitimate concerns that they have are ignored by you.
Is Rightmove’s position that of a Dictator?
No doubt a Deafening Silence will reverberate however I will take the personal time to put my concerns in writing and see what response I receive.
Here’s hoping Rightmove’s Written Reply is not simply “ Pay Up & Shut Up! “.
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Unfortunately they won’t answer because as an industry we cannot and will not come together as one to do anything about it, and RM know this so they know they can continue to increase their charges as they see fit. We as an industry have created the monster that is RM, and by refusing to work together for the greater good all we do is continue to feed that monster and make them greedier and greedier.
There are just too many local and regional rivalries between agents that can’t and won’t be put aside for the greater good so the problem will never be resolved and RM will continue to increase their charges as they know that we, as an industry, will do absolutely sod all about it.
Sad, but unfortunately I feel a fair reflection of the situation.
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Dear Rightmove,
At what point do you consider it appropriate to openly address the concerns voiced openly by Our Industry.
HEY Come on GPL
Get this line altered, so it reads ”
At what point do you consider it appropriate to openly address the concerns voiced openly by some but not all within our industry” I mean… can’t remember the entire industry giving you permission to write on our behalf!
When did I have this conversation with you?
When did I ask you to write for me?
PS – I actually like your letter, but see how easy it is to twist a sentence and get all technically correct, yet if you knew the author you would understand the motive behind the comment. So, I get your letter would be sent to help…
My comments, if it winds the sayers who never do up…. to become doers…. then goodo! Put up, shut up, or act! But I personally think the million likes for lets stand up to Rightmove is a bit “whatever”.
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Ric….. Frozen! That’s the One! The Song…. ”Let it Go, Let it Gooooooaaa” …..”voiced openly by Our Industry ….or voiced openly by all within Our Industry …..or voiced openly by many or some or the majority/minority……” The reality “for me” is that the debate MUST continue, voices heard, experiences shared in respect of Rightmove’s charging methods between members. To “Put Up & Shut Up” is, in my view, a statement that we are to simply draw a line and move on? As Rightmove take OUR DATA and use it ……WE should share our Rightmove User/Subscriber experiences in order that we can level the seemingly unlevel/secret playing field in which Rightmove operate when it comes to charging individuals/companies – why should a Portal Service Provider NOT want to be transparent? I don’t pay more for The Sunday Times in Lochinver than someone in London? If Rightmove’s pricing structure is being arbitrarily manipulated to extract more from some Subscribers than others, then that should be exposed & if need be scrutinised or investigated to ensure fairness rather than a Dominant Supplier merely charging what they can because of their position. “Putting Up & Shutting Up” suggests that I/You/We are done here? Are we done? Do Rightmove simply roll forward and “always do what they’ve always done?”. Experience suggests Estate Agents will very often look after themselves first ….however there are Estate Agents like me who place equal importance on aspects that involve Our Industry, collectively. I and many others are NOT done with Rightmove yet, as we see many agents now actively engaging with Rightmove over their services/charging – and that in itself is proof that open debate can help activate change.
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>The High Court determined that data should be sold at its cost price plus a reasonable mark up. The Court of Appeal disagreed and said that data was worth whatever the party seeking to acquire it would pay. So Rightmove can charge prices for its data which reflect the value of that data to your business.
“So Rightmove can charge prices for its data which reflect the value of that data to your business.” That’s not a logical progression from what the Court of Appeal actually said.
They said it’s worth what somebody is prepared to pay. This could be more than the value of the data.
Surely agents are also paying so you can list your properties with Rightmove and tell your customers that their properties will be listed on Rightmove.
If I was a successful agent I’d be happy paying high prices if competitors are struggling to pay.
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cyberduck….
“If I was a successful agent I’d be happy paying high prices if competitors are struggling to pay.”
The dumbest comment I’ve read in recent posts?
So…. it’s £1000 for a Gallon of Fuel, others motorists baulk at the cost, ask why, some can’t afford to pay ….however you wearing your “I’m Dumb & Dumber!” T-shirt ……you pay £1000 a Gallon because you can???!!!!
Doh!!! Homer, move over! Cyberduck is taking your Crown!
A simply Dumb comment cyberduck!
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Interesting thought Cyberduck
Have you suggested to PB that they pay more money per listing rather than less yet?
After all, they do have access to £10s of millions of other peoples money to prop them up?
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Hi Cyberduck
I asked a question a week or so ago which you misunderstood and invited me to come back and ask again.
You run a proxy to measure new instructions for PB. Do you also measure how many go under offer, how many reduce, how many complete, how many fall through etc etc ?
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Judging by the lack of response – the ongoing lack of response, that is – ducky is clearly still “misunderstanding” your question, AQ73.
#Funny_That…
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shouldn’t that be the ”quack” of response?! 🙂
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Wow, just wow. I really thought you couldn’t get more stupid and now you prove otherwise.
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Proves there’s no such thing as a limit on stoopid, PP – there’s always someone who sets themselves a new bar to duck under…
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I stopped using RM over 4yrs ago, they are not the be all and end all of your business..
There service is rubbish unless you have multi branch or are a corporate agent.
In 8 years the only contact was 6 emails saying I had a new account manager,(s) and letters telling me the fees were going up.
I put my foot down and would now never go back and all the ones who pay there extortionate rates so RM can keep its share holders happy – I don’t understand.
I am sure most of the public would like less fees to pay instead of the amount we have to charge to pay RM fees (value for money)
Us other portals to show RM doesn’t have the strength to run your business
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Great job nomore.
I am too scared to come off. I personally feel a touch persecuted for having multi branches to be honest, so interesting how everyone has a veiw on this. I’ve always been quite confident my brand is more powerful than a portal, but it seems less so as the younger less loyal generation become my clients.
It could be argued they (RM) should charge LESS to those who put the MOST on. The larger your stock the bigger discount, sounds harsh perhaps, but you could argue that the more you put on the better the RM end users experience so you add more value to RM.
Likewise, if I had little stock, I suppose I would want help on fees, so which hat.
Good on you for coming off, would be interesting to know your stock levels, before and after coming off, but alas I suspect (and I am sorry to say) we will never get a true picture of what coming off does to your business, as I can only imagine I will be told no change, or doing better. Which if true is fabulous.
I just hope your name on here, is not a reflection of your business after coming off RM 😉
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