The briefest of statements to the Stock Market, issued this afternoon, confirms an about-face in the seemingly doomed relationship between Rightmove and OpenRent.
It simply states:
Further to the announcement on 6th August, Rightmove announces that OpenRent has entered into a new membership agreement. Our guidance for the year remains as stated at our H1 2024 results.
Only a couple of days ago it looked as if OpenRent was going to walk away from Rightmove on 1st September, leaving a big hole in the portal’s revenue and a knock to their projected profits.
Now, it seems, the love-match is on again. Maybe both sides decided they had too much to lose?
What a surprise, said nobody.
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1.5M homes in 5 yrs is about 35.5 homes per hour. Fat chance. Oh, but what’s the real Labour plan?!.. how about stealing 1.5M PRS homes by RTB! But Labour play the chess game well and will force the landlords to upgrade their property to EPC C first!
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Maybe RM thought that is could not allow a test to the ‘do they really need us’ propaganda
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Agents should establish a network with a single contract for payments with RM, similar to how corporates operate. In this setup, agents would contribute to the network, which would then handle payments to RM and serve as the primary negotiator.
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