Rightmove has been named as ‘probably the most outstandingly profitable business listed on the UK stock market’.
An article in Investors Chronicle says that Rightmove is “a licence to print money for very little investment”.
Interestingly, the article does not mention arch competitor Zoopla, but does reference OnTheMarket.
The piece is about identifying various companies that have capacity for growth.
Its table includes businesses such as Fevertree Drinks and Unilever.
The piece looks specifically at Return on Capital Employed (ROCE) – trading profits as a percentage of the money invested in the business.
Rightmove’s ROCE is stratospherically ahead of the other companies looked at, with an ROCE of 1,387.9.
Its nearest rival is Bioventix, with 64.8.
Small wonder that Rightmove – due to announce results this Friday – is such an extraordinary draw for investors.
Below, an excerpt from the Investors Chronicle assessment:
https://www.investorschronicle.co.uk/comment/2019/02/20/quality-without-growth-is-a-bad-mix/
They have an unfair grip on our industry. If these figures do not prove it I don’t know what does.
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Rightmove :1 every estate agent in the land : 0 . Rightmoves goal came from an own goal called onthemarket.
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Who really takes the credit for this?
Rightmove or Companies who “insist” on continuing to pay them through the nose?
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Pride goes before destruction, and a haughty spirit before a fall.
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You could repeat that comment on the emoov story.
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Yes but they have been doing the same for years. Be interesting if bricks goes pop. They are paying the fees of all the agents closing due to bricks pay any way practices… sponsored by rightmove.
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Leads through Rightmove are rapidly declining for agents and I think that their ‘conning’ grip on the market is pretty much over.
As an estate agency, we’ll choose our time, but we’ll be leaving them during 2019.
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Do it now.
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Just what we need to read as we face our annual slap in the face, this time with a 15% hike for the privilege.
We can only blame ourselves for succumbing to fear, and not acting in a coordinated way to make RM realise they need us more than we need them.
As business owners, small or large, would we let any other supplier do this?
Leaving RM must be seen as a positive move for cash flow, and restoring marketing choices for our clients. This should be sold to them as such along with the alternatives, as the stratospheric rates now threaten jobs and smaller branches
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Rightmove has very successfully mainlined the public and agents with a highly addictive belief that it is a fundamental requirement in order to sell property. It isn’t and never has been but, like other class 1 drugs, it’s known to be killing off (not helping) agents businesses, affecting many agents mental well-being and forcing many to adopt illogical actions to raise money to feed their dependency.
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And anyone who has been in agency for less then 10 years is like a drug addicts baby. They dont know anything else and seem to agree that it is part our industry.
If i wasnt selling so many houses i woudnt use them but the drug is an easy drug. i am thinking of ditching our office though, so if that goes wrong, it is rightmoves fault and another customer they will have lost.
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Obscene doesn’t cover it. When something is too good to be true, it usually is. Whatcha this space.
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The trouble is that this has been going on for years. Look at this share price chart for Rightmove over their entire span. Wake up agents, you hold the key… https://plc.rightmove.co.uk/investors/share-price-information/share-price-chart.aspx
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I hate to say this but until and unless the corporate agents drop RM nothing will alter RM’s pricing policy.
Naturally one would expect the corporate agents to be paying much much less than independents which is more of a worry in my view.
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Once enough independents give notice RM will act. Our subs will decrease whilst the corporates stay the same. There are more independents than corporates and never been a better time for independents to work together.
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I hate to bust their balls, but my research points towards Rightmove losing steam, potentially losing member numbers and more importantly, should lose its ability to increase ARPA as customers are getting angry at weak lead generation and high product pricing. All of this against price increases and OTM gathering pace… Feel free to look at the survey I have done, Very interesting results that you get to read once completed.
https://www.surveymonkey.co.uk/r/SQT9YJP
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…..and again I ask who are you “apples”?
Forgive me if you have declared elsewhere who you are, and if you haven’t then speak up.
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Can you post the results of the survey so far on here?
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Just over 10% of Survey respondents left Rightmove in the last 6 months. Just under 6% of Survey respondents left Rightmove between 2017 & 2018…. so the survey says
Here is a Survey topic….
How many of us have sighted/reported a UFO ….I’ll go 1st! …….Me.
To be fair, surveys have to be credible and mine is, because I was a Police Officer then and I radioed/reported it whilst I watched it in the sky ……and as they checked the civilian/military radars they reported no trace on radar ……that was whilst myself and my colleague sat and looked at it hovering in the sky!
A true story, on a Monday, and I don’t drink nor take unusual substances.
Perhaps that’s why I’ve been an Estate Agent for over 30 Years …..they took me away, did experiments on me, then returned me an Estate Agent.
It’s the best True Story I have my fellow Aliens.
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Rightmove are a business and need to return profits to their shareholders.
If you as an agents are still feeding the hand which bites you, then no need to moan. Keep bending over and keep getting shafted!!!
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Rightmove can already see the number of “departing” subscribers and they know this will continue/increase.
Their “2019 Price Hike”, which on the face of it goes entirely against where Our Industry sits at present, is a declaration that “the departing income will be paid by the remaining subscribers” ……Rightmove know they will have less subscribers so “Less will pay More”.
What disgusts me most is the sheer lack of engagement, manners, service, professional response from Rightmove in return for circa £1000 per month?
However, on top of that, the leads are falling as is the quality …..and both subscribers and the consumer are tired of the “tired/same old” Rightmove ….it’s become a drive-thru for property ads where properties are lost in sea of poorly presented listings that are now so detached from the vendors, and present mixed messages to buyers that detract from the actual property being viewed.
Rightmove’s energy and focus is simply to try and make itself appear relevant and justify what it charges its subscribers.
Thing is ……Rightmove has lost the “dressing room”.
Unless Rightmove changes how it treats its Subscribers, and how it actually performs as a portal, 2019 will be my departure year, along with many others.
Every 100 Single Branch Subscribers departing Rightmove will be circa £1,000,000 less income per year, and the larger firms who negotiated lesser deals and think they are safe? …..they will gradually see their costs rise to replace that lost income – Guaranteed!
…….and we know Rightmove won’t change, they will keep taking until the well goes dry!
It’s hard to think of a company that is more despised than Rightmove …..when I spoke at length with a former Rightmove employee what struck me most was the resentment that they received from their clients/Subscribers.
The fact that Rightmove doesn’t care about what its paying subscribers think about it? ……hindsight is free.
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>Unless Rightmove changes how it treats its Subscribers, and how it actually performs as a portal, 2019 will be my departure year, along with many others.
GPL, you’ve been leaving a long time now.
From 2014 “Well, my plan of action, for the Rightmove employees reading this, is to contact my fellow agents/competitors within my geographical area and work towards collectively withdrawing from RM at the same time.”
Also from 2014. A comment from PeeBee:
“GPL… you now refer to RM as WRONGmove. Okay – I’m fine with that – if you consider the site to being of no benefit whatsoever to you or your paying customers who are, at the end of the day, financing the site – yet you are still “a Member”. What gives? Why continue to use your clients monies to part-fund the site if it is, as you state, a WRONG move?”
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It’s a fair question cyberduck….
For me, it suited/and made sense to have Rightmove as it did my Local Newspapers.
I stuck with Newspapers after others said they were dead ….. because I still extracted value, then Trinity Mirror lost their way with Property Advertising and I tried unsuccessfully to engage them ……and then it lost its value to me and I lost interest. I had easily spent over £250,000 over a decade, more prior to that period …..because it delivered a real/discernible value for my clients, albeit at an excessive cost in previous years.
……and so, Rightmove step into the Spotlight and it delivers a digital alternative and acceptable value.
Fast forward with Rightmove and it is mirroring the failings of those that went before it, under its digital guise. However, it doesn’t lose sight of its Shareholders ……remember the Newspaper Industry?
So …..here we are in 2019, I have gradually evolved my business where I can actually see that Rightmove doesn’t deliver what it perpetuates …..so, I approached Rightmove to chat re alternatives, however they gave me the single digit answer! …..their arrogance was matched only by Trinity Newspapers neglect of Printed Property Advertising (although, printed media as we knew it for Our Industry would have eventually extinguished itself for a number of reasons).
At the end of the day I am responsible for running my business and delivering outstanding results for my clients, which I do.
Having tried to engage with Rightmove I was simply ignored. They are bigger than me …..however when it comes to delivering outstanding results for my clients? I am bigger than them, they DON’T Sell Properties, I & my colleagues do that.
So, unless Rightmove change, which they won’t, I cannot see any business reason to be with them, I and others need to rid myself/ourselves of “the perception that Rightmove delivers something that I need? …and that perception is the blood pumping within Rightmove’s vains, keeping it alive”.
2019? A year of change cyberduck …..thankfully I run my business, not you, so my clients best interests are the blood that pumps within my viens.
As The Proclaimers might have sung
“Lochaber no moreSutherland no moreLewis no moreSkye no more”
…….and if Rightmove continues ignoring its paying Subscribers ……we can add
“Rightmove No More”
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Do it today.
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cyberduck, GPL talks a RM game, but that’s as far as it goes. Hot air, that’s all.
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I’ll leave you Lovebirds to snuggle up then 1TB.
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Is this a wind up?
We all know RM are taking liberties.
I had a conversation with account manager about leaving. He didn’t say anything to prevent me from doing so.
Arrogance in the extreme, but can see why!!
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History repeats itself, there was a time when Foden and Burrell dominated their industry; if you didn’t have a Foden or a Burrell you were disadvantaged to your competitors. Those with threshing machines were at a disadvantage to those with combined harvesters, those who had double entry client ledgers were disadvantaged to to those with CFP APM then winMan.
Rightmove is a steam engine, a threshing machine, a double entry ledger and team of bookers, it is the system everyone is comfortable with, what they’re used to. It is a Windows 98 generation system that helps estate agents get on the internet and puts a lot of, but not all, properties For Sale and To Let in a list on the internet and shows them to a lot of people who are and are not moving home……. Yay!?
The internet has moved on; it isn’t a hard thing to do, it isn’t expensive, it isn’t a mystery any more. Google has indexed the internet for everyone’s benefit. Property isn’t about putting homes on portals it is about putting them on the internet in a way everyone can find everything.
Things have moved on, the innovators get that as they always do. The innovators are buying little grey fergies while others are saving up for a traction engines.
Property is becoming intimate again!
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Indeed Robert.
Once there was Hoover, now it’s Dyson.
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Once there was IMB, now its two blokes who started off in a garage.
Once it was AOL now its two blokes who started off in a garage
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>Google has indexed the internet for everyone’s benefit.
Not all of it.
If a site has little authority the Google spider won’t visit many of the pages. You will encounter this problem as you add more customers.
rummage4property.co.uk has 26 pages indexed according to Google.
rightmove.co.uk 6,150,000
And let’s face it nobody uses Google to search for property or even Estate Agents. “smile please” has indicated his ppc spend is a couple of pounds.
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Did you stop reading before you got to the last line Mr Lawson? If I want to send you a photograph of the Hayter lawn mower I have to sell I don’t need to put it on Facebook, Pinterest or Instagram I can share it directly with you. I no longer have to advertise it on Ebay, I can list it on Gumtree and you’ll look there because it isn’t on Ebay. I don’t have to bother with ebay feedback I don’t have to bother with ebay at all Agency is about small data, it is about winning instructions, it is no longer about PPC, SEO or estate agents in. It isn’t about Rightmove, Zoopla, Primelocation or On the market any more.
You still haven’t worked out what I have done. Rightmove and Zoopla dominate certain searches, dominating over 7.44 billion results, that is truely amazing, a credit to them, hoorah! They do not have a single listing of their own, both are wholly reliant on the agents who wander into living rooms and with 95% of all instructions.
I am not helping agents sell property Mr Lawson I am helping them win instructions. No-one else is doing that and no-one else is doing what I am doing; I’m putting agents first ( For clarity- not at the top of Google 1st)
You can be as critical, rude and disparaging as you like, you can attempt to discredit what you think I am doing at every opportunity but all I am doing is helping agents win instructions and control their costs.
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John – this obsession is eating away at you from the inside out. If you’re not careful you’ll end up even more of a shell of a human being. What you need is a distraction, some sort of well-being/mindfulness class you can attend, hey, you may even get a discount as a retiree. Move on please.
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Takes me back to the days when Yellow Pages adopted the same arrogant approach along with splitting up your area to make you take out more advertising….where are they now?…….probably some readers have never heard of them.
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Good morning Robert.
We noticed that our new 3d Google Street View style tours don’t show on the Rightmove app. Why? Because they haven’t got round to adding the Virtual Tour tab to their app. What do they spend all the Membership fees on??????????????????????????????????????????????????????????????? Clearly not staying up-to-date on the world.
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Theirs is a windows 98 generation system that cannot be easily re-written. Their greatest problem is the profits they’re making; no changes that could affect profits will even be considered.
I am very open, both Rightmove and Zoopla are welcome to copy my innovation, what they can’t copy is the cost. Not because they can’t do what I do for the price (or even cheaper) but because their shareholders like the profit they’re making.
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Have you tried finding a micro-site on the mobile app or a link to a brochure?
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Agents – you created this monster, its fate is entirely in your hands!
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Has anyone actually left Rightmove and reported back the findings? Maybe they are worth it – maybe they’re not….. Lot’s of complaining but not much action. It’s understandable – it’s often an extremely hard thing to leave an abusive relationship – but would you return to one having left?
It’s actually quite easy to get leads on the internet for yourself….
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I have (as have others) and my results to date have been reported in previous posts.
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Nice one Chris – what would your advice be to an agent who is nervous about taking the plunge?
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Trial it, if it doesn’t work out for you, go back. You’ll never know until you try.
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Everyone must do what they feel is right for them, their market and their clients. I ran a like for like comparison with RM and OTM over a three month period with OTM coming out top for buyer leads and equal to slightly better for property viewer numbers. No brainer. Business unaffected (including shutting my office).
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We are still on Rightmove, Although have been holding listings back from all portals for a period of weeks from initial instruction, and only marketing on our own website in early stages. 50% of our sales since trialling and monitoring this last September never went onto Rightmove which proves we don’t need them. Like many others on here, the only reason we are still subscribed to Rightmove is the fear of the competition using ‘no Rightmove membership’ against us to our clients otherwise. Rightmove know this which is why they are so arrogant in the belief they have us all over a barrel.
So far this year, Rightmove have refrained from increasing our fees (I’ve told them we are contemplating leaving!!) and our next review is in July. Part of me wishes I had the balls to cancel our membership when first considered last September, I would have saved our business a fair chunk of money through the quiet seasonal months. If our fees increase at any point this year, then Rightmove are history as far we’re concerned.
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We left Rightmove 3 months ago and the effect has been totally unnoticeable. TBH we’ve conditioned ourselves to be dependent on it as a website but there is alternatives and they are far cheaper. Since we left two more agents in the same street are in the process of doing the same (maybe more that we are not aware of). Buyers aren’t interested in internal politics and they will; seek the products they want. If a majority of agents pull away and go to zoopla or OTM then the tenants or purchasers will follow. Somebody posted above “our fate is in our hands” and those words ring true – so be bold or continue to be shafted it really is that simple.
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Great – this is what it is about – if you’re not happy about something and want it to change…Be the change you want.
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We left almost a year ago and are enjoying the saving of just over £15,000 for a single office. Spoke with competitor recently who is paying over £35k for 2 offices and has had enough. With office closures from the likes of LSL to the demise of Emoov, Rightmove are already scrambling to make up lost income and guess where that’s coming from.
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Not me that’s for sure!
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If you really think Rightmove aren’t worth it than surely you should just leave?
Big corporations always get hate because they make good profit, it doesn’t mean they don’t work – it is purely you don’t like paying? It is the same as any industry, there is always a big player and that won’t change. The price actually in comparison to most industries isn’t exorbitant, it is just everyone has a different perception on what is expensive and what isn’t.
Pick a marketing stream, portal or campaign and use it wisely. My experience is companies invest in lots of different avenues but don’t manage it effectively because they lack time or resource. Pick one and run with it.
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Not an estate agent.
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Like everyone else, I do feel like the pricing and the way they go about their increases leave something to be desired – however, do they represent value for money? I am a single office independent and in the last 12 months have had 3,701 leads from RM – 2,776 telephone leads and 925 email leads. This year so far I have had 501 leads – 361 telephone leads and 140 email leads. I struggle to think of another resource available which might give me anywhere near that level of leads. As an original OTM Gold member I feel my leg has been lifted to a far higher degree by Mr Springett and co.
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Are you happy to break it down further? How many viewings did you get as a result? How many sales, How many instructions?
Did all that you receive come from portal grazing or was any of it a failure of your primary branding and marketing where the applicants found Rightmove a shortcut to your contact details?
Hits, page view, leads, are meaningless statistics until they are put in the context of cash earned against cash spent.
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Too much credit being given to RM leads and OTM leads for that matter.
Genuinely had another example today where we had a lady in the office speaking to staff. She came in to find out details of a property she had driven past, as she said “I couldn’t find it on RM, as no idea what price to look at” IF this person had found the property on RM she may well have called us via RM and another RM Lead which was not a RM lead… it was our For Sale Sign which lead the lady to RM first and our office second (She still found her way to our door!)
We are monitoring this and finding more and more that Rightmove is not the place people have seen or heard about the property for the first time, but is the place people are turning to in order to find out more.
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Think about it – every ‘offline’ lead is more than likely to come back to you via rightmove or another portal, it’s just the way the general public have been conditioned. When you share a property on twitter, facebook or instagram, chances are you use the portal link because it’s so easy (just click on the twitter/facebook icon and voila!). The response goes direct to the portal and they get the credit. Your story here is a perfect example of why RM is NOT the holy grail many perceive it as.
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I have been monitoring all our leads and sales for over 2 years. The majority of our sales are to people that are local to our offices. Any extra from outside our areas, come from a variety of sources, mainly Zoopla, the local Property magazine and a small amount of questionable quality from Rightmove.Not enough from them to justify the exorbitant fees they charge, let alone the 20% hike in subs they have hit me with. We should all pause for a moment, believe in our own skills and quantify the value that Rightmove actually deliver, after all, our buyers will find a property, regardless of whichever portal it’s on.
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