Rightmove shares sailed into the record books yesterday with its share price going above £7 for the first time.
The shares closed at 701.2p, having at one point hit 708p.
Rightmove shares have been riding high this year, recently boosted by news of record traffic in January – an indication of good news for the housing market.
While everyone keeps happily feeding the beast that bites them. Then complaining that they get bitten.
Then feeding it again while it bites them.
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Left at Christmas. Plenty of buyers and tenants still coming through all the other usual channels, only lost one client over it who was not the greatest loss as somewhat unrealistic. Rightmove told us they would continue to keep raising their prices, so it will get worse for those who stay.
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Its market value is around £307,500 per advertiser. Madness.
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Come on PE, removing my last post was unfair. It did not say anything about RM that was not true.
I thought you were for the industry” ?
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Rightmove’s share price topped £7 yesterday the highest it’s ever been. They are getting supremely rich and dangerously powerful off the back of OUR stock which has been hard won by us at huge cost.
RM are financially raping us and we are lying back and letting them for fear that we can’t do without them
We have become like the fearful dog that will not take a step out of line for fear of the repercussions from its master
The reality is that they cannot do without us, because they actually would have nothing to offer the public without us
As a reward for our spend and loyalty, they have allowed non-agents, on-lne agents, and developers to sit shoulder to shoulder with us and then they slap us with outrageous price hikes year after year.
And when the government steps in to streamline (through legislation) the buying, selling, renting processes, because already RM have pretty well run out of any more agents to add to their client base , they will allow the private sellers in.
The industry has to act to protect itself
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Add in Zoopla’s & OTM’s worth and you’re easy looking at £8billion combined portal market capitalisation. All at risk when agents pull the plug.
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Sorry PE my error. I posted the article on the wrong news story !!
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CORRECT! We are feeding them more money at a time when most agents are making less. Perhaps a July the 1st “independnace day” black out of lisitngs would show them?
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RMEXIT I left in September 2019, they never supplied tenants anyway £1100 a month +vat I asked how much for sales only they said £1350 +vat I said that’s more than joint sales & letting, they replied with yep we want the stock, well that just made my mine up, they only want our stock and I have to pay for that.
since we left it’s made no difference we always got the majority of our leads from OTM .
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For fear of being like a broken record:
Today’s action plan for agents:
1. Cancel your Rightmove subscription, make the call TODAY and don’t delay another day
2. If you’re not ready to give up Rightmove membership, only subscribe to the MOST BASIC package, ditch worthless micro-sites, banners and featured properties.
3. If you’re not giving up RM membership just yet, remove all Rightmove stickers in your office, logos from stationery & web sites
4. Start the conversation with existing & potential customers that Rightmove prices are forcing the industry to have a re-think about membership and whether it provides enough value-for-money. Stress that savings from leaving RM would enable your business to expand its marketing and improve service to its clients. Back it up by confirming that 100s of branches are leaving every month, that you expect this figure to increase and that you are preparing for the day you say goodbye.
5. If you share property details on social media, use links to your OWN website NOT to Rightmove or any of the portals
6. Upload your content to your own website first. Upload to the portals (if you must) a couple or a few days later.
7. Ensure you promote YOUR website FIRST, don’t give any portal traffic
8. Stress that people register their details with YOU rather than the portals. Remind them that property does sell ‘off market’ or without the need for a portal upload.
9. Make your feelings known to Rightmove. OK, they’ll probably ignore them but you never know.
10. Finally, put the action plan together for when you finally give Rightmove the heave-ho. Remember they thrive on your fear of leaving, there is life after Rightmove. There are an increasing number of agencies on this forum that have left and report NO downside.
11. Don’t moan on industry forums like this one about Rightmove fees if you’re not prepared to carry out any of the points above.
TAKE BACK CONTROL TODAY
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