Rightmove is set to unveil an updated version of its Best Price Guide next month and EYE yesterday had a demonstration of the new features.
We were assured that neither the actual report nor the name of the vendor is seen nor stored by Rightmove.
Rightmove says that its Best Price Guide is simply there to provide data to support an agent’s valuation of a property.
Agents can generate a report that can be sent to vendors or printed and brought to valuations.
It has been around since 2003 and can be accessed by all users but has been going through a series of improvements in testing with a range of agents in recent months.
There are several changes, such as making it easier to include floorplans in reports; and providing more granular localised data allowing agents to compare more specific asking and sold property prices and listings data.
Rightmove said there were 10m reports generated from the Best Price Guide last year and it is used by 15,000 branches – 70% of branches using the portal.
Similar to the current version, an agent would enter the details of the property they are valuing.
This would then bring up details from the last time it was listed on Rightmove, including its key features and historical sold prices.
An agent can then search for similar properties being marketed by their own brand and the wider market to include in a report.
Currently, agents can only search based on the first section of a postcode, eg TV42, and set a radius to cover, but the new version will let them select specific postcodes
The new version will automatically let an agent include a floorplan of the property they are looking to list in the report, whereas previously they had to search for it and attach it separately.
Agents can also filter results by other categories such as the number of bedrooms or the type of property.
The results are displayed on a map that can show properties sold by the agent in a defined area as well as those offered across the wider market.
If there are no results, the agent can filter their criteria on the same page rather than having to start again as they do currently.
The new version will also let agents remove certain properties from the end report.
As well as providing data on comparable properties, the new version will let agents provide figures that show how many properties are being listed versus how many are being sold subject to contract in specific price brackets by postcode.
This provides an idea of how many other properties are competing for viewings and how well they are selling.
Another new tool will let agents show how popular certain price brackets are for a defined postcode among those searching Rightmove to give an idea of an appropriate valuation.
The criteria can be edited to show different prices and postcodes.
An agent can then generate a report which will combine the comparable properties, floorplan, map and graphs showing local market performance and search popularity.
Agents will still be able to see historical asking prices for the set area.
These graphs can be edited to remove items if necessary and all the information is turned into a PDF with an agent and Rightmove’s branding to either email to a client or take to viewings.
This requires agents to enter the name of the vendor, an issue that has prompted privacy concerns among EYE readers.
Ian Chapman, head of customer platforms for Rightmove, said that the name and the actual document is not stored or seen by the portal.
The final valuation is left to the agent but the idea is that they can use these tools to support their calculations.
Chapman said: “Trust is the biggest reason a vendor chooses an agent.
“We are not trying to replace that. We are aiming to support their conversations.”
Comments (26)
Just another justification for when they put their prices up again!
There are some very cool companies getting really rich and varied data and presenting it better so well worth checking out Homesearch, Loop and Sprift to name but a few.
….what next?
……just send a graph and a printed blurb?
That bubble of air will sell your house Madam.
Fair enough, each to their own.
However, the Agents using the “Comfort Blankets” should wear L-Plates and let Homeowners know that they need Rightmove’s help to value/present themselves …just like the Online Only LPE’s.
I’ll take my New Sign to my next valuation….
WARNING – Proper Estate Agent at Work!
never used it….who cares, who needs a graph, use your own instincts and stories of your personal experiences….
We have been using a system called Homesearch for several months now, it’s a fantastic property report, crammed with extremely useful data and guidance. It is professionally presented and can be emailed to the vendor either before or after the appraisal appointment. It doesn’t cost the earth and is constantly evolving.
At the risk of being controversial; I do laugh at all this “we hate RM” stance but yet still clamber to their every move. The two main portals RM and Zoopla provide an array of tools ( YES ONES THEY DON’T CHARGE EXTRA FOR) and the choice is ours to use those tools that benefit our business. However that does mean breaking the mould a little, the Comparables Report and ( the new Property Valuation Report) on Zoopla to me I find more professional looking, easier to use and more beneficial; but then I will use the Market Trends on RM……cause that suits me.
Ewemove agent? – I can see the benefit to you for these reports, you should embrace them.
Rightmove said there were 10m reports generated from the Best Price Guide last year and it is used by 15,000 branches – 70% of branches using the portal.
So basically 15,000 present the same information as the other agents they compete with. Agents need differentiation urgently
Sounds fantastic, I look forward to not using it.
I can see this benefiting not so local property “experts” hugely.
The features are good I agree but the old format was a bit more user-friendly. If they can amalgamate the two it’ll be better.
So we give Rightmove the name, address and potentially the email address of every valuation we go out to. Ask yourself how much would you pay for that information for everybody that is thinking of selling their property in your patch, and Rightmove want us to give it them for free.
Maybe i am being cynical but I find it hard to believe that Rightmove have a chance to harvest this data and are going to let it pass and do nothing with it.
As Ric commented earlier…… “Hard Hat On”.
If any of my fellow professionals need to use this? ……then you’re not a real Estate Agent.
Nothing macho in my opinion, merely exposing the weakness of those that can’t rely on their own experience/ability/professionalism.
Frankly, I would be embarrassed to have to resort to this “comfort blanket” however if you can’t depend on your own ability, for some its easier to take the hand of a helper.
What next? Rightmove helping Estate Agents dress in the morning, packing their lunches & dropping them off at their offices?
Blimey, is nothing private anymore!
Not only peoples house info but literally how well agents are doing against their competition in their own town or village and now it makes it, so even an idiot can do our job, sorry err, newcomers via franchisees entry level.
Good to see a few startups forcing the big boys into long overdue action. A bit of competition should do wonders for the customer
Better, improved, absolute rubbish.
Same info displayed differently and takes longer to produce the report that no-one emails to their clients….the only product that was any use is not flash! great
Ian looks very happy with himself.
Do Rightmove and agents actually think the public look at or understand the graphs?
Almost as useless as the property performance reports.
You don’t think the public can understand a single line graph showing the asking price of comparable properties over the past 12 months?
This is why most of the general public hate agents.
Its not that i think they lack the intelligence.
They do not really look at it, they just skim past it and take no notice of it and even if they do if it does not fit with their expectations on price.
We currently use the Homesearch reports which are far superior to the current RM plus reports stuffed full of graphs, looks impressive but majority of sellers that receive them just skim over that part and agreed it looks impressive without really reading it.
So basically RM has stepped up its game (finally) because of the introduction of Homesearch, which essentially does most of this anyway. Demand / supply is coming, as are floor plans I understand.
Nice to see some reinvestment for agents at long last though!
How is it better?
Absolutley, Rightmove dont appear as complacent as they used to be. They have taken notice of what Homesearch and Rummage are up to.
What I don’t understand is why RM don’t enable you search via an actual Road /Street?
Hard hat on.
I remember saving every agents property page from the local paper for 15 years! some serious storage issues and black dirty fingers, to try and remind someone about the home around the corner which WAS on cheaper and did sell for less 3 or 4 months earlier.
So my opinion, love RM or hate them… the BPG is good and I quite like the new one.
PS, It is just a hunch, but I reckon without the name entry part, RM could still get to homeowners if they wanted to.
Hate to compare but compared to “List your house with us for 24 hours earlier”, I would take the BPG over “exclusive to OTM” all day long.
Dumbing down our profession.
No Thanks.
How do rightmove get past the property misdescription act when an agent relists all their property??
One agent that closed in 1 town and put all their stock on another towns they are in, rightmove account , now has 40 new listings on rightmove in the town they closed in today….
All because Rightmove don’t have a ‘listed date’ entry in their database. laaaaazy
I look forward to doing all this research so the seller can go and use purplerbicks and pay any way.
bless rightmove for having it both ways.