BrightsaleRightMove Stands Defiant on Agents’ Fees
In a communication to all its members last night, RightMove effectively rejected calls for it to reduce its fees or to move to a different form of charging (per property rather than per branch). The company’s argument appears to remain that estate agents should reduce their print advertising budgets instead. The other major change is a reduction in focus on overseas property – which we were aware RightMove was already struggling with. To us this looks like another clear indication that the British public’s previous rush (we might call it the Place in the Sun stampede) into overseas property is slowing abruptly.
What agents make of RightMove’s decision to tough it out on fees will be interesting to see. Many have threatened to leave the portal (as many as 75% according to a recent poll). By sending this communication RightMove appears to be calling the bluff (if it is one) of those agents, and effectively daring them to try to survive with them. We will see how many put their listings where their mouths are and leave! To quote Margaret Thatcher, RightMove is clearly ‘not for turning’.
Tags: economy, housing-market, predictions
October 22nd, 2008 at 8:02 pm
Spot on guys!
Let’s examine the cards to see if it really is a bluff. As an agent I have drawn an 8 and 9. Not great especially when Rightmove are holding a pair of Aces. The flop arrives as 4, 10, jack. Rightmove hold the stronger hand and the agent bluffs that he has three of kind whilst hoping a queen or seven falls their way on the turn. A queen falls, horray! But what about the river - a King would kill the agent. Can Rightmove get lucky with a King?
October 23rd, 2008 at 11:51 am
given that the game is being held in the Lucky Rightmove Casino my guess is on a King coming out. Of equal interest are the hands being held by propertyfinder, findaproperty and propertylive, are there a couple of jokers here?