Advice on Rightmove fees

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  • #38954

    WizKid
    Member

    We recently received another agents invoice from Rightmove in the post – an error by the local posty – but without noticing the error, the invoice was opened thinking it was for us. To my shock and horror I realised that we were being charged substantially more for our basic package with Rightmove than our local competitor. They are of a similar size with one branch and very similar stock levels albeit they have been around longer than us. They had a large number of additional marketing products by comparison to us, 5 extra in total, and yet they were paying less than us on a basic sales and letting package.

    Anyone had a similar experience? and thoughts on what, if anything, we could do about it?

    In my view, they are getting vastly more coverage on Rightmove for less pounds spent which is unfair but equally I am not one to moan and whine, I usually just work harder to level the playing field but don’t feel I have much control on this one. As a fairly new agent its a struggle to start from scratch and keep things going – don’t get me wrong we are doing well and just about to move to bigger and better premises – but do we just take it on the chin and crack on?

    What are your thoughts?

    #38965

    PeeBee
    Member

    Hmmm…

    Do you charge the same as them; less than them – or more than them – for your services?

    Next round of Contract negotiations – try your hand at getting your monthly fee down.  Start the ball rolling now – tell your local Rep you won’t be paying more next time – quite the reverse.

    By all means tell them you know that others are on better rates – but ffs DON’T tell them you opened someone else’s letter – accidental or not, you’ve committed a criminal act!

    If all else fails – you could always drop RM…

    Let us know how things pan out.

    #39023

    WizKid
    Member

    Thanks PeeBee. Rep has said its due to them being members for longer, since 2003, so their rates are frozen/protected and they have invested in brand products which has protected them further etc etc.

    I have advised that I am taking further advice and will get back to them about their response which, while probably factually correct, does nothing to address my concerns. As you say will have to put into play some shrewd negotiating tactics!

    Would love to drop them altogether but in our area vendors/landlords are very Rightmove focussed.

    Will post back once I have some more news on the outcome as may be useful to someone else in the future.

     

    #39024

    PeeBee
    Member

    “Rep has said its due to them being members for longer, since 2003, so their rates are frozen/protected and they have invested in brand products which has protected them further etc etc.”<b></b><u></u>

    That is pretty much correct – but the only way to peg down their ‘base rate’ is to buy more toys each year – which increases their overall spend.

    RM are darn good at convincing the public that the toys they produce are today’s ‘must-haves’, and therefore the upward spiral of costs for the Agent (at minimal cost to RM to supply therefore pushing their profitability margin ever-upward also) continues year-on-year… and the ability to walk away diminishes as the tail becomes ever-more dominant and wags the dog harder and faster than ever.

    #49941

    paulnewboy26
    Member

    Guys – I posted yesterday a note to ask if anyone has any feedback on using/having/paying !!! more for RM Optimiser package, more interestingly the Discover aspect, which is supposed to issue email campaigns to potential future vendors. Any advice, experience of if this works would be really appreciated as I dont really want to spend MORE with RM, but if it’s a better return than local adverts then I will. cheers in advance

    #50165

    astroestates23
    Member

    We have been with RM also since 2003 (when they first started) and was paying once £110 pcm – they were the days! We went for the optimiser package in June 17 But with a 6 month break and currently pay £1,850 plus VAT. Cant say we’ve noticed much more interest (if any) and only went with the optimiser because of vendor/landlord pressure. Big hype. Probably going to exercise the 6 month break now. We used to pay £1,100 plus VAT before optimiser. Once you go on a new package I think the fees get uplifted

    #50241

    PaulC
    Member

    Rightmove Discover

    Personally, we spend about £4k per month with RM. I am a big fan and completely see how their service benefits my business.

    We are on optimiser obviously and have been an early adopter of Discover, I think we have it on 3 postcodes (maybe 4).

    Discover is a tricky one for us but if I was anywhere else in the country I think it would be a “No Brainer

    Year to date we have sold almost exactly 25% of all homes in our City.

    This is 584 Homes to be precise.

    Since turning on Discover I can report it has generated a lot of valuation meetings.

    Now the issue is we are, and this is the whole point probably 9 times out of 10 the first agent in the door.

    And they are literally right at the first steps of thinking about coming to market, think 6 months away.

    And due to our market share, the common conversation is we would have been invited out anyway a lot of the time anyway.

    Now the onus is on us to manage that relationship for the next 6 months, that tough to do.

    So have we written a ton of business of the vals we have done, No

    Do I think we might, Maybe (We are going to try too)

    Put it this way, we are going to try it in an area we are not strong in and where we are struggling to penetrate in the new year.

    So personally I would highly recommend giving it a whirl.

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