Your Right Move » Estate Agents

Rightmove could be knocked off top spot by Zoopla

Zanet — Sat, 04 Feb 2012 12:10:45 +0000

Its been on Zoopla’s mind for a long time, but Zoopla wont stop until its number one amongst the property search portals.

The merge of Zoopla, Primelocation.com and FindaProperty.com

It seems they have announced the largest step forward yet by merging all the other big names to take on Right Move. Zoopla Ltd and Digital Property Group, a subsidiary of A&N Media Ltd which operates property websites Primelocation.com and FindaProperty.com, have announced plans to merge.

This has been seen as an excelent move as it will provide the first serious challenge to compete against Rightmove since the internet provided property searches as a useful way of searching. Opinion is a merger such as the one announced is set to be a big win for estate agents and housebuilders across the UK, creating a clear alternative in a market that has had a single dominant player for a number of years.

Rightmove could be knocked off top spot by Zoopla

The combined business will be in a position to offer a superior value proposition and wider exposure and is expected to result in an audience to rival Rightmove, delivering at least as many enquiries to its members.

And for consumers either searching for property to buy or rent or doing market research, the combination will deliver a number of benefits including significantly greater coverage of property listings and enhanced features to help empower them with the resources that they need to make better-informed decisions in the UK residential property market.

Zoopla has become even stonger as they have put a huge budget into advertising in 2012. With London cabbies going purple and TV adverts like Kerching, Zoopla are insistent on moving to the top spot

Rightmove could be knocked off top spot by Zoopla - Zoopla’s Alex Chesterman gives his view:

“This deal will be transformational for both businesses allowing us to compete effectively in a market where it takes significant investment to challenge the current market leader. But more importantly, the deal will deliver real value for UK estate agents and developers and we will be in a position to provide them with the widest possible exposure and be their most cost-efficient marketing partner.”

So what do you think, can Zoopla with the merger of Primelocation.com and FindaProperty.com really prove to be an even alternative to Right Move?

Estate Agent with Rightmove – 7 Reasons To Use One

Zanet — Wed, 01 Feb 2012 10:45:00 +0000

Not everyone is a fan of Estate agents. For many years we’ve wondered whether online property portals like Tepilo from Sarah Beeny would start the disappearance of Estate agents. Basically the question do you need an Estate agent with Rightmove Zoopla and Tepilo adverts has been asked many a time.

So do you really save money by using an online estate agent? Some would prefer the security of using an Estate Agent they can see even though it may cost a few thousand pounds. Often because of the fear of the unknown. All though we are talking about saving money, if an online agent doesn’t sell the property then you have nothing to save as they didn’t sell it in the first place! Now that’s a false economy.

Today we present 7 reasons you need an estate agent with Rightmove, Zoopla or any other online presents

The fact that an online agent have already been paid almost deflates any motivation to see the property. As opposed to an Estate agent who is running at a loss until he gets a sale. I say a loss as he has already committed to an advert, and details to print, local property paper and so on. Will an online estate agent sell a property as well as a High Street estate agent. Where is the motivation to sell and achieve results once you’ve had your payment? Small estate agents rather than a corporate ones are more likely to put every ounce of their energy into finding you a buyer quickly as they have far more at stake.
Local knowledge on property sales. Although Zoopla has some amazing property index and historical data, it has no human element and is often a long way of a realist price. I’m sure this will improve over time. A good estate agent will add value to the sale price. This is one of the reasons many still use high street Estate Agent.
Some buyers don’t really want to meet the vendors face to face. The Estate agent acting as an in between can help keep emotions in place. Homeowners can be very defensive about their homes even though they are selling them. So Estate agents can negotiate a happy medium to keep both buyer and seller at peace.

Are Estate Agents needed?

Estate Agents can use there experience to reassure potential buyers about the issues that a survey might bring up. Also ct to any observations made at viewing stage. A vendor would not carry as much weight in the eyes of a buyer and they might be suspicious of any advice and information supplied.
The high street Estate Agent will have a network of contacts in the area and is better placed to know who is around looking for a property like yours. There are still many buyers that don’t use the online searches and will just register with Estate Agents in the area of interest. Clearly in more affluent markets buyers potentially would have registered with an agent they built a good relationship with and buy through them eventually. So the combination of Estate Agent with Rightmove should cover all basis.
Building trust with a client and establishing and maintaining integrity is essential. Many buyers still like to see the face of the Estate Agent they’re dealing with. The Agent has a duty of care to both vendor and buyer so many buyers prefer to work with certain agents they know and trust.
A duel business exist with many Estate Agents that isn’t so intuitive with an online agent. The point is Estate Agents that have both Lettings and Sales can often refer people from one side of the business to the other. If an Agent has a database of tenants it is highly likely they have a pool of potential buyers as well.

So having seen the value of Estate Agents we have to conclude that they still have a part to play.

Most online agents don’t cost very much (Tepilo is free!) then why not try both? Why not have an Estate Agent with Rightmove. No need to flood the market with your property which can be off-putting to potential buyers but a balance of both might be the best way to go. Certainly the combination of Estate Agent with Rightmove covers all basis.

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UK house prices

Zanet — Tue, 03 Jan 2012 10:53:09 +0000

Will Uk house prices fall or rise in the coming year ? What will the 2012 house market bring ?
We take a look at what the experts are saying and look to see whether the housing gloom is about to lift.

While the average house prices in the UK will have actually risen by 1.3pc by the end of 2011, with inflation currently at 5pc, property values are falling in real terms.

Rightmove expect UK House Prices to drop

Predictions for 2012 UK house prices

The Telegraph predicts 2012 will not see a revivial. They report “Inflation and the eurozone debt crisis will have a negative effect on house prices next year.”

This is Money’s property expert Simon Lambert speaks of Estate agents claiming of a stand-off between sellers and buyers. The sellers reluctant to cut prices and the buyers unwilling to pay over the odds. Home sellers must either have a desirable property to sell in an in-demand area or be willing to lower their expectations, if they want to get a sold sign up outside their house.

Rightmove report UK House prices will show uncertainty. 2012 will be just as challenging as they’ve been in 2011. Asking prices are expected to rise by a mere 2%. Inflation-adjusted house prices will continue to fall in 2012, or at best stand still.

Your Mortgage Decisions predict great variances in house price movement across the UK. With the south and in particular London and the home counties faring considerably better than northern England, Wales and Scotland. It would not surprise me to see some gains as significant as 5% to 10% within a commutable distance to London, as has been the case this year for pockets of desirable housing served well by schools, transport links and good community facilities such as leisure and retail. Other areas are likely to see a more benign outlook with a neutral to 5 to 10% decline in the areas of highest unemployment.

Capital Economics expect prices to decline by 5% in both 2012 and 2013.
UK House prices often follow the USA trend the following year. so while the UK doesnt have any exciting changes, The United States are predicting a better change. Newspapers in New York predict a positive outlook. Wall Street expect the U.S. economy to keep growing, albeit at a sluggish 2% annual rate but fast enough to avoid a recession. In the CFA’s survey, only 12% of respondents said they expect the U.S. economy to contract in 2012.

Rightmove improves property listings

Zanet — Mon, 02 Jan 2012 17:46:46 +0000

Rightmove is already the UK’s largetst property listings website, but now things have become even better for the huge listing site.

A recent survey revealed that potential property buyers complained that often the properties viewed in the search results were often out of date. So a team of developers have now improved the quality of the results.

Rightmove now provides an improved property listing

Rightmove claim this new update will improve the data quality and involves the removal of out-dated sales and lettings properties using a range of new filters and detection controls. The data quality programme has been introduced following consultation with estate agents. The aim was to establish what would represent a fair period of time for certain properties to be left on the site.

Quality and accurate property listings

Rightmove comments regarding the property listings : “The data quality measures we have introduced emphasise Rightmove’s commitment to maintaining an accurate property search facility for home-hunters and a fair and highly effective advertising environment for our member agents.Given the frustration that inaccurate or misleading advertising causes for home-hunters, we felt it right to introduce measures which restrict the amount of stock left on the site when it’s no longer available. This activity is equally frustrating for the majority of Rightmove member agents who keep their advertised properties in order and up-to-date.”

Rightmove started the data quality programme in January with the removal of over 50,000 ‘for sale’ properties, which had been cross-referenced with the Land Registry to reveal they had already been sold. So its been quite a clean up on the listings.

The data quality measures were widened this week to target properties indicated as being unavailable for excessively long periods of time such as resale properties listed as ‘Sold Subject to Contract’ and lettings properties listed as ‘Let Agreed’. Over 80,000 properties will be removed under this new measure.

All Rightmove member agents have since been kept informed of each new data quality measures. The feedback so far has been overwhelmingly positive.

Update: It’s worth noting that this was a change in the property listings which is hidden data, not the actual presentation of the listings themselves, so little differences will be seen.

How to sell your house on Rightmove

Zanet — Sun, 25 Dec 2011 12:46:59 +0000

Selling your house on the Rightmove web site is certainly a great way to be seen and find many more potential purchasers. But how do you get on there? Most good estate agents are experts in selling properties and will know that a web prescence is essential for capturing the market of people moving into the area. So the next question follows: how do you choose a reliable Estate agent in the UK market with a good Rightmove presence?

You won't see a RightMove estate agents in your road

As 25% of buyers found their property on the Rightmove web site, it is a priority to make sure your agent can advertise your home on Right move. You may find it is worth paying more to choose a proactive agent who will
ultimately achieve a better price for your property.

Before you commit yourself to one agent, take narrow down your estate agent list to approximately three finalists who you want to invite to do a valuation. Make sure you ask them how they will invest in marketing on behalf of the vendor and should, at the very least, take photos of your property. Also ask how long it takes to go live on Rightmove as it could take up to a week and yet shouldn’t take longer than a day or two after approval.

Rightmove enhanced advertising options

You may want to speak to your chosen agents about the Rightmove enhanced advertising options, Showcase and Premium Display to help sell your home even faster. You may need to negotiate with each agent to get the best commission rate though the lowest rate doesn’t always mean the best service.

Check out the estate agents profile describing their business. Does your estate agent belong to Ombudsman for Estate Agents or the National Association of Estate Agents. Royal Institution of Chartered Surveyors is also acceptable.

Don’t forget if the estate agents don’t impress you, it’s unlikely they’ll impress your Right move.co.uk visitors.

10 Downing Street For Sale

Zanet — Sun, 25 Dec 2011 12:16:42 +0000

10 Downing Street isn’t for sale, but if it was…

With Right Move, Tepilo, Zoopla, Up my street or Find a property, we are a nosey bunch in the UK. If we aren’t buying property, we love to know what Mrs Jones paid for hers down the road. Or what the neighbours house looks like on an estate agents site. 10 Downing Street, colloquially known in the United Kingdom as “Number 10″, is the headquarters of Her Majesty’s Government and the official residence and office of the First Lord of the Treasury, an office now invariably held by the Prime Minister.

Just imagine if 10 Downing Street was for sale

So what if 10 Downing Street was for sale? well we know its not that simple if you want to move into that address and it certainly isn’t based on price alone. Though imagine for a moment if it was a simple as an asking price…

Zoopla recently valued the residential portion of 10 Downing Street, worked out under which PM value was lost and gained, calculated the stamp duty payable in April 2011 (at 5%, that’s £225K) if it was for sale on the open market, and identified and worked out the value of other 10 Downing Streets around the UK.

Here are their reported results for 10 Downing Street:

Gordon Brown currently worth a £4,574,831
Tony Blair when he left was worth £5,037,251
John Major £1,644,558
Margaret Thatcher £1,804,952

Zoopla also reports that property prices have risen since the last election in 2005 in each of the party leaders’ constituencies

by over 12% in David Cameron’s;
by just over 5% in Nick Clegg’s
by almost 19% in Gordon Brown’s

So there you have it, thanks to Zoopla we now know it’s not been the best property boom in recent times, which of course we knew already.

How to advertise on Rightmove

Zanet — Thu, 22 Dec 2011 23:15:53 +0000

Is it possible to advertise on Rightmove for free ?

Many seeking to sell their homes online, want to advertise on Rightmove. Rightmove is the biggest property websites in the UK. Understandable as more than 90% of all UK estate agents list on Rightmove.

It appears that sadly individuals selling their homes directly cannot list their property on Rightmove without an estate agent.

Should it be free to advertise on Rightmove

This is due to Rightmove’s advertising policy. All properties advertised on their site should comply with the “Property Misdescription Act of 1991″. This Act was designed to protect the public from estate agents that stretched the truth about a property. It was devised to provide protection to the general public making it illegal to make false or misleading statements.

So are there any other ways that an estate agent can offer access through there registration with Rightmove? Any way to supervise the statements made and thereby approve the submissions for a minimal cost?

It’s worth noting there used to be a few estate agents that did comply with the act. For a small fee they enabled you to advertise on Rightmove.

Good news!.

Well I thought so, until I contacted The Little House Company online estate agency
In the past, they were are able to list your property on Rightmove for a small fee, until Rightmove decided to block the idea.

I decided to contact The Little House Company to find out what had changed since they couldn’t now directly advertise on Rightmove.

Nick Marr founder of The Little House Company told us, “We offer an online estate agents service that does not include listing on Rightmove anymore. We were working with a number of agents but Rightmove sent us a legal notice asking us to stop. They felt we were amounting to reselling their service. We now simply recommend or refer our clients to this panel if they want a Rightmove listing”.

Nick continues, “We offer a full online agents service apart from Rightmove. Despite us being registered estate agency in the eyes of the law and the fact we produce compliant listings Rightmove are uncomfortable with us on their website as we promote private sales. They receive complaints from estate agents and we will never be on that website whilst we offer consumer choice with our services”.

“One of my main competitors www.mypropertyforsale.com has given up private listings so that he can have his properties on Rightmove. If we did the same it would be yet another private sale business squeezed out of the industry”.

Will you be able to advertise on Rightmove in the future for free?

Maybe we will see things change in 2012. But currently Nick Marr told us “We contributed to an OFT report last year which concluded: The OFT’s study into home buying and selling FEB 2010 found that the housing market remains dominated by traditional estate agents with weak competition between them on price. As property prices rise during housing booms, so too do estate agents’ fees. Overall satisfaction with estate agents, however, has improved in recent years, according to research conducted as part of the study. Where there are problems with transactions, consumers generally do not think the estate agent was at fault. The OFT believes that innovation in this sector, in particular through online services, could have a dramatic impact on the cost of buying and selling a home”.

So there we have the reasons why you can’t advertise directly on Rightmove, but there does seem to be some good alternatives to consider.

We will review some of these alternatives over the coming weeks. What do you think? Should you be able to directly advertise on Rightmove web site?

End stamp duty holiday looms

Zanet — Tue, 18 Oct 2011 09:12:18 +0000

It’s noteworthy that the end of the stamp duty holiday looms for first-time buyers with just 5 months to go, sellers with homes worth £250,000 or less should acknowledge call to action

First-time buyers should be aware that the 25th October marks just five months to go until the stamp duty holiday ends. Under current arrangements, first-time buyers purchasing a property under £250,000 don’t have to pay any stamp duty. After 25th March 2012, all properties between £125,000 and £250,000 will incur a stamp duty levy of 1% of the purchase price, reports a spokesman from The Robinson Jackson Group

Stamp Duty Exemption Set to Continue

Stamp duty holiday?- £250,000 buys you a lot of property!

Estate agent Robinson Jackson says the deadline is particularly important to buyers in South East London, North Kent and the Medway as there are plenty of starter homes in this catchment: “We’re incredibly lucky that almost 900 of the properties we have for sale at the moment are priced at less than £250,000. In many instances, a budget of just £100,000 to £150,000 can buy you a good sized flat or small house. Not many London and Home Counties estate agents can say that so we’re telling first-time buyers to pick up the phone to us now as we want to help them make the most of their budget,” says Peter Jackson, co-founder of the estate agents that has 30 branches and departments in London and Kent.

Thinking of selling? Act now

And it’s not just first-time buyers who should sit up and take notice of the 25th March deadline. Sellers should also appreciate that now is the time to sell a property that would make a good starter home. Peter goes on to say: “If your home is worth £250,000 or less, now it the time to think about selling. We’re anticipating an influx of buyers looking to squeeze in a purchase before the stamp duty holiday ends but they’re going to be disappointed unless there’s more starter homeson our books. We have a ready-made audience out there looking to complete by March 2012.”

Time is of the essence

Peter Jackson says that the stamp duty holiday could bypass first-time buyers: “We are urging those wishing to take the first step onto the property ladder to start their search now. People have to factor in the time it takes to find, view and complete on a property. Once an offer has been made it’s not usual for completion to take two or three months, especially if there is an associated chain. Now is the ideal time to start looking and making serious offers.”

The stamp duty holiday was introduced to stimulate the property market but it’s not until now that mortgage lending conditions are starting to improve. Peter says that with the right guarantees and flexible approach, first-time buyers can secure a mortgage of up to 95%: “Property prices are stable, we’re still in the stamp duty holiday period and there are some better mortgage products coming to market so it’s a good time to pay us a visit and find out what’s within your budget. However, first-time buyers who fail to make offers in the next two months might find they miss the boat and will end up paying a 1% stamp duty fee. So please act now!”

Peter concludes by saying: “There’s a small window of real opportunity here for first-time buyers and sellers of starter homes worth less than £250,000.

Pick up the phone or visit us in branch to find out how we can help you before the deadline is upon us.”

The stamp duty holiday has certainly helped many – do you think it should extend into next year?

How Much is My House Worth

Zanet — Thu, 11 Aug 2011 14:39:09 +0000

If ever we find a question that fills our inbox on a regular basis, that is definitely number 1

How Much is my property worth. In many ways its a variable that has no definite answer. In fact the simple but correct answer is quite annoying.

“Your property is worth whatever someone is willing to pay for it”

Although that isnt what any person wants to hear, it is the truth of the matter, as people will only pay what its worth to them and depending on the market, it varies rapidly.

Pricing the property

I would suggest the best way to have a sensible idea of its worth on the current market is to follow these 3 steps

Invite 3 local estate agents round to provide a free estimate. They will have local knowledge and records of what the selling price is for similar properties. They may well of used some online charts and historical records to also help provide a price. In addition they can add further adjustment after seeing the quality of the the property in presentation and additonal benefits including the finish of decoration.
Look online for similar properties amongst the major property portals including RightMove, Findaproperty and Zoopla. This will give you an idea of what others are asking. Remeber asking price isnt always what it sells for, so look at what similar properties sold for.
Finaly Zoopla has a great historical database. This is used to provide a list of what they estimate the property to be worth taking into account previous selling prices of the property. While this is very helpful, it really is only a guide and it has no human element, or awareness of additional DIY made on the property.

Combine these 3 areas and you will certainly have a clear idea of what your property is liekly to sell for. Now do you chance asking for a little more and hae less viewings or do you get serious competion but releasing your property onto the market with a realistic price that will sell?

Only you can make that decision.

How Much is My House Worth

I was recently contacted regarding a property on Tepilo - Elmhurst Coppice, Muxton, Shropshire, TF2. A Detached House, 4 Bedrooms, 3 Bathrooms, 4 Receptions, Private Garden on for £375,000

Is it worth it? Well only following the above 3 step guide would anyone really know – the beauty is it allows for local knowledge, which is why estate agents will always have a job.

Add this property tool to your blog or web page

Discover your house value using our UK House Price Valuations Tool. Normally these are at a cost, but we have managed to find a free tool that will tell you the price paid for the houses in your street.

Free UK House Valuations

Simply enter a postcode, street, town, address or part-address:

The tool will open up a page from the UK Land Registry database of houses sold in England and Wales since 2000. Here you should be able to locate your home or your nearby neighbours property

You are welcome to use our calculator in your website, provided that the following code is used, without alteration. This code will produce a button like the one above.

8 Houses per Estate Agent

Zanet — Wed, 27 Jul 2011 06:54:04 +0000

According to the National Association of Estate Agents, sales agreed per branch stayed at eight for the fourth month in a row.

The NAEA report also revealed a few more interesting factors as to why confidence in the market is fragile.

Buyers are still failing to overcome the significant barriers to home ownership that the current housing market represents. This seems to be down to the continued lack of confidence in the market as property is no longer viewed as the only sound short term investment. Many potential buyers are still struggling to secure an appropriate mortgage even though the rates are still at an all time low.

President of the NAEA, Wendy Evans-Scott said ” The banks must find a balance between the loose lending of the boom and the rigidity of the current lending rules; house buyers need the Government to act in a sensible and proportionate way by encouraging the banks to offer adequate financial help to buyers.”

8 Houses per Estate Agent on average

Registered home buyers with estate agents fell to 263 in June from 275 the previous month, the Warwick, England-based association said in an e-mailed report today. The average number of properties available per agency rose to 74, the most since April 2009, from 68.

NAEA reported “Demand for property remains consistent but the barriers to buying are proving impossible to overcome for the vast majority of consumers. Our members have likened the housing market to an obstacle course, with many falling at the first hurdle as the finance required to buy just isn’t available. If they can actually get finance they are struggling to find the right property as there is not enough supply to offer the choice and then they still have to find the money to pay for Stamp Duty. ”