Times are getting tighter according to the markets this week. Rightmove indicated that the pressure on finances caused by the sovereign debt crisis has prompted home sellers to maintain their property sales price unchanged since April. This is the first time since 2002 that prices haven’t risen in the month of May, the month in which sellers take advantage of spring, a big season for house buyers.
This means everyone including Estate agents are tightening there purse strings.
So how much do estate agents pay for their branch to access RightMove and enable UK home movers to find details of all their properties ? I was suprised to find many estate agents are posting and blogging there concern of the growing cost. One agent claims over the last 3 years RightMove have increased their price by over 40%. So around £300 to £400 per month per branch.
Competition against Rightmove needed for Estate Agents
I can’t confirm the truth of that claim, but it does raise the issue of fair competition. With the need for greater rivalry many are disappointed with the cost for a monthly account with RightMove. The difficulty seems to be down to the lack of similar portals offering the same facilities. Some have hoped that Gumtree, Prime Location or Tepilo would become popular enough to force Rightmove to change its costings.
Realistically Zoopla is most likely to have the most impact as it looks like a serious growing property portal who will stop at nothing to get Rightmoves title of UK’s number one property website.
Should RightMove have such a monopoly over estate agents?
Does the cost per branch represent good value for money?