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Yorkshire Property Services

5 Oct, 12 tweets, 2 min read

We've just seen an email exchange between a current Rightmove customer and the company.

First thoughts, other than why is it so expensive?

Why complicate a simple matter?

Why call the new package Optimiser 2020 when it's now 2021 and many will be moving to it in Jan 2022?

The Optimiser package, launched in 2015, is being 'retired' & agents moved to Optimiser 2020.

Optimiser 2015 membership is £1505.75 per month,
Optimiser 2020 membership will be £1900.00 per month.

That's a 26.2% increase!

It's not even the TOP package, you can buy extras!

So, what's been added to justify this increase?

We can see 'Access to seller targeted Sold By Me', but it seems this is a chargeable extra (doesn't use the word FREE unlike below)

You get FREE access to Opportunity Manager but only if ALL of your branches are on Optimiser 2020

'Available as part of your qualifying spend: • Seller targeted Rightmove Discover', is this FREE or not?

An option to switch to either Enhanced or Essential package is offered but no prices are given. You pay more for core membership & can buy other products.

The market has a listings crisis; how improved, or worse, this could be by January 1st, we can't predict.

There are numerous other factors impacting the market moving forward so this ludicrous price rise could not have come at a worse time.

Take it on the chin or give notice?

If anyone wants to share their pricing experiences with us, in total confidence, email us at: richard@yorkshire-properties.co.uk.

We've now had sight of a further email from Rightmove where they address the recipient's desire to downgrade their membership (different customer from the one above)

Two words: Deeply patronising.

This is what happens when the reps believe they hold all the cards.

The Essential Package cost is confirmed at £1550 + VAT per month, just above the price for the existing Optimiser package. NO products are included, everything is a paid-for optional extra.

This agent faces significant price increases for products such as Premium Listings, etc.

Premium Listings currently £21.25 + VAT will go to £50 + VAT each

Sales Featured Properties currently £125 + VAT will go to £180 + VAT each

The way the market has been this year, why have this additional expense for either your firm or your client?

The agent is informed that their Local Valuation Alert will be lost and offered to the 'waiting list'. Conveniently there is one firm waiting for their postcode to become available.

Twice in the email the writer says; '...make the right decision for you and your business.

There could not be a worse time to implement significant & unjustifiable price rises.

They sit in Rightmove Towers & survey what a great year agents have had. The 2020 Covid discounts have NOT been forgotten.

They are clueless about the changing economy & future prospects.

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Yorkshire Property Services

@YorkshireProps

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We've posted about this before but in this current high-demand, low-supply market, it might be in their best interests for agents to give this concept some thought.

Some may already have it in place, it certainly helps cash-flow when things are tight.

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The constraints presented by a low-supply market suffocate estate agency.

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Before the doors even open on a Monday morning there are significant fixed costs to be funded.

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A highly active sales market is fantastic for agents - healthy pipelines created, plenty of completion fees anticipated - BUT this needs to be continually fed by a reciprocal - or preferably higher - number of new instructions.

When the numbers coming on suddenly fall, well....

Combine this with an event that may suddenly reduce your pipeline - the end of the Stamp Duty holiday next month.

Throw in the final end point of the furlough schemes (let's see how many jobs actually remain thereafter) and you have the makings of a perfect storm.

Are current portal costs sustainable when the storm hits?

Rather than headline rates, work out the following:

1. Your aggregate portal costs per available listing p.m.

2. Your average list to completion timescale

3. Your average fee

Work out what av. % of the fee is portals.

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