The Say No To Rightmove campaign has started buying social media advertising space in a bid to recruit agents.
In a ‘promoted’ tweet on Twitter, funnelled towards those who regularly view estate agency-related subjects, SNTR says:
“Our campaign relies on your support and we’ve got our sights on the next membership milestone of 3,000 agency offices!
“There are four very simple ways you can help the #SayNoToRightmove campaign today.
“Encourage at least three other agents to sign up to saynotorightmove.co.uk
“Follow #saynotorightmove on Twitter from your personal and/or work accounts
“Connect with [campaign leader] Robert Sargent on Linkedin and join in the conversation!
“Share, like and retweet anything you can to help us spread the word.”
Earlier this week we reported that in an interview with Jefferies investment bank, SNTR leader Rob Sargent - head of the Acorn group of agencies - revealed that the campaign had some 1,450 owners on board representing 2,700 branches.
Following a cash injection from Acorn itself, the campaign has seven staff on board - four of them handling PR such as the Twitter material - plus another joining shortly.
Meanwhile a lettings agent has reportedly launched a petition calling on the government not to give funds to Rightmove, which earlier this month revealed it was eligible for substantial taxpayer assistance via the Treasury’s Covid Corporate Financing Facility.
The Negotiator reports that Kathleen McCallum, who runs Ayrshire Lettings and Sales based in West Kilbride, says: “Rightmove have overcharged small businesses for two decades … This company should be able to support itself based on what it makes, and agents no longer want it to exist because of its stranglehold on the industry … the government should do what Rightmove did to small business and say NO to helping them.”
Estate Agent Today reported Rightmove’s latest trading statement - in which its potential use of the CCFF was revealed - in this story here.
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Too bloody right they were making £180M a year off us - paying it to Shareholders DO NOT PAY THEM
This isnt going to be popular!
I say put prices up and get rid of all the uncompetive agencies that only exist because they plug into RM. Fewer agencies will mean higher earnings for those that are left.
All that happens if RM charges are reduced is a) more agencies will startup and survive b) the discount will be passed onto the consumer, as UK agencies have an inability to maintain fee levels, with constant discounting.
The industry should be thinking about increasing transactions not cutting costs.
Starting with how to unwind all those sales to buy to let landlords (who rarely sell as often as an owner occupier) that seemed a good idea at the time, would be a start.
The time for arguments against RM was 20 years ago. I can remember the small competitors to the agency I worked for not believing their luck when (as by far the most dominant agent in all our towns) we joined RM. Since then my former agencies market share is at best half of what it was and in some cases down by two thirds. Death by a thousand cuts, as predicted at the time.
If your good and want more of the pie in your town, get RM to push up prices. You will have fewer competitors and in the long run make more money.
Just. Daft. End. Of.
Rightmove CEO needs to resign.
And if they had a PR agency sack them.
Silence is deafening
surely the issue is the cost disparity - according to Rob S in interview with Chris W largest corporates pay around £500 an office and small independents around £1,500 an office for the same offering - this just doesn't seem right / fair and is arguably anti-competitive - would welcome thoughts on this
The corporates pay nowhere near as much as £500 an office.
I agree there is nothing wrong with the products that rightmove offer, only the pricing that is wrong
It's antique tech they're using. If they upgraded and came up to the present standards, the products they could offer would blow your mind.
If agents agree to back the SNTRM campaign in large numbers, such collective action will empower Rob to negotiate price reductions across all three corporate portals for everybody's benefit.
I think the objective is to ensure the corporates listen to agents from now on and reduce their excessive charges back to a level that is not self defeating.
The obvious outcome of any price reductions SNTRM can negotiate is more cash available to agents, which equals more choice how they spend it.
Such freedom of choice will enable agents to spend it how they see fit, rather than every spare penny being hoovered up by the corporates. They can choose to spend it on more corporate portal add-ons if that serves their business need, or have the funds available to look at other PropTech alternatives.
I thought RM was majority owned by Countywide and Connells predominantly. Why would they want to see reductions in RM dividend and wider access to competitors should RM reduce its price point.
Home search is going to be launched in a couple of days and its free to agents and a very good search site. Thy are typical market disruptors with free entry where a monopoly or in this case a thinly veiled cartel in the form of RM has been operating. Its going to be interesting. I am certain that RM costs to agents will fall either through falling demand (fewer agents) or competition with Home search.
Countrywide sold their RM yonks ago to vail out business and Directors made millions. Bob Scarff MD bought a brand new Bentley as offices were being shut!!!
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