Monday, Aug 18, 2008
Estate agents club together to oust Rightmove
Bloomberg: Rightmove Declines on Prospect of Rival Free Web Site
The NAEA are starting their own free (to their members) alternative to Rightmove.
After all, every competitor on the internet is but a click away.
Posted by voiceofreason @ 11:13 PM (292 views) Add Comment
1 Comment
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1. growler said...
I think the Estate Agents are making a GRAVE mistake - there may be members of NAEA that are smart enough to know "all that glitters is not gold" but I'm afraid too many are too greedy.
What will have prevented Rightmove from BECOMING and online estate agent is the fact that the agents were paying fees for the service. With cash flowing, any move to do it will have instantly seen them pull out.
But now, when transaction levels are very low - rather than negotiate a reduced fee (probably not in the nature of an estate agent) they've opened the door to a competitor with widespread awareness to go direct. What do Rightmove have to lose? Agency fees for office-based organisations are going up - so if Rightmove came in with 1% and a national ad campaign to advise people they are there to help the public, it'd be the end of the traditional Estate Agent model.
With a nation that barely tolerates EAs who do little for a fee that is almost at the top rate of stamp duty regardless of property price.....
Er, right move Estate Agents.