Jump to content
House Price Crash Forum
deadman

Rightmove Not Showing Price Reductions?

Recommended Posts

It may or maybe a one-off but I doubt it.

A friend of mine had her house for sale for £189,950 in Middlesbrough. She had one viewing in around 3 months so dropped the price by 5 grand to £184,950 at the beginning of August.

Why would it still be showing as full price even now?

Don't rightmove update their site? They're bloody good at getting their figures out each month so why do the bas*ards not bother with the really important stuff?

Surely all these drops combined would start to have an effect on their over-inflated prices?

She's the ONLY person I know at this moment in time who has their house up for sale, it's not like I know 10, 20 or 30 people which makes it even stranger.

Am I asking too many questions? :P

Somebody please enlighten me.

Share this post


Link to post
Share on other sites
It may or maybe a one-off but I doubt it.

A friend of mine had her house for sale for £189,950 in Middlesbrough. She had one viewing in around 3 months so dropped the price by 5 grand to £184,950 at the beginning of August.

Why would it still be showing as full price even now?

Don't rightmove update their site? They're bloody good at getting their figures out each month so why do the bas*ards not bother with the really important stuff?

Surely all these drops combined would start to have an effect on their over-inflated prices?

She's the ONLY person I know at this moment in time who has their house up for sale, it's not like I know 10, 20 or 30 people which makes it even stranger.

Am I asking too many questions? :P

Somebody please enlighten me.

If I'm right in my understanding, Rightmove are only a publisher of this information, the responsibility to maintain the information is that of the EA. So, surprise, surprise, the EA hasn't passed on the message.

Share this post


Link to post
Share on other sites

A number of properties we have been looking at which have been on RM for over 6 months have in the last month or so been pulled and readvertised as new.

I asked one agent how long one property had been on the market for after its readvertisement and they told me days... I replied that the property was up for sale in May and we have a viewing and a offer declined.. all with the same EA... got a mumble of some words as a response followed by not too sure about that...

Oops..

Share this post


Link to post
Share on other sites
A number of properties we have been looking at which have been on RM for over 6 months have in the last month or so been pulled and readvertised as new.

I asked one agent how long one property had been on the market for after its readvertisement and they told me days... I replied that the property was up for sale in May and we have a viewing and a offer declined.. all with the same EA... got a mumble of some words as a response followed by not too sure about that...

Oops..

There's been a load like that in my town Mobey. I mean LOADS. I'm glad I'm not the only one to notice.

I think it's only a matter of time before the truth gets out.

Share this post


Link to post
Share on other sites

I have started saving a lot or properties (on RM) in certain areas that have been on the market checking them where possible only to find them disappear and then magically reappear!

I think we should all do this and phone EA's and ask questions so that they are aware that properties are no longer moving at the rate they were over a year ago despite the rubbish they spoute when you ring... "never been better" "55% increase in N.I." "they will only go higher"..

Why do they all speak the same rubbish?!!

Share this post


Link to post
Share on other sites

I wonder if house prices have been falling far more than the Vis have been leading us to believe? Surely not, they are all "professionals"* after all, aren't they?

______________

* Per the wider definition of that word, of course.

Share this post


Link to post
Share on other sites
A number of properties we have been looking at which have been on RM for over 6 months have in the last month or so been pulled and readvertised as new.

I asked one agent how long one property had been on the market for after its readvertisement and they told me days... I replied that the property was up for sale in May and we have a viewing and a offer declined.. all with the same EA... got a mumble of some words as a response followed by not too sure about that...

Oops..

Again, on this one I think this is probebly more incompentence on the part of the EA than duplicity (in the case of RM posts at least). If you think for a while about what is required behind the scenes it's actually quite complicated: a massive database containing all the various information about the properties, and then the means to make amendments to this database. I'm sure the Rightmove system is pretty good (you don't become market leaders by being utterly rubbish) but this still requires end users to be able to use it properly. In the majority of cases this means EAs, and that's where the problems start!

I've spoken to someone who works at one of RMs competitors and he told me that most EAs don't even realise you can amend the entries once you've put them up. If there are any details that need changing, they'll just dump the old record and enter a new one, hence the clock gets reset. EAs will be uploading quite a lot of records, mainly through bulk means like an XML file so it's a lot less fiddly to do this than mess about amending information. So there you have it, a mixture of laziness and incompetence. Who'd have thought it!

By the way, I mentioned in my earlier post that Rightmove don't actually own any of this information. Yet they publish a monthly report and index etc, claiming it all as their own! There must be something in the small print of the contract that the EAs sign up to.

Share this post


Link to post
Share on other sites

I have also noticed properties advertised on RM doing the rounds with all the main EA's in my area always popping up as new each time, clinging on to the same asking price and ending up with some small EA six months down the line. I am fed up with seeing the same properties advertised as just come on market in the last 24 hours when I know they have been out there forever and the developer is getting worried. :angry:

Share this post


Link to post
Share on other sites

I think it all depends on the EA. But there are people dropping their prices - I do regular RM searches, mainly to laugh at those properties that have been hanging around like a fart in a phone box for about 9 months now and have no hope in shifting at the ridiculous prices they are on for.

But Ive also noticed that a few -- who haven't been on the market as long - maybe two or three months -- that have reappeared in lower price brackets. Have seen reductions of anything between £50 and £15,000. They don't seem to announce on RM that it's a price reduction or even a 'new price' (great euphemism of our time). Ive also noticed a lot more houses round here recently on RM with more than one agent.

Share this post


Link to post
Share on other sites
They don't seem to announce on RM that it's a price reduction or even a 'new price

I think they did at one point but removed it probably due to some pressure , stand to be corrected though.

Emailed them the other day asking why they don't have reduced tags on the site , as yet , no reply , surprise surprise.

So it's a case of doing your own watchlists and keeping track , had 4 reductions in the last week in 1/2 mile radius and an increase from 7 to 17 properties on market.

D :ph34r:

Share this post


Link to post
Share on other sites
I do regular RM searches, mainly to laugh at those properties that have been hanging around like a fart in a phone box

:lol::lol:

Great phrase - someone after my own heart! This one:

http://www.rightmove.co.uk/viewdetails-844...=2&tr_t=buy

...is more like a turd that won't flush. It was on the market when I first started looking for flats in 2001! Wonder why....?

Share this post


Link to post
Share on other sites
I have started saving a lot or properties (on RM) in certain areas that have been on the market checking them where possible only to find them disappear and then magically reappear!

I think we should all do this and phone EA's and ask questions so that they are aware that properties are no longer moving at the rate they were over a year ago despite the rubbish they spoute when you ring... "never been better" "55% increase in N.I." "they will only go higher"..

Why do they all speak the same rubbish?!!

I was speaking to an EA and he said that certain parts of the market were already flat and he predicted either a fall in the coming year or at least stagnation. Some of the EA's out there are just "barrow boys". Some are open and honest and will tell you how it is.

This was the first time i have heard it from the horses mouth that they admit that HPI is over for a while.

Share this post


Link to post
Share on other sites
Ive also noticed a lot more houses round here recently on RM with more than one agent.

If i went to view a house with more than one board outside, i would think "DESPERATE". If your the person selling that house, be prepared to get battered on the negotiations. You will get some silly offers come in.

Share this post


Link to post
Share on other sites
It may or maybe a one-off but I doubt it.

A friend of mine had her house for sale for £189,950 in Middlesbrough. She had one viewing in around 3 months so dropped the price by 5 grand to £184,950 at the beginning of August.

Why would it still be showing as full price even now?

Don't rightmove update their site? They're bloody good at getting their figures out each month so why do the bas*ards not bother with the really important stuff?

Surely all these drops combined would start to have an effect on their over-inflated prices?

She's the ONLY person I know at this moment in time who has their house up for sale, it's not like I know 10, 20 or 30 people which makes it even stranger.

Am I asking too many questions? :P

Somebody please enlighten me.

Theres more than rightmove and the EAs doing things like that, i know at least one auction house who are now not showing past results because property that went through there auction in previous months are still trying to be sold now without success and some property is on the open market for sale at less than the bid raised at auction and turned down three months ago.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 356 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.