Rightmove has confirmed it is introducing new sales packages for agents. The packages look to be hikes for many agents on its current charges.
The cheapest, ‘essential’ package, is at £1,000 per month per branch. It comes with the message “Access the most engaged audience”.
The ‘enhanced’ is £1,450, tagged with “Grow your market share”. It comes with £1,800 worth of product, according to Rightmove.
The most expensive, at £1,750 per month, is tagged as “Lead your market”.
EYE had approached Rightmove for comment after one agent, Russell Bennett of Quirk Deakin, told us of his unhappiness at a hike in subscription taking his business from £1,218 per month to £1,700.
Rightmove last night said it was not asking any agent for a rise of £500.
It also said it would not comment on individual agents’ costs or use the phrase ‘rate card’.
But it did confirm that new prices are the ones being offered to joiners.
A spokesperson said: “We work with agents to create tailored packages that best suit their marketing objectives, and the cost depends on the exposure an agent gets on Rightmove.
“The majority of agents choose to add various types of product to their core package at a discounted rate, to help with the exposure they want to achieve for their brand and properties.
“This year we have reviewed our packages based on some agents asking for our packages to be simplified.
“There are now three packages available – Essential, Enhanced and our existing package, Optimiser. The first two will be replacing our other older packages during 2018.
“As part of Rightmove’s core membership, agents have access to insightful and practical tools such as Rightmove Intel, a lead mapping tool to identify new instruction opportunities, and free webinars from Rightmove and people within the industry.
“Where new advertising rates apply, full details are being communicated to each of these advertisers on an individual basis.”
Russell Bennett las night told us: “It’s interesting that after 15 years I am being charged the ‘new joiners’ rate card.”
In July this year, Rightmove said the average advertiser paid £911 per month. City analyst Anthony Codling said then that the holy grail was to charge £2,500 per branch per month.
Rightmove’s new advertising rates were announced yesterday as OnTheMarket sought to establish backing for its bid to demutualise and go for a stock market listing.
Last night, there was no news on yesterday’s vote – with 75% of those who did vote in favour needed to make the change.