Rightmove is one of the most successful mediums for advertising a property for sale or rent. However, private sellers and landlords are not allowed to place properties on the site.
“But why?”, we hear you scream.
The reason is quite simple – sellers would be able to offer their houses cheaper by cutting out the middleman, thereby creating a somewhat hostile and complicated relationship with estate agents.
Rightmove therefore decided a long time ago to only deal with professional sellers, and as a consequence the only way a private seller can advertise on the site is to sign up with an agency that offers this form of advertising. Agencies pay a subscription which enables them to advertise multiple properties at any given time.
Is Rightmove the market leader?
Rightmove is visited by millions of buyers and tenants every month and has dominated the UK housing market since 2000. It is an incredibly effective advertising platform, now used by many thousands of estate agents selling properties both at home and abroad.
Although not cheap by any stretch of the imagination, most would argue that its effectiveness far outweighs the overall cost. As mentioned previously, Rightmove prefers to make its money directly from estate agents rather than through individuals, and an agent will purchase a package allowing them to advertise hundreds, even thousands, of different properties throughout the year.
What is the cost to estate agents?
Rightmove works together with agencies to ensure that they purchase the correct package; there is one for new start-ups, looking to keep costs down, all the way through to the big guns.
As of July 2018 and according to the website Property Industry Eye, the cheapest package is called the ‘Essential’ and comes with the slogan, ‘“Access the most engaged audience”. This has a monthly cost of £1,000 per office and agents are able to create a more tailored package, if required, to achieve marketing objectives.
The next is the ‘Enhanced’ package at £1,450, which bears the tag, “Grow your market share”, and, according to Rightmove, it has the added bonus of £1,800 worth of product.
Lastly is the ‘Optimiser’, the most expensive, costing £1,750 per month, which comes with the slogan, “Lead your market”. The ability to tailor to individual requirements allows agents to, at a discounted rate, add different facets to their package.
Why should your house be advertised on Rightmove?
Selling privately, for anyone other than a seasoned property marketer, can be a huge headache. Mistakes can mean no sale – it’s as simple as that.
To make matters worse, once a property has been on the market for more than a few months, especially during peak selling times, it becomes an ‘old chestnut’, leaving it open to cheeky offers.
Conversely, once an owner hands over the sale of a property to a professional who advertises on Rightmove, the amount of visibility that property receives will be boosted overnight, greatly enhancing the chance of a quick sale. Other benefits of advertising your home on Rightmove include:
- Your property will be seen online by millions of people, both in the UK and worldwide
- The agent will take care of all enquiries, supplying additional photos and information
- The agent will arrange viewings (if required) and communicate directly with all parties
- The agency will negotiate the purchase price between the buyer and seller
- Your fee to an online estate agent or commission to a high street agency remains the same, regardless of the Rightmove costs
In terms of logistics, many estate agencies will use a “data feed” which will automatically upload their property listings to Rightmove. However, some smaller agencies may choose to upload individual properties manually. All potential buyer enquiries are sent directly to the estate agent who is advertising the property, allowing them to make contact quickly in order to answer questions and arrange viewings.
Will using an online agent guarantee advertising on Rightmove?
The short answer is no!
Some of the smaller online estate agents have basic packages which only include advertising on the parent site, which is far too limiting – you need your property to be seen by as many people as possible.
By selecting a package from an online agent which includes Rightmove advertising, you could potentially save a considerable amount of money compared to the commission fees of a high street agency, all whilst receiving a comparable amount of online marketing visibility. As online agencies are constantly evolving, it’s important to research thoroughly what is included in each individual package.
The internet is where it’s at
Taking into consideration that around 98% of all property searches now begin online, making sure that your home is advertised on one of the UK’s largest property portals is essential.
Rightmove attracts in excess of 130 million visits monthly and is ranked amongst the top 20 websites in the UK. Taking into account the leading four property websites, approximately 77% of visitors’ time is spent on Rightmove. Very few house hunters start their search looking in agency windows, scouring through newspapers or even visiting individual agents’ websites these days. This is why properties must be advertised on a portal that counts.
