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A real estate agent with two offices in West Yorkshire said it was being held for ransom by Rightmove, which is raising subscription fees again this year.
Belong Yin Hongli has been told by Rightmove that it will face a significant monthly fee increase upon renewal on August 1, 2023.
James White, the company’s managing director, a longtime real estate portal customer, was told by his account manager at Rightmove this week that his subscription membership had increased by just over 17% from his current monthly cost. was taken.
Emails sent to this and other agents point to an increase in core membership costs due to the introduction of new tools and features.
Mr White explained: “With our clients facing pressure in a significantly contracted market and overall inflation from suppliers reaching around 10%, we have taken advantage of Rightmove’s standard package, the core Essentials package. Realtors are taking a hit, with annual fees up by almost 18%, bringing the basic package to £1,385 a month.
“This is clearly the final stroke from outgoing CEO Peter Brooks-Johnson as a sad farewell to the man who oversaw the debacle of Lightmove’s response to the initial lockdown of 2020.
“Rightmove’s cash cow continues to push forward with exorbitant annual increases knowing that it has a near monopoly on where the public first looks for a home for sale.”
Message from Rightmove:
Change Rightmove cost
We have released many new features and tools included in membership. They help create opportunities for Belong on an ongoing basis (by James White). Beginning August 1, 2023, we are increasing membership pricing as we continue to upgrade the features and tools we offer to our agents. In the table below, you can learn more about:
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When asked if he would agree to pay the increased amount charged by Rightmove or just cancel the subscription, White added: , and as my clients explain to me every day, if you’re not on Rightmove, your home won’t be promoted to the widest audience, and Rightmove knows it.
“Instead, we encourage you to reduce spending on existing bolt-on services or upgrade to enhanced packages and eliminate core membership fees entirely.”
Rightmove staunchly defended the price increase.
A portal spokesperson told EYE: We are committed to providing our agents with the products and tools to maximize their exposure to their brands and properties to the UK’s largest moving user, as well as to reach more contractors and landlords. I’m here.
“Agents can choose the right package and suite of tools for their business. Our account managers work with agents to ensure that the package fits the level of brand awareness they want to achieve with Rightmove. “