Rightmove Overseas has responded to the increasingly difficult market conditions by introducing a new pricing structure that will see prices for some agents drop by more than 50 percent. In his first major strategic move since taking over from Justin Figgins, new head of Overseas, Rob Wilson has implemented a "more flexible" rate card that sees prices start at £75 (approximately $110) per month.
Following the changes, agents and developers will no longer be asked to sign a six-month commitment contract when joining the portal. "Long-term subscriptions work in a positive climate, but the game has changed so we’re adapting. We’ve responded by ripping out a lot of the old constraints on membership like minimum property volumes and terms," says Wilson in this week’s interview with Globaledge.
Although the changes will be welcomed by many agents, not everyone stands to benefit, and agents selling large volumes of properties in popular destinations like Cyprus or Bulgaria will still be asked to pay significant monthly fees. For example, an agent in Cyprus listing 500 properties can expect to pay as much as £1050 (approximately $1,550) per month.
Agents listing in the most popular areas will be asked to pay a 40 percent premium, whereas agents in the least popular locations will be given a 20 percent reduction. The Rightmove Overseas team have developed a price calculation engine that is used by their 10 sales staff to calculate prices based on the specific needs of the client. Discounts are also given for extended commitment and payment in advance, although agents are free to list for a one-month term on standard payment terms.
Copyright (c) 2009 Global Edge Marketing Ltd.
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