Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
Rightmove themselves state that their own research indicates that properties with a “Premium Listing” banner generate 21% more enquiries. Of course they have a vested interest because they charge Agents £10 for every listing, which is all extra profit for them.
In truth, it is impossible to test this independently because no-one can ever run the same listing in parallel as both a Standard and a Premium listing. There is undoubtedly some benefit in featuring a property, and obviously more enquiries means more viewings and the property will therefore be let more quickly.
Rightmove charge Agents £10 per listing. However most Agents will put a mark up on this and charge the landlord an additional premium for this service – in some cases, an additional £100. In fact, Rightmove “sell” premium listings to Agents as a way they can increase their profits at the Landlord’s expense! It takes an Agent no more than an extra 30 seconds to set up a Premium Listing.
So the next time an agent tries to sell you this ‘Must Have’ service, remember that they probably have their bottom line in mind as well as whether your property will let quickly!
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