A common question I get asked by followers and users of My Online Estate Agent is, ‘is it possible to advertise my property on Rightmove privately’?
The answer is no, but rather then leave it at that I thought it would be worthwhile to explain the reasons why and also the alternatives to using a traditional high street estate agent to get your property listed on Rightmove.
Rightmove will only allow ‘estate agents’ to advertise properties on its website. This means individuals and any other property sites that are not deemed to be an estate agent cannot list properties on the Uk’s golden property website.
Up until around 2005, Rightmove did allow what are termed ‘private house sales’ websites to advertise their properties on its site. However, as you can probably imagine, this caused uproar amongst its main customer base, estate agents, as private house sales websites vastly undercut the commission estate agents would charge. Consequently private house sales were banned from advertising on Rightmove.
So what does Rightmove deem to be an Estate Agent?
Rightmove uses the Estate Agent Act 1979 which defines an estate agent to be someone who is assisting the sale of a property freehold or leasehold for a client and is acting on instructions from a client.
The activities that an estate agent must adhere to under this act include, informing clients about offers and describing a property accurately and in a way that is not misleading to potential buyers.
To further interpret this latter point, this mean that all estate agents on Rightmove must have visited the property they are marketing to validate its existence, appearance and layout as well as fielding all inquiries from interested buyers.
So do I have to use a High Street Estate Agent or are there alternatives?
Using a high street estate agent to make sure your property gets viewed by the millions of buyers and tenants that use Rightmove is still by far the most popular method.
However, there is an alternative that has beoming increasingly popular in the last few years which is online estate agents. Typically online estate agents such as My Online Estate Agent will charge a fixed fee or a very small commission. Like high street estate agents, online estate agents will perform a home visit and valuation as well as fielding all inquiries from interested buyers and landlords. Given online estate agents have lower overheads as they normally do not have prime high street premises, they can afford to charge lower fees.
Online estate agents may not be for everyone but they are rapidly growing in popularity as more and more people get to know of their services. If you are looking to advertise your property on Rightmove but not pay high street commission rates they really are the only alternative.