Agencies to pay £70,000 a branch for Rightmove by 2025, says Boomin boss

Michael Bruce tells conference that annual costs for using the portal are becoming a 'real problem' for some independent agents.

rightmove boomin bruce

Boomin founder Michael Bruce has predicted that some independent estate agency branches will be paying between £60,000 and £70,000 a year to Rightmove by 2025 to advertise their properties on its portal, something he said was already becoming a ‘real problem’.

He made the claim during a session of the recent Neg conference in central London (pictured), joining four other industry leaders on the platform to discuss the future of the industry.

These were NAEA president Lianan Lapporto-Brown, Proeprtymark boss Nathan Emerson, eProp Services chief Jon Cooke and TPFG CEO Gareth Samples.

Bruce said: “Estate agents are the lifeblood of our industry and independent firms make of 75-80% of agencies within it, and Boomin is all about helping independent agents build a really sustainable future.

Rightmove costs

“But one of the biggest challenges for agents, particularly independent ones, is the business costs they face such as paying for property portals – the value that they deliver to agents is the biggest challenge going forward – I know people would say ‘well he would say that, wouldn’t he’ but I genuinely believe that to be true.

“The 400% increase in the costs of Rightmove going forward is a real problem – by 2025 some independent agents will be paying between £60,000 and £70,000 per branch to Rightmove for its services – and that’s an issue for our industry that does need to be addressed in some way.”

Link to Franchising featureBut Gareth Samples (pictured) countered that portal affordability depends on the size and turnover of a business whether it’s a small independent or a big multi-agency corporate, alluding to the different subscription deals that portals like Rightmove and Zoopla offer agents based on how many properties they list.

A full report on the panel session will be appearing in the next issue of The Negotiator Magazine.


3 Comments

    1. Happy New Year all,

      Thank you for the mention Mr. Arnold.

      Bootstrapping something superior to Rightmove and Zoopla and building in all the additional agent benefits such as microsites and price indication isn’t something many people could tackle. Without external investment building the product has to take priority over sales and marketing.

      It will be interesting to see what happens now we’ve finished the market insight stuff that makes a lot of agents reliant on portals for more than just their listings.

      All I have got to overcome now is the Luddites and naysayers who have their own commercial reliance on keeping things just the way they are and will happily either ignore our achievements or quietly talk them down

  1. The commercial advantage given to the multiples by the portals has long been an issue for the smaller independent agents.

    The portals are acutely aware that the public want the convenience of as many properties being available in one place without having to do multiple searches, and therefore protect their inventories by offering discounts to larger operators.

    The war is not really agents vs portals, it’s multiples vs independents; it just so happens the portals line up with the multiples….a little akin to the Middle Ages when the Barons aligned with the Kings they despised, in order to suppress the uprisings of the poor………

What's your opinion?

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