Rightmove reveals ‘online only’ valuation tool as sellers shun ‘person to person’
Portal's Director of Partnerships says new tool reflects trend among more digital home owners to keep initial contact with local agents digital prior to instruction.
The mounting influence of the digital world on the property sales market continues apace following Rightmove’s decision to launch an ‘online only’ digital property valuation tool.
Its new tool will enable those seeking an estate agent to sell their home to bypass the traditional ‘in person’ valuation and complete much of the process largely online before instructing.
The portal, which says the tool will enables agents to ‘get in front of vendors of the future, and before [the] competition’, claims its research shows the ‘digital generation’ are increasingly keen to proceed online with much of their initial contact with a sales agency.
Prospective vendors send pictures and fairly detailed information via the Online Agent Valuation tool to selected agents, and then take it from there once the agent has provided their estimate of its likely launch asking price.
This differs significantly from Rightmove’s Instant Online Valuation and Local Valuation Alert tools, the former of which provides a likely market value for their property, while the latter connects agents with sellers to complete the traditional ‘visit’ and valuation.
Rightmove is clearly keen to ensure it doesn’t step agents’ toes commercially and says its latest valuation tool as been developed in consultation with the industry, and that it fills an instruction ‘opportunity gap’ somewhere between its instant and traditional valuation leads tools.
Leap forward
“Online Agent Valuation is a truly exciting step for the industry and a leap towards the next generation of instruction winning products for estate agents,” says Christian Balshen (main image), Rightmove’s Director of Agency Partnerships.
“Many prospective sellers have told us that they like to communicate digitally first, and this gives our partners a unique opportunity to engage with them in this way.
“Responsiveness came out on top as the most important thing for a potential seller when selecting an agent, and Online Agent Valuation allows our partners to demonstrate this from the outset.”
Interested agents can register online.
It’s a commodity sector. Very little perceived difference between any agencies and yet the industry is still taking the path of competence instead of character.
The potential client is naive, has zero capability of determining the competence of any agency and is usually given only half the story.
When agents lead with their only true difference, whether online or face to face, that’s when the magic happens.
An ill thought out way for Rightmove to take more money from the agents. This is just greed in force as Rightmove are not interested in how to help the potential sellers and are only interested in making more money. As EAMDL said this will just encourage overvaluing. If several agents in any one town pay the price that Rightmove demand for the tool those agents will soon realise the best way to get in the door is to give the highest price. Crass exploitation of the seller and agents. The valuation is not the way to choose an agent. It should be down to local knowledge, service and skill in sales progression especially as these days the latter is the hardest part of any transaction. Where does Christian get the info that responsiveness is the most important thing when choosing an agent. This is a made up statistic to back up Rightmove’s promotion with no substance or proof to back it up. Show us the poll questions that were asked and the results Christian. Only the other day a story in The Neg reported the most important thing is a local agent with local knowledge and not value or fees. Which is right? I think we all know that answer!
I wonder how long it might be before Rightmove no longer need estate agents…..?
I like Rightmove generally. However, this is the worst tool they’ve ever launched. Get three agents to compete with each other on valuations without having the contact details of the seller. Talk about encouraging agents to overvalue homes. Whoever, values the highest is going to get the call which means if it’s not you, you have shot yourself in the foot as the seller is likely to get two other agents round when they decide to go to the market. This just has not been thought through.