Peter Brooks-Johnson

  • Latest property news
    Latest property news

    Rightmove given green light to buy tenant referencing and landlord insurance firm

    Purchase of Van Mildert for £20 million has now gone ahead giving Rightmove a major additional foothold in the private rental market together with its tenant passport platform.

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  • Latest property newsvan mildert image
    Latest property news

    Rightmove acquires Van Mildert Landlord and Tenant Protection Limited

    In a deal worth £16m, it's CEO says, “Van Mildert’s products and operational experience will augment the Rightmove Tenant Passport.”

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  • Latest property news
    Latest property news

    Rightmove’s CEO Peter Brooks-Johnson joins board of classifieds app Shpock

    Rightmove's CEO Peter Brooks-Johnson is to join the board of MPI, which in the UK operates growing smartphone app, Shpock.

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  • Latest property news
    Latest property news

    Agent spend on Rightmove rises by 10% last year to £922 a month

    Agents spent 10% more listing their properties on Rightmove during 2017 than the year before, pushing their average monthly spend on the portal to £922 a month, its latest results show. This helped increase its revenue by 11% to £243.3m and operating profit by 10% to £178.3m. This means, its results show, that it has an extraordinary profit margin of 75.8%. The company says the increase in revenue is largely down to agents buying more of its products, data and services. “As the industry becomes more digital our software has become even more valuable to our customers with 90% of our Agency members making use of it each month,” says Rightmove’s CEO Peter Brooks-Johnson (pictured). Peter also reveals in the results that the company has been concentrating on renters over the past year, which is not surprising given the sluggish sales market and the decrease in ownership in recent years. Rightmove’s shareholders will also be happy – the cash rich company, which has also been buying back its share regularly throughout 2017, paid dividends totalling £140.4m last year, up from £131.3m in 2016. Rightmove’s site traffic also continues to run at full tilt – its site was visited 1.5 billion…

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  • Latest property news
    Latest property news

    Rightmove revenue per agent rises by 10%, latest results show

    The latest Rightmove results reveal that it has increased how much it receives in revenue from each agent every month by 10% year on year from £789 to £865. It also says it has seen a 1% increase in the number of agencies listing with the portal, in part due to the number of Purplebricks Local Property Experts listing on the site as ‘branch equivalents’. Rightmove says the price rise has come from an increase in prices and agents signing up to additional services, in particular its Optimiser product which helps an agent’s properties stand out more in their local area. Some 2,000 member agents have signed up to the service thus far, up from 1,000 a year ago, and Rightmove says agents who sign up to the package spend a minimum of £1,500 a month compared to the £780 average revenue per agent spent by non-Optimiser agents. Reporting on risks and uncertainties in the coming months within the UK housing market, Rightmove paints a relatively gloomy picture. It highlights how housing transactions were down 8% during the first six months of the year compared to last year, although it points out that transaction are up compared to the same period…

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