Agent spend on Rightmove tops £10,000 a year

Profits at Rightmove jumped by 18% last year, the company’s final results published this morning reveal, helped by charging agents on average an extra £88 a month. This took average spend to £842 a month or £10,104 a year (see graph, right) Operating profits rose from £137.2 million in 2015 to £161.6 million in 2016, helping boost earnings per share by 21%. All the dials on the Rightmove ship twitched upwards including revenue, which increased by 15% to £220 million including £168.3 million from agents, £33.9 million from new homes developers and £17.8 million from other sources. The report says the number of agents and developers advertising with the portal increased by 2% during 2016 to 20,121. It also highlights the listings gap between it and Zoopla, as Rightmove says it listed a million properties last year, a third more than ‘any other portal’. “Rightmove continues to be the place that home movers turn to first, with nearly 1.5 billion visits in 2016, up 10% on last year,” says outgoing CEO Nick McKittrick (pictured). “Home movers spent nearly a billion minutes every month searching and researching homes on Rightmove, the only place you can see almost the entire UK property market. “Our…

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