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  • FIRST POST
    • chieftains
    • By chieftains 9th Jun 16, 10:03 AM
    • 5Posts
    • 0Thanks
    chieftains
    Rightmove Featured Property
    • #1
    • 9th Jun 16, 10:03 AM
    Rightmove Featured Property 9th Jun 16 at 10:03 AM
    Hi,


    We have our house for sale with an online agent. The house has been on the market for 12 days and we have had 14 viewers. We have not had any serious offers and the viewings have slowed (we only have one booked).


    Has anyone paid extra to have there property listed as a featured property on Rightmove. Our agent charges 240 for a month. We were wondering if its worth the money?


    Thanks for your help
Page 1
    • jbainbridge
    • By jbainbridge 9th Jun 16, 10:05 AM
    • 1,807 Posts
    • 1,178 Thanks
    jbainbridge
    • #2
    • 9th Jun 16, 10:05 AM
    • #2
    • 9th Jun 16, 10:05 AM
    I wouldn't - makes you look a bit desperate to be honest!
    • Dan-Dan
    • By Dan-Dan 9th Jun 16, 10:06 AM
    • 4,961 Posts
    • 4,344 Thanks
    Dan-Dan
    • #3
    • 9th Jun 16, 10:06 AM
    • #3
    • 9th Jun 16, 10:06 AM
    Any serious buyer will find your property easily without you resorting to that
    Never, under any circumstances, take a sleeping pill and a laxative on the same night.
    • sheff6107
    • By sheff6107 9th Jun 16, 10:13 AM
    • 445 Posts
    • 293 Thanks
    sheff6107
    • #4
    • 9th Jun 16, 10:13 AM
    • #4
    • 9th Jun 16, 10:13 AM
    Everybody's 'desperate', so I don't subscribe to that view personally.

    We tried it for a week and our conversion rate went from 3% to 6%.

    It's a useful tool for getting to the top of the listings (people reduce their prices to get bumped up all the time), but there's no point after only 12 days. Maybe after a few months.
    • Boatdweller
    • By Boatdweller 9th Jun 16, 10:13 AM
    • 158 Posts
    • 109 Thanks
    Boatdweller
    • #5
    • 9th Jun 16, 10:13 AM
    • #5
    • 9th Jun 16, 10:13 AM
    It's not worth 240 a month. Not at all. If the agent is doing their job properly you don't need a premium listing.
    • eddddy
    • By eddddy 9th Jun 16, 11:17 AM
    • 7,260 Posts
    • 7,212 Thanks
    eddddy
    • #6
    • 9th Jun 16, 11:17 AM
    • #6
    • 9th Jun 16, 11:17 AM
    If they wanted to, your EA could give you detailed information on how Featured Listings impact their sales - but they probably wouldn't because it's commercially sensitive info...

    Rightmove property performance reports show:

    - The number of times each property appears in a search
    - The 'click-through' rate (i.e. how often people click to see the property details)

    Then the EA's own records show the follow up stages:

    - The number of viewings the property gets
    - Viewings to Offer ratio, Time to offer etc.


    So, in theory, the EA should be able to show you examples of their properties that had featured listings vs those that didn't - so you can see the impact all the way through to the final sale.

    But I bet they won't!
    Last edited by eddddy; 09-06-2016 at 11:22 AM.
    • ElsieMonkey
    • By ElsieMonkey 9th Jun 16, 12:41 PM
    • 262 Posts
    • 246 Thanks
    ElsieMonkey
    • #7
    • 9th Jun 16, 12:41 PM
    • #7
    • 9th Jun 16, 12:41 PM
    It's not worth 240 a month. Not at all. If the agent is doing their job properly you don't need a premium listing.
    Originally posted by Boatdweller
    I'm not sure I agree with the idea that if an estate agent was doing their job properly the vendor wouldn't be encountering the issue they feel they are having. What do people think estate agents do? They advertise properties on Rightmove and the like, and put a key in the door to let people in for viewings. Adverts in windows/newspapers are useless since no one shops like that anymore, and in my experience they are no help on viewings as they can't answer any questions. So what is doing their job properly? What is it that the estate agent should be doing? Do they have that elusive list of people ready to move, that many of them claim, who they call up and try and convince them to view? Estate agents don't sell properties, no one can be convinced to buy something they are not really interested in, especially by a group of people who have a reputation of being less than honest. Estate agents advertise your property, that is all.

    If you're having problems it's always down to price in my experience. The amount of viewers so far indicate that the advert is performing relatively well. But perhaps on visiting viewers feel it doesn't offer value for money, or there's something they see in person that puts them off. OP have you had any feedback from viewers? Also bare in mind that we're edging towards summer holiday season which tends to get a bit quiet, and on top of that the referendum is coming up which I feel is holding people up from making decisions. This may explain the sudden drop off of viewers.

    I wouldn't pay out that kind of money for an enhanced advert, seems like an awful lot of money. You have been getting a fair amount of viewings which indicates the advert isn't the problem...it's something further down the process that's putting people off. I'd be looking at my listing price, and have a hard look at what may or may not be off putting in or around my house when people are viewing, which I can improve.
    Last edited by ElsieMonkey; 09-06-2016 at 12:44 PM.
    • dc197
    • By dc197 9th Jun 16, 1:01 PM
    • 794 Posts
    • 620 Thanks
    dc197
    • #8
    • 9th Jun 16, 1:01 PM
    • #8
    • 9th Jun 16, 1:01 PM

    We tried it for a week and our conversion rate went from 3% to 6%.
    Originally posted by sheff6107
    Is that a ratio of viewings to offers, or of website traffic, or what?
    • hazyjo
    • By hazyjo 9th Jun 16, 1:04 PM
    • 11,143 Posts
    • 14,775 Thanks
    hazyjo
    • #9
    • 9th Jun 16, 1:04 PM
    • #9
    • 9th Jun 16, 1:04 PM
    In an area like mine, yes, estate agents do have a list of people looking to buy. They're climbing over each other to get that first call, or be first through the door to view. Obviously different in other areas.


    'Featured Property' might make me look twice if it was awarded that status on its own merit, but to pay for it? Nah, I'd maybe look to be nosy where I wouldn't have done before, but I'd definitely have found it on the main listing anyway if it's what I was looking for.


    It's not even been on 2 weeks. People are holding off now until after the vote. You said no serious offers, so I presume there has been some interest/offers. New buyers are looking every day. It just takes one of them to want it.


    Def wouldn't worry about price after less than 2 weeks (especially with the EU referendum round the corner).


    Jx
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes; Thai cooking stuff; Jo Brand talk; Slime Factory; Flawless tickets; Comedy night tickets; Triominos
    • aniahill
    • By aniahill 9th Jun 16, 1:19 PM
    • 181 Posts
    • 74 Thanks
    aniahill
    Whenever I've seen them, I've been put off by featured properties - it makes me think that if you're paying for that, the property is on the market for too much, or they're getting desperate.

    Unless there are thousands of properties in a small area, similar price, similar number of rooms, people will be seeing yours; this has been proven by the amount of viewers. Depending on the area, it's not been on for a long time
    • sheff6107
    • By sheff6107 9th Jun 16, 2:51 PM
    • 445 Posts
    • 293 Thanks
    sheff6107
    Is that a ratio of viewings to offers, or of website traffic, or what?
    Originally posted by dc197
    Sorry, it's the Rightmove click-through rate
    • kilby_007
    • By kilby_007 9th Jun 16, 4:03 PM
    • 732 Posts
    • 492 Thanks
    kilby_007
    In my experience, featured properties have been initially overvalued by the EA and sat on the market for ages. This gives the EA the opportunity to sell extra marketing which as far as I know costs them nothing extra. The ones that keep popping up for me have been on my watch list for months or years and if anything just serves as a reminder that nobody else wants to buy the property if it's still there!
    • Dan-Dan
    • By Dan-Dan 9th Jun 16, 4:06 PM
    • 4,961 Posts
    • 4,344 Thanks
    Dan-Dan
    If i see `featured property` on RM , i assume it will be a spectacular 5 bedroom detached with land or something equally amazing , not some bog standard 2 bed in an estate (which is what is currently showing on my latest search) as that just looks a little sad and desperate
    Never, under any circumstances, take a sleeping pill and a laxative on the same night.
    • DRFC1879
    • By DRFC1879 9th Jun 16, 4:09 PM
    • 100 Posts
    • 82 Thanks
    DRFC1879
    Twelve DAYS and you're panicking? As above, if it's still hanging around after a few months, have another look at your price & marketing strategy but for now, chill out!
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