A brief statement to the London Stock Market this evening has confirmed that Rightmove will, after all, carry OpenRent listings in future, following an agreement over fees.
There was speculation a deal would be struck, despite a separate statement by Rightmove two days ago saying OpenRent listings would be removed from the portal on September 1.
OpenRent contributes some 8% of Rightmove lettings listings, so its loss - had it happened - would have been one of the biggest blows to the Number One portal in recent years; the very threat of it prompted Rightmove to reassure shareholders that its long-term profit and revenue forecasts remained in place.
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Who could have predicted this? Everyone, that's who.
Agents should establish a network with a single contract for payments with RM, similar to how corporates operate. In this setup, agents would contribute to the network, which would then handle payments to RM and serve as the primary negotiator.
Shocker!
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