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March 2009

The Rightmove in the economic circumstances

RIGHTMOVE are launching a new service which is designed to help agents cope with the current economic downturn.

Propertydeal.co.uk is intended to help agents marry up their best buys with the cash-rich and mortgage-ready, who currently provide the majority of agents’ sales revenue.

The new site is set for launch next month and will allow homemovers to see price reductions in one easy place.

Miles Shipside, Rightmove’s commercial director, said: “Agents are all too aware that cash-rich and mortgage-ready buyers, although out there, are in short supply — and in a position to drive a hard bargain.

“It’s also true that making vendors understand this and reduce their asking price to saleable levels is a frustrating daily challenge. But once you’ve achieved that hard-won price reduction you need to grab the attention of those elusive buyers. That’s where Propertydeal.co.uk comes into its own.”

Propertydeal.co.uk will automatically include asking price reductions of one per cent or more that have occurred over the previous week.

The format will be a user-friendly online magazine updated weekly, delivered direct to a homemover’s inbox as well as being promoted on Propertydeal.co.uk. As ever, price reductions will also benefit from the massive reach of the Rightmove website.

“Propertydeal.co.uk will play to the pent-up demand among home movers looking for a deal,” added Mr Shipside.

“By leveraging the unparalleled reach of Rightmove, most of the serious homehunters in the UK will be poring over Propertydeal.co.uk very soon — generating more valuable leads for our members by putting their best deals in front of the right audience.

“Rightmove’s extensive research with leading agents has convinced us that members will be excited by this timely initiative that meets the needs of today’s challenging market place, and will be announcing further details on this additional member benefit later this month.”