Rightmove offers UK agencies a chance to defer paying fees

In the wake of the recent global pandemic, the UK's dominant player in online property listings, Rightmove will be offering all qualifying independent estate and letting agents, who are facing a collapse in viewings and sales with a cashflow lifeline of up to £500 a month.

Rightmove said in a recent press release, that it is offering smaller agencies the chance to defer paying fees of £500 per branch per month for three months or £275 per branch per month for six months.

For agents on a lettings only membership package, the scheme allows deferrals of £150 each month for six months or £250 each month for three months.

The scheme will be regularly reviewed to assess its suitability over the coming months. 

Rightmove’s Agency and New Homes Director David Anderson said: “As we enter a period of the unknown, at this stage we hope this payment deferral scheme will help to reduce some of the negative impacts. To help agents looking for practical advice we’re also running a series of webinars with industry experts on subjects from working at home through to legislation in the current environment and managing mental health.”

Rightmove will check a number of things when agents apply for the scheme. Some of the criteria will include:

• Have fewer than 25 branches on Rightmove
• Have been a continuous Rightmove customer for at least 12 months
• Pay by direct debit and have paid their Rightmove invoices on time for the past two years (or for the length of time they have been a customer if they have been on Rightmove less than two years)
• Provide evidence of sales or let agreed pipeline (either through SSTC or other proof of funds)

Larger agents may also be able to access a similar scheme based on the same qualification criteria, but this will also be dependent on their existing agreement.

SOURCE Rightmove
Edited by Gordana Davila