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Rightmove – Everything You Need To Know!
Table of Contents
- What is Rightmove?
- Advantages of Rightmove
- Disadvantages of Rightmove
- Buying a property
- Selling a property
- What is shared ownership?
- What does Guide Price mean?
- Is Rightmove safe?
What is Rightmove?
Do you have a property or even some land that you wish to sell? Are you a first-time buyer who’s looking to find a mortgage on your dream home? Or are you interested in renting a new home overseas? Well with Rightmove, the process of buying, selling, or renting a property has never been made more simple.
To put it in simple terms, Rightmove is essentially an online estate agency. Rightmove is the largest UK property agency with 120 million visitors per month, which means finding a tenant, or potential buyer won’t be very difficult. Property is one of the most fruitful industries to enter, but can also be very overwhelming. Using Rightmove will eliminate a lot of stress such as finding an estate agent, trying to find the “perfect property” which could take years, and even eliminating large estate agents and advertising fees. If you’ve decided you want to make some money in property, then you definitely want to have a look at what Rightmove has to offer.
Advantages of Rightmove
Rightmove offers many advantages to using their servers, these include:
- Easy-To-Use: From the second you load up the Rightmove app or visit their website, you’re present on the screen with “for sale” and “to rent”. This makes using Rightmove extremely easy to navigate around their site. After you pick either “for sale” or “to rent”, all you are left to do is enter what you’re looking for (bedrooms, location, etc) and let Rightmove do the rest.
- Customer reach: One of the main advantages when using Rightmove, is simply the number of users it has. As mentioned in the introduction, there are currently 120 million people browsing Rightmove every single month. This means that when the time comes for you to sell your property, or rent it out to a tenant, the potential custom is endless and the time to make the sale is a lot faster.
- Amount of properties available: Due to there being 120 million monthly users, finding a quality property isn’t very difficult. Since there are so many properties available on Rightmove, finding exactly what you’re looking for is only a few clicks away. The best part of this is that properties are continuously getting added
- Agent valuation: When it comes to selling a property, the price needs to match what the property is worth. Figuring out how much your property is worth can be extremely difficult if you aren’t a professional agent. To figure out the worth of your home, a lot of different aspects come into consideration such as the location, size, condition, etc. If your house is on the market for too much, it simply just won’t sell, and if it’s on for too little, you’re missing out on potential profit. Luckily, Rightmove provides it’s very own “agent valuation” section, where a professional agent from your area will evaluate your property for free and give you a quote, so you’re ready to get it listed
- Property Types: When it comes to properties, it can be overwhelming, and sometimes even confusing with all the different property types that are on the market. Some of these include flats, bungalows, a terraced house, a semi-detached house, a detached house, etc. On Rightmove, all of the listed above options are available, as well as much more. How does this benefit you? Well, the simple answer to that is that there are more options to chose from. Having more options is good because a detached house may be more expensive compared to buying a terraced house or a semi-detached house.
- Rightmove is free: Even though Rightmove provides all this content and services which is available at any time, it’s completely free! You can go to the Rightmove website, or download their app, make an account and contact an agent regarding a property on the same day. This may take weeks using old traditional methods.
- Budget-Friendly: One of the many reasons people come to Rightmove is because they’re on a budget. On Rightmove, you’re able to put a minimum or maximum price limit on, meaning you can search for a property that is directly within your budget. Since Rightmove has properties all over the UK, as well as overseas, you won’t have an issue finding the perfect property for your budget.
- Search specification: When it comes to purchasing properties, it’s best to think about what key features you’d like the home to have such as how many bedrooms, property type, garden, etc. Luckily on Rightmove, their search option is easy to use and can be extremely specific if needed. As you can see in the image below, you can alter the location radios so you can look for locations within a certain distance of your desired search, you can change the price, how many bedrooms you’d like, the property type, the date the property was added e.g last 7 days. You can even tell Rightmove what the property MUST have, and what you DONT want to see. These search settings help you zoom in to your desired property.
Disadvantages of Rightmove
Although Rightmove has a lot of advantages when using it compared to going to your local estate agents, it does come with some disadvantages.
- Incorrect information: The first disadvantage when using Rightmove is that the owner of the property may give you incorrect information about the property, or just “forget” to tell you certain dilemmas with the home. You could also view deceiving photos on Rightmove which don’t show any bad parts of the home. Luckily, you can crush this problem by going to view the property, but it’s best to get a property surveyor to inspect the property before making a purchase to sure no information is incorrect or has been left out.
- A competitive market for auctions: Since Rightmove has 120 million monthly users, this can also have some disadvantages. One of them is that auctions can be slightly competitive. Everyone wants a good deal, so when one presents itself, you may not be the only person trying to make a quick buck. This would lead to you paying a little bit more than you initially intended or even just not being able to afford the property.
- Must be patient: Just like yourself, a lot of people are using Rightmove to make a profit on a property. If you have listed property on Rightmove, it may be sold within a week, or it may take 3 years. There’s no exact time period to selling, this is why it’s essentially your property is worth the price you’re listing it for. So just be patient when selling. The deal will come!
Buying a property
When it comes to buying a property, the idea can be overwhelming, especially if it’s your first property. When buying a property on Rightmove, this process is actually made really easy. To show you how easy it is, we’ve made a 3 step guide for you to follow to get you on the right path of buying your first property.
- As soon as you load up Rightmove, it asks you to click “for sale” or “to rent”. Click “for sale” and enter your desired property location. It will also ask you to enter some other details such as Radius, price, bedrooms, etc. Fill in this information with what you want to see. If you’re unsure and are just looking for some inspiration, change the price to your budget, the radius to where you want the property to be, and the property type to what you want to see. Leave the rest.
- After you’ve clicked search, you’ll be presented with all the results Rightmove could find with the information you provided. Scroll through the properties until you find one you like. When you click on a property, all the information about the property will be presented to you such as the location, what’s nearby, description, etc. You two main things you need to take into consideration when looking at a property is the location and the condition. The location of the property is important because it’s a lot harder to sell a property in a run-down neighbourhood, and you won’t get much profit out of it. The condition is important because you need to evaluate how much it’s going to cost you to renovate the home to the selling renting standards. Renovating a property will bring value to the home, which means you can sell it for more.
- The final step is easy. Once you’ve found a property you want to invest in, you can either click “call agent” where you’ll be given a phone number to call, or “email agent” where you can email the agent. The agent will then get back to you with more details about the property. You can then organize a viewing with the agent, and discuss purchasing.
Selling a property
Listing a property on the Rightmove market isn’t a hard process, but it’s also not shown to you as easy as buying a property is. Before you even think about selling your property, you need to make sure you’ve got all the information ready to present to Rightmove such as accurate photos, detailed description, location, properties details such as bedrooms and rooms, and most importantly, the price you’re asking for. Having all this information ready will make the process a lot faster. Since we’re here to help you make money, we’ve come up with another quick 3 step guide.
- Firstly, you need to contact Rightmove via email, or phone number. If you’re selling a house, call ” 01908 712300” or email “[email protected]“. If you’re selling a commercial property, call “01908 871024” or email ” [email protected]“. You contact either of these if you wish to rent a property out too.
- Once you’ve contacted Rightmove, they will then set up a meeting to set up a package that will suit your needs. Once an agreement has been made, your property will then be listed on the Rightmove market.
- When someone wishes to buy your property, the process to when you bought the property is just reversed, but this time you’ll be receiving money and not spending it. The buyer will set up a viewing with your agent, decide whether they want to buy the property, then you two must come to an agreement.
Using Rightmove is far cheaper than using traditional estate agents. Traditional estate agents will take up to 3.5% of the selling price, compared to Rightmove who will charge a much lower flat fee which is charged by online-only and hybrid estate agents. Here are some of Rightmove’s costs:
- Browsing Rightmove is free: If you wish to download Rightmove today with no money and get some inspiration on property prices, you’re free to do so, literally. Using Rightmove is completely free, you only have to pay when you decide to take action, but some services are also free on Rightmove such as mortgage calculator, property valuation, etc.
- Advertising: On Rightmove, you have to pay monthly to keep our property listed on there. This price is usually between £50 to £60 per month, which is extremely cheap compared to giving thousands.
- Online agents: Unfortunately, until you and your agent come to an agreement, no one will know how much it will cost for the agent’s services, but we can give you an idea. In places where property prices are increasing at a vase rate, such as London, the average Londoner would pay a traditional estate agent around £10,200. That’s A LOT of money. Using an online estate agent can save you around £9000 of that. So you can see the price difference between using a platform such as Rightmove compared to using traditional estate agents.
What is shared ownership?
When you’re looking through Rightmove, you may see a cheaper property with “shared ownership” displayed beneath it. All this means is the property will be shared between a set number of people. Sharing a property comes with some advantages, as well as disadvantages. There are:
- Smaller deposit: Since the property is shared, the deposit will be a lot smaller, making it more affordable.
- Equity growth: Overtime and with a little bit of renovation, the value of the property could increase. This would mean that your share of the property would grow, which would give you equity growth.
- Staircase: Staircase refers to buying more shares of the property. Such as owning 50%, then buying an additional 25%which would leave you with 75%. This is good because it allows you more time to save up some money, while already owning some of the property.
- Renting: Normally when a property has shared ownership, you aren’t allowed to rent the property out. Once the property is entirely paid off, it doesn’t matter since you’ll own the property, but until then, there are restrictions.
- Restrictions: Since you won’t own 100% of the property, you don’t have the right to make any changes to the home, without asking for written permission. This will restrict you from redecorating, etc.
- Protection under ownership: Even though this is a government-backed scheme, you don’t have full protection. The property’s monthly maintenance can increase so you need to ensure you can afford it.
What does Guide Price mean?
Another detail you’ll see in a lot of the cheaper property descriptions is “guide price”. Guild price refers to the approximate amount of money the owner would like to receive. The reason an owner would usually do this is that they don’t totally agree with the agent’s valuation, and wants more for the property. Here are some advantages and disadvantages of purchasing a guide price property:
- Potential cheaper deals: Since the guide price can fluctuate, the seller will usually put the property on Rightmove for a cheaper price. This is because they expect the price to increase, but if you’re the only bidder, then the price will just stay the same.
- More negotiating opportunities: Since the guide price isn’t an exact asking figure, you have more negotiating opportunities to attempt to bring the price down.
- Price could increase: Just like you could bring the price down, the price could just as easily increase. Some sellers sometimes put the property on the market for slightly cheaper to attract more attention, but then will only accept a higher bid.
- Unknown value: As stated, a lot of property owners sell their home on guide price because they didn’t agree with the agent’s valuation. This means that you’ll have to do a bit of research to find the property’s true value. This is easy through Rightmove.
Is Rightmove safe?
The idea of going to someone’s home and viewing it can be a little scary for some people. No one can ever say that this is entirely safe, but using Rightmove adds that extra bit of security to keep you safe. When someone lists their property via Rightmove, all their details are entered and checked for validation. When it comes to scam artists, this is pretty much fully protected. With Rightmove, everything is on documents, which means if anyone was to attempt a scam, it wouldn’t work very well, as long as yourself and the seller/buyer sign a document. Always cover your own back by getting a signature on both your behalf and the other parties’ behalf.
Rightmove is the UK’s leading property website for a reason. It can be used by anyone from a first-time buyer, to an experienced landlord. Rightmove is cheap, easy to use, and offers a wide range of services so you don’t have to go elsewhere. When it comes to property, Rightmove is where you want to be.