Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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IMO think he will have more to answer for as investors will look at what he has achieved since being in the top seat. Handed an unbreakable business, no innovation, played it safe with annual increases to achieve £85 increase per agent every year and sat on its single golden goose without spreading the rewards, risks and channels. Once again IMO with the volume of traffic it has revenues are a snapshot of what could and should have been .
Certainly the CEO *******s Up - Johnson likely to face the consequences of his rather less than empathic response to RM's valuable clients ,the estate agents.Forgetting he is relying on their goodwill. You can take the Michael for so long without a backlash
All he had to do was offer an immedaite cut and review the situation next month He can only hope that this is short lived as they might not be returning
With banks wanting to turn the housing market tap off for what could be 3 months or more. I’m hearing agents are continuing to leave are at the least looking to take member holidays from Rightmove unless it reduces its costs to zero.
Agents, such as I, are leaving Rightmove in droves following their Ratner moment on 18th March. In the meantime, AgentsMutual are trying to increase some agents subscriptions by +£300 per month, up from £750 (these are the original gold members.) Rightmobe's arrogance is seeing them hoist by their own petard!
There is a real chance (IMO) that revenues at RM will drop over £100m. £75m in discounts + £10m in agents not returning + £25m from branches closing or consolidating. Add to this that they may not be able to exercise their annual 10-15% increase for a couple of years and little innovation actually happening, doesn't look good.
Interested to see how the price drops to this news. Wish i knew how to short a stock
Zoopla offering agents 9 months free if they leave Rightmove
Due to volume of cancellations they have had to backtrack offering a 75% discount for 4 months, I estimate that will cost £60m profit. What's unknown is how many advertisers will still leave as hearing many will not come back.
https://propertyindustryeye.com/eye-newsflash-rightmove-announces-75-cut-in-rates-for-agents-and-says-sorry/
Yes Complete Gerard Ratner moment Those intending to leave temporarily might not come back
You don't treat longstanding clients in this way .Forgetting you can't take advantage of someone without their permission
Disastrous offer by RM (IMO) today in offering help to their members. Hearing a number of agents are giving notice on the back of this. My opinion is you could not be any more distant in understanding and listening to your customers. Will be interesting to hear how many agents have given notice which may not be reflected until end of May.
https://propertyindustryeye.com/eye-newsflash-rightmove-announces-deferred-payment-scheme-during-crisis/
We will be leaving rightmove too within the next month, fact is if a buyer is really serious about finding a house he/she will also look on the other two big portals who charge about a 10th of what rightmove does, also the shift is also going towards Facebook advertising. Rightmove are just impossible to work with can’t wait to be rid of them
They have pushed estate agents too far. Comment today
"We finally bit the bullet and handed in our notice to Rightmove yesterday. Looking forward to not receiving all those ridiculous calls from RM account managers trying to show us how to get ‘better value’ from our membership before throwing in the 10% annual price increase comment. We have been with them from the start…£30 per month back then, £1500 per month now! Ludicrous when you consider that is more than our rent and the other portals costs added together. We feel LIBERATED of the scourge of Rightmove! "
I’ve been an estate agency owner for over 14 years and I can tell you there is nothing but resentment for RM from most small to medium size agency owners, RM was pushed and made massive by the very same people this company now constantly hits with outrageous price increases, once a credible alternative comes along we’re all gona ditch this retch of a company like a flash, who will it get its revenues from then? purple-pricks? I doubt it.... they’re doomed as well. Just my opinion of course... oh along with thousands of others who they rip off
Check Greenwolfs post at 1025hrs
Yes I'm the idiot!
For the bounce LOL....
I see the info I needed was in an earlier RNS.
Hs this really dropped 90% or has there been some adjustment? Nothing in today's RNS.
sry, my mistake. was spending my time researching pera diamonds and sintered metal printing.
yes 1/10 split. sry.