New rule on relisting houses on Rightmove - how stupid is that? any way around it?

[CatAndHisKit]

So just read an article saying that if your sale has fallen through (say, buyer withdrew) you can't relist the house on rightmove as a fresh listing before 3.5 MONTHS! They say it's not 'fair' to make them look as new listings, but FGS for the buyers who look it doesn;t matter whether it's new or relisted (and they can still look up how long has it been on / ask the agent), both for new buyers looking and those who looked for a while and saw that house anyway.
I had a buyer pulling out after 2.5months and we wanted to relist and alter the price - surely at least it shuold be allowed with price alteration!
I asked the agent why is it not on afetr couple of days, they didn't seem to know - is it a very new rule and even agents don't knowyet?
I desperately need for the house to be showing as I know people who aer seriously looking, look daily and put '24hrs' in search. So potentially no one will see my house unless they aer a brand new would-be buyer...What a mess!

[Smallsteps88]

Can’t you list it under relisted?

[CatAndHisKit]

P.S. It says the only way to relist is if you change the agent due to poor photos/description by previous agent, not an option in many cases. Mine actualy did update the main photo - and price.

[CatAndHisKit]

Small how is that done? On rightmove I can only see 'reduced today' when some are relisted, there is no 'relisted' option. That's exactly what they should have done (introduce 'relisted' term) if they are so worried about showing history.

[Smallsteps88]

Oh that’s crap. I assumed there would be a relist option. I don’t live in England so dont use right move. So you can’t list your house at all under any category for 3.5 months unless you change agents! What a stupid rule!

[Dazedandconfused10]

That has been the rule for years to stop agents taking properties not selling 'off' the market and relisting. I haven't worked in property for 3 years and it was the case when I did.

[Dazedandconfused10]

Also do you really want to advertise its relisting because that could be down to a bad survey. It might put people off.

[CatAndHisKit]

I'm just fuming!
So it doesn't show that it's been under offer/s even, just shows when it was last listed months ago - giving an impression that i's been on for many months without any offers - previously you could see history if you looked but you also knew when was it back on the market last time.
My house was reduced just pre-lockdown when they reduced it, and then sold afetr lockdown in June, buyer then pulled out so all it shows is 'erduced' in March! what bloody chance does it have to be sold or even to be seen/noticed now? Especially as not many people know about this yet.
I'm also looking to buy - does i mean I need to keep looking through the whole list of houses in my price range listed 'Anytime'? Never seen anything as idiotic as this !
I'm thinking of asking then to use a different website as well - I don't know if people look on Zoopla as much?

[Dazedandconfused10]

No one uses zoopla, and any one who looks there will have already looked at rightmove, if the agent doesn't already list on zoopla they will not pay the ridiculous fee just for your property. The issue with rightmove is they have the monopoly. It's been moaned about for years in the agency and on the market which was supposed to 'disrupt'the system failed.

If your agent does their job and registers buyers and does ring rounds like in the old times then it doesn't matter when it went on rightmove they will reccomend it. They want to sell it. They dont make money with it just sitting there

[CatAndHisKit]

Dazed no it hasn't been like this before - I 'm looking to buy and keep seeinh (before now) houses that fell through back on the market. It's very often not the survey but the buyer unable to get mortgage / changing their mind. How is that a seller's fault as it's the seller that loses in this.
I can't see at all how does it disadvantage anyone, people who are looking seriously would know this house came off then on (by being under SSTC), and those who just started looking, look at all houses (but fewer of those ). What would you advise in my case - after buyer wasting my time - it would haev sold in those two months to someone else, and previously it was the lockdown, nothing wrong with the house.
Surely if it a plaev was ever SSTC before it must be allowed t obe relisted (thye could mention this, I wouldn;t mind at all). As it is, no one would know it was back on the market. People don't know about this rule when looking!

[Dazedandconfused10]

It literally has. There used to be ways around it. But its not new. Sstc doesn't mean its sold and does not mean someone cant make an offer therefore it is still for sale until contracts have exchanged.

If it was allowed agents would relist every week to keep property fresh.

What you do is tell the buyer it's not makes as under offer until survey is instructed, that protects you to an extent.

Personally I dont limit timeframe when I search on rightmove. If people had previously been interested the agent should phone them when it comes back on. The issue is your agent not actively selling and relying on rightmove.

[Dazedandconfused10]

propertyindustryeye.com/newsflash-rightmove-introduces-new-14-week-rule-in-portal-juggling-crackdown/

[CatAndHisKit]

Dazed the agents do email fthose on their list but of course they can't email anyone not registered with them (most buyers that is, it's not a large chain of agents). Plenty of people only start looking when they start selling theirs.
Basically the buyers who got let down by the buyers get shafted as people previously registered with their agent already seen the house when it sold a couple of months ago. And most new faces (who stated looking in the last two months in my case) wouldnt notice the house.
I saw this article dated with today's date online so I thought it was new. I m not sure if my agent lists on other sites already. Zoopla used to be popular.

[CatAndHisKit]

sorry, the sellers who get let down by their buyers.

[Dazedandconfused10]

Article from 2016 linked for you. Any serious buyer does not limit the date the house comes on the market when they search. The agent should do a mail out when it comes back onto the market so people registered know.

[Oliversmumsarmy]

I had a flat that over a period of 9 months I got 3 buyers who had surveys, arranges a mortgage and each buyer was within hours of exchanging contracts when they pulled out for really spurious reasons.

Are they saying that instead instead of being able to put the house up again for sale the next day I would have to wait for 3.5 months before it would be advertised again.

Who does this help?

Not the buyer who can’t see what is actually for sale.
Certainly not the seller who can’t advertise their property and certainly not Rightmove themselves who will have less houses advertised so presumably less income.

If this is true then I expect Rightmove share prices to tumble.
Talk about shooting them selves in the foot.

Ratner would be proud 😁

[Dazedandconfused10]

Plus if it is online even with sstc it's still listed so its not relisting it when it becomes available again

[Dazedandconfused10]

Rightmove shares won't tumble. There is no where else that people look for property. When they charge £1200 per branch per month they are laughing.

[Dazedandconfused10]

@Oliversmumsarmy no they will advertise it wont show as new

[CatAndHisKit]

Dazed I understand it shouldnt be allowed to be relisted for no reason - only if it's been SSTC. If that doesn't count for anything why the rightmove has that 'sstc' mark - then they should only have 'sold' option. If it's been sstc - surely should be able to relist, or even put a much shorter time frame (2-4wks) - mine was off for 2.5months now!
As I say, me agent have emailed round - no I mean those who were interested and registreed with the agent, already seen the house back in June and didn't make offers, but what about dozens of potential buyers who look on rightmove but not registered with the agent (we have many agents in town).
Agent didn't know as she was saying she expected many calls by now - which didn;t come - it's very active here currently. I'm seriously panicking now. Personally as a buyer I didb't know about it and I don't just register with all agents where I 'm looking but even when I do, hardly any email proactively. Everyone relies on rightmove!

[CatAndHisKit]

Thanks for the link Dazed, but I've been looking for months and do see houses I saw before coming back as new - I limit to '24hrs' as I view daily and couldn't possibly look at the whole list of houses that came on months ago - it only is ok for a small place! I'm looking in 3 different locations, imagine looking daily through months of listings! Sounds like I should be doing it but a nightmare.

[Oliversmumsarmy]

Any serious buyer does not limit the date the house comes on the market when they search

I am a serious buyer. I limit the date as I would be looking through tens of thousands of properties each day.

House or flat up to £x00,000 within 40 miles of London put on within the previous 48hours.

I have already trawled through every listing and just need to keep up to date.

Seems like some of the ones I probably liked but were sold before I got there could be up for sale again and I would only know if I spent everyday on Rightmove.

[Dazedandconfused10]

Sstc lets you know if you phone and ask for a viewing chances are they will say no because why disrupt a sale in place but they could reccomend x properties which are similar and might be right for them.

Sold only happens when contracts exchange and it illegal to advertise as such unless this has happened so you get under offer or sstc.

If someone is serious about buying they will be registered in all agents in town. How else do you get told about a property before it goes on rightmove otherwise? Agent was making excuses.

[CatAndHisKit]

Oliver Who does this help? EXACTLY!
I just can't see the reasoning, it's crazy! As I said before, allow to relist those that's been SSTC, not just relist any house that didn't get offers - and allow reductions to relist. That's fair and helps both sides.
I'm just one example of a panicking and possibly screwed up seller.

[Dazedandconfused10]

@CatAndHisKit but that is where the agent should make their money by contacting you after you have registered to tell you about a property either new or reavaible. Make a new email address for all the email spam but if they arent actively trying to find you as a buyer, letting you get in there before anyone else etc then your agent isn't doing that on your property. No agent should be relying on rightmove

[CatAndHisKit]

Dazed but the problem is, not everyone knows this rule, people ASSUME that evereything shows on rightmove if reduced or back on the market. They don't care why it's back pn the market (can ask the agent) they just want it showing. You can't rely on all agents to be that proactive - they work mostly by doing viewings and valuations and prigressing, yes they email but if yo u register with many, you need to open all the emails, some aer repeats - instead of quickly seeing all new listing on rightmove on one last page!
We have a cople of dozens of agents in town, so people need to open that many emails daily, and then it's often not linking to all the info without going on website, from what I've seen.
What is the point of rightmove then if everyone should rely on agents emailing? It's supposed to be for speed and convenience, so you can check many times a day quickly.