Industry challenger Rummage4, founded by Robert May, has a new chairman.
He is Peter Andrew, who is also deputy chairman of the developers’ trade body HBF.
He reveals his appointment here:
https://www.hbf.co.uk/people/peter-andrew/
Separately, we understand that another top name, from the City, is joining Rummage4 in November, to head up the company.
May has not denied this latter appointment, yesterday telling EYE only that these are “exciting times”.
May has been telling agents, including in posts on EYE, that his business will offer more, and cheaper, leads to agents than the portals, while also giving its agents a lot more market information.
May’s information on Purplebricks sales underpinned a report from Jefferies earlier this year which challenged the figures, saying that Purplebricks sells some 50% of the properties it lists.
No date has yet been given for the launch of Rummage4.
Comments (57)
Really not sure about the 4 in the web domain name
Ask Alexa what she thinks of it. We have been voice recognition and ai ready from before we even started coding.
Alexa doesn’t give two hoots whether it is the number 4 or the word for, she hears a gramatically correct sentence that appears to contains a verb, a preposition then adjectives and nouns
Alexa ask rummage for
“Really not sure about the 4 in the web domain name”
dave_d – do you know why 3M* are called that?
Why is 7UP not Seven-UP (PLEASE no referrals to the triple-x version of Snow White – Frau Renshaw doesn’t like 5mut… much…)
WD-40 and every Porsche and Ferrarri worth having are known for the numbers they wear.
(and not that it’s 100% relevant – but I won’t call the latest Boeing world-shrinking cattle-truck a “Dreamliner” – it’s a 787. the same way that the “Jumbo Jet” is and always will be a ‘747’)
The boards I designed for my company shouted “4Sale” and “2Let”. But I’m sure that didn’t influence Mr May at all – in fact he probably doesn’t even know that (until he reads this, anyhows…).
Numbers stick in a world of words.
*3M were ‘born’ as Minnesota Mining and Manufacturing Company. Quite a mouthful – and bu99er-all relevance to what they are now known for. In fact, mining almost closed the business.
You’d change that name to something catchy – like ‘3M’ – wouldn’t you?
They did – but their first commercial product was Three-M-ite cloth – so it looked like they had a couple of goes to get it right..
Mr May scored with the first kick.
Good luck with this Robert – keep us all posted…..
Colour me excited! Looking forward to the reveal.
Looking good Robert
Cyberduck
So your property was still marked as SSTC several weeks after you completed.
How many other PB properties were/are still marked as SSTC when they had completed- probably as a consequence of no real incentive for LPE’s to monitor post sale progress/completions as they have already been paid?
Would that artificially increase PB’s stated listing to SSTC stats during any given period?
“Would that artificially increase PB’s stated listing to SSTC stats during any given period?”
Not sure about that, Mr Flowers – but the previous sale agreed (that fell through) would no doubt clock up at least one notch on someone’s chart – especially if the chart was based on figures supplied by a Portal dressed in Purple…
Haha crispy peking duck. It burns!
I agree PeeBee, you know that is why pay any way stats should be based on total listings to completions.
”Would that artificially increase PB’s stated listing to SSTC stats during any given period?”
Example: If you reported listing to SSTC say half yearly based on what is sold STC rather than what was sold STC that included properties that had ‘unknowingly’ completed would these stats be closer to 90% or 50%?
Just a thought.
Alternatively is the difference between 50% and say 88% their fall through rate?
Either way, this makes a 50/50 coin toss much more likely when you also take into account the many properties that do not sell STC or complete?
Mr Flowers
Their goalposts on this subject are, to say the least, ‘moveable’ on the subject of “sales success”.
Transcript from the BBC Moneybox programme, 15 October 2016. Michael Bruce, Group CEOs comments in bold:
So what percentage of your customers pay a fee – but their property doesn’t sell?
Erm… very few people… err…err we sell a… the greatest percentage of properties that we take to the market than ANY other agent in the UK
So what is the percentage? I’ve seen estimates that it’s only one in seven or one in three that sell.
No – it’s… eighty-eight percent of people err… errr… sell their house prior to the period of deferment which is ten months, erm… and… you know, at the end of the day, we sell more houses a percentage of what we take to the market than ANY other Agent in the UK we’re also the most positively reviewed Agent than ANYONE else in the UK and THAT is because we have a strong reputation for selling houses and getting the job done better than anyone else.
So – EIGHTY EIGHT percent of the people that list with you SELL their home?
Correct.
He then went on to state that the other tewelve percent also sold – but after a ten-month period.
Bring forward the clock to February this year – and the CEO-of-the-moment Mr Lee Wainwright put the figure at 78% when pressed… and pressed… by Adrian Goldberg on Radio 5s 5Live Investigates – and when further pressed to qualify that 78% claim, stated that this related to properties “sold subject to Contract”.
Forward once more to 5 July, when their FY2018 results were released, and the baton for statistics was handed over to “independent” researchers TwentyCi, whose “source material” was translated by Purplebricks and stated as
“No1 at selling houses: 81% of listings sold within 12 months”
“source data” and a TwentyCi Report referred to in the company’s Financila Report THAT HAVE NEVER BEEN RELEASED. That is despite Group CE Mr Bruce stating, in the FY18 Results Statement
“As the latest independent UK research by TwentyCi released July 2018 shows, we sell more of our properties and complete faster than any of the top 10 largest agencies in the country, saving consumers thousands of pounds in the process.”
Come on, ducky – prove me wrong on that one, single point.
A Digital Detective like you should find that a piece of kidney-water.
SHOW ME THE REPORT TO WHICH THESE MOST RECENT CLAIMS REFER.
Thomas Flowers,
See my answer above.
>Would that artificially increase PB’s stated listing to SSTC stats during any given period?
I don’t know and neither do you or PeeBee. So PeeBee’s comments are once more just pure speculation.
Peebee, are you the same PeeBee who worked at Bridgfords who had an Office in Jesmond in the early 90’s?
Oh, back to the unmasking attempt are we? What a loser you are. Go and play with your buddies on lse. Oh wait, they’ve worked you out as well.
Never worked at Bridgfords, ducky.
#duckshot
Good luck Robert. Looking forward to seeing it.
>May’s information on Purplebricks sales underpinned a report from Jefferies earlier this year which challenged the figures, saying that Purplebricks sells some 50% of the properties it lists.
Well that’s not strictly true.
it said that for a particular month and the figures were disputed by PurpleBricks, one of their points being that it can take a while for properties to get registered at the Land Registry.
For example, I had exchanged and completed by the end of October and Robert May was mocking me with his friend PeeBee on 21st November 2017 on twitter “The stress of moving is a terrible thing, the stress of agreeing a sale 5 months ago and to be sat there waiting with your listing marked SSTC putting off other buyers?”
Real outstanding behaviour from two people who pride themselves on their professionalism. Robert May’s comment was accompanied by a picture of a cartoon duck.
You wonder how many other properties fall through the cracks with Robert May’s software.
Hi Cyberduck46
So your property completed end of October and was still marked as SSTC online on the 21st November ?
Why is anybody still engaging with this waste of skin? When you put the lid back on the jam jar, the wasps go away.
Yes it was, AQ73.
However (and totally coincidentally – although some may doubt that ‘coincidence’…), as if by magic, it was removed the very same day.
#Funny_that…
Cyberduck46
Care to comment that it appears your property was marketed online with the incorrect status, some might even say misleading ?
AgentQ73,
Yes, the property was listed as SSTC when in fact the status was exchanged and completed. For quite some time if my memory serves me correctly.
Yes that is misleading but what transactional action would result from it? And are you not being a trifle petty? A little bit of a jobsworth? Nothing more serious in your industry other than a completed property being incorrectly listed as SSTC?
I think the more interesting and more significant point is that Robert May’s software is essentially unreliable if it expects the status as published in RM & Zoopla to be accurate and assumes that the Land Registry is updated in a given time period.
cyberduck46
Do you not feel an agent misrepresenting how many properties they have under offer in an area would benefit from this ?
A lot of potential vendors will look online to see which agents are selling property in their area before deciding which agents to call out, misrepresenting the status of a property as was done with yours will increase the chances of PB being called out. Its the same as leaving a sold board up outside a house way after it has completed.
Incompetence or intentional who knows but to dismiss it as of no consequence is not correct.
And yes there are lots of issues in our industry but you dont seem to understand this particular one so i thought i would try to enlighten you.
“Yes that is misleading”
’nuff said, ducky. I will expect you to file an official complaint to .@ASA_UK on the basis of that statement.
Can I take it as a given that you already have the address to write to…?
Oh no, precious little bi tch mode again,
Pass the pancakes – this crispy peking duck is done.
Room101 your comment made me hungry.
The Man, The Myth, The Legend …… 😉 At last Robert is breaking cover.
As regular posters will know i am fiercely secretive on who i am and also do not take kindly to third party leeches on our industry.
I have been privileged to have a run through on what Rummage will do for agents. Its a really exciting opportunity for agents.
I just hope that failed experiments such as NAEA’s offering, OTM do not hinder agents getting involved in Rummage through apathy.
We are running out of chances to keep control of our data and spend. Rummage will help with that and more.
The team he is putting together is extraordinary. Development, Sales, Service, Marketing, Directors all good people at heart and excellent in their fields.
Best of luck Robert, but you do not need it.
>As regular posters will know i am fiercely secretive on who i am
Then if you are one of Robert May’s trialists then you will probably have given some big clues as to your identity. There are only a few Agents and properties listed on the rummage4property site and it doesn’t take a brain suregeon to be able to locate them.
>I have been privileged to have a run through on what Rummage will do for agents. Its a really exciting opportunity for agents.
smile please, have you actually measured what it has done for you? Can you elaborate?
I must admit after seeing promotional posts on twitter from Robert May I’m more than a lilttle sceptical.
I am not part of the Beta team of agents, I have just seen what he has done for those agents.
As such i cannot measure what he has done for me.
However, If you want to be competative on a local level, and be able to genuinely demonstrate why you are the best agent for a vendor for their property, I have no doubt this is what agents should be subscribing to.
Costings are sensible as well.
I dont want to say too much more as above Robert is already a little miffed his power has been dampened by todays news story.
If you are really interested Duck, and not looking to just pick holes (i have by the way over the years when he has spoken to me) Why not engage him in sensible conversation. I am sure he is happy to talk.
smile please,
>Why not engage him in sensible conversation. I am sure he is happy to talk.
Well I doubt he would because he refused to provide me with other software he was selling stating “You can’t, you aren’t an agent or an analyst. I will only treat with people I like and who are properly motivated.”
And anyway, I think the questions should be answered publicly, after all that’s where he does his advertising. On twitter and in the comments sections of PIE.
But when anybody asks it’s always a secret.
See question by “Keyser Söze”
Mr Lawson you are not an agent and not an analyst the products aren’t built for you so why would you want to see them and why would I need or want to show you?
You are not correct that when anyone asks it is a secret, those people who have reason to see my system have seen it.
You might have to accept I do not like the way you communicate or conduct yourself and have no desire, need or motivation to do business with people who lack basic courtesy, manners or decorum. Rummage4 is a project I am doing in my retirement with my time and my money. I am building a system that will help others and if it does that will provide social benefits too. How about you put your envy and nastiness to one side and attempt to do something meaningful with your retirement, your money and whatever talents you might possess?
Robert where are these adverts the quack is talking about?
Are you hiding them from me?
Robert,
Google currently has just 31 pages indexed from the rummage4property.co.uk site.
Are these people paying customers or just friends?
I see one is a chap Paul Barker, working up in Blyth as an Office Manager. https://rummage4property.co.uk/area/NE/agents/Rickards/PropertyValuation/Blyth.html. A friend of yours perhaps?
Chris Wood seems to be another one on there. https://rummage4property.co.uk/area/TR/agents/PDQ/Listings/ChyandaunceHouse.html
I see the usual village idiot has already been all over this post with his down thumbing.
@Robert, If you need technological help, Trovimap is here for you. sniven@trovimap.com
All the best,
Scott
Interesting. Can I ask what it is?
Finally, come on then, let’s take it for a drive!
Will it include a decent lettings option?
Lettings what I do best! But we are concentrating on sales first.
JC, if you get too many leads, you will have to work more than 3 days a week 🙂
Will your Lettings sort 1,12, 52, 365.25?
If so, it might have some wider public applications… 😉
It is because of the complications of lettings which includes variations you probably have never dreamt of (chickens paid on quarter days) we need to get a firm foundation before tackling rental period search.
I am upset by this article. I have put 9 years of my time and my money building something to help the honest decent people in my industry fight the ills that damage it and prevents it being the profession I joined in 1986
I have endured ridicule, rudeness and campaigns to discredit me. It was made very clear the upset that would be caused by the publication of any article about the appointments I am making or attempting to make and I asked for both patience and respect. That request has been ignored.
My comments about the existing portals have been misinterpreted. The generation 3 portals are outdated they do not fit properly with technology that is 2 generations ahead of them. I’ve built a system that does things a bit differently to a portal. If that replaces the portals or helps control their unjustified costs so be it. I am not competing with them I am simply building something for the same set of customers.
Thumbs up from me Mr May. Keep it going. Ignore the haters.
Keep looking forward 🙂
Good luck RM, but if one of your objectives is to control the costs of the other portals for agents, then I can only assume by default you will be competing with them in some shape or form.
Prop tech is not my area, but wish you luck as any cost savings for an agent, is more than welcome in these uncertain times
KBO Robert, ignore the flak and Keep Buggering On.
I would have liked to be involved with this from the start as I share the values shared by RM
We are only just beginning, please get in touch. I am rummage4_search on twitter.
Having got to know Robert more over the last few years, here is a man who passionately believes in doing things right and championing the good agents who do things properly. I wish him and his team the very best of luck with their new offering
Thank you
What Robert has already created and with what is in the pipeline, good agents everywhere are going to love. The team is a select who’s who of highly respected industry thought leaders. That speaks volumes.
Very interested in what Robert has to offer.
It needs to be a non profit making set up otherwise it’s as same as any other offering. It needs to be owned and run by Estate Agents.
Price alone will not do the trick.
Equity and fairmess have been built into Rummage4 from the outset. Rummage4 is a membership organisation where there are no economies of scale discounts; everyone pays the same.
The membership sturcture effectively distributes the ownership and value of the firm evenly across evryone who chooses to be a member.
I am experienced enough to know that allowing Rummage4 to be run by agents would be the wrong thing to do, that is why I am slowly cherry picking the very best individuals to join me and build a management team that can run the firm in the way it should be properly run.
good luck
Property Poke…
Estate Agents can’t agree to cross the road together?
Profit making? Robert & Co should expect a profit, an acceptable profit, it’s not a charity.
Rightmove profit at the expense of agents is unacceptable and the OTM Top Percent Self-Reward Scheme is unacceptable to me.
However, I am in business to make a profit. My Charity Work is simply that, Charity Work.