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dougless

Purplebricks losses grow on international expansion

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https://www.purplebricks.co.uk/?gclid=EAIaIQobChMIvrLevuuH3AIVSZPtCh03gAgKEAAYASAAEgJO3PD_BwE

Isnt the main issue with purp bricks the fact you have to pay up front £849 to get started, obvisuly this will have limited appeal to kite flyers who have no real intention of selling, unless they get a kite price. There will always be a market for the kite flyer.

Obviosuly as a buyer your probably in a better position as you seller has already committed to selling.

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I would imagine kite flyers are worst type of client for an estate agent. You would be wasting resources showing people round only to get constant grief from the seller when there are zero offers that meet their unrealistic expectation. Ultimately end up with no commission with property sitting on the market for years, or them blaming you and switching to another agent. Good business model to deter people like that. 

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I very much like the idea of a no-commission estate agent, and PB are definitely that. But I keep reading that they are into all the shady old estate agent practices - misleading buyers in various ways. Are they rotten to the core? There is such a good opportunity at the moment to clean that business up, and also clean up! (er, make a big profit). Are PB just your local estate agent's office, redux?

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bought through purplebricks, easy to deal with and they've got a good model. The new uber of the housing market.

Edited by Slimline

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1 hour ago, Horseradish said:

I very much like the idea of a no-commission estate agent, and PB are definitely that. But I keep reading that they are into all the shady old estate agent practices - misleading buyers in various ways. Are they rotten to the core? There is such a good opportunity at the moment to clean that business up, and also clean up! (er, make a big profit). Are PB just your local estate agent's office, redux?

The couple of houses I've viewed through PB I've dealt direct with vendor and had no contact with anyone from PB, so not sure how PB  could indulge in shady practices (at least no more than any other type of EA)?

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1 hour ago, nome said:

The couple of houses I've viewed through PB I've dealt direct with vendor and had no contact with anyone from PB, so not sure how PB  could indulge in shady practices (at least no more than any other type of EA)?

exactly, i had the usual offer spiel but stick to your guns and it's all good. 

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2 hours ago, nome said:

The couple of houses I've viewed through PB I've dealt direct with vendor and had no contact with anyone from PB, so not sure how PB  could indulge in shady practices (at least no more than any other type of EA)?

I guess doctoring the listings in various ways to make the property more appealing online than it is in reality. Like views that don't exist from the house directly. Hook the punter in and then give them the hard sell once they've taken the opportunity cost of traveling to the property. Perhaps not, though. I'd like to believe that they are good!

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Seemed OK for the single viewing I had with them. Definitely more polite and knowledgeable than the local EAs IMO.

I like the upfront charge - it encourages genuine sellers and encourages to price at a saleable price. My main gripe is that they seem to be a last resort agent, probably when all the kite flying is done.

 

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Does anyone know what PB offer for 850 - and I think it rises to 12xx in London - that doorsteps do not?

doorsteps will give you a RM/Zoopla/Etc listing for 100 or [better] that plus pro-photos and a EA written blurb for 200 which seems to be all you need?

I am guessing they are similar for the rest?

PB also allow a nowt-upfront-dumbass-sheme which is actually a financed-fee deal where you promise to pay the 850 [maybe plus some] in 9 months or so regardless of whether there's a sale at that point.

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11 hours ago, msi said:

Seemed OK for the single viewing I had with them. Definitely more polite and knowledgeable than the local EAs IMO.

I like the upfront charge - it encourages genuine sellers and encourages to price at a saleable price. My main gripe is that they seem to be a last resort agent, probably when all the kite flying is done.

 

This. My experience with PB, at least in Northern Ireland, is that they're the go to agent when you haven't managed to sell at an obscene price through normal channels. The traditional EA tried to get the vendor to drop the price so they move to PB because "I'm not going to give it away". 

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Quote

Shares in online estate agents Purplebricks have dropped more than 5%, after founder and chief executive Michael Bruce left the company.

Vic Darvey, who had been the firm's chief operating officer, will succeed Mr Bruce as chief executive.

Purplebricks also said it was pulling out of Australia and placing its US business under review.

Chairman Paul Pindar apologised to shareholders for its recent "disappointing" performance.

"With hindsight, our rate of geographic expansion was too rapid," he said.

The company has operated in Australia for two-and-a-half years, but said the prospective returns from the country were "not sufficient to justify continued investment".

Purplebricks is also cutting back investment in the US, although its Canadian business continues to flourish.

However, the firm is optimistic about its UK performance, saying in a statement: "Whilst the UK property market remains challenging, the company continues to outperform the market and the board remains confident about the future of the business.

"Having established a market-leading position, there remain many opportunities for further profitable growth and this will be a key area of focus going forward."

https://www.bbc.co.uk/news/business-48184376

 

 

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The more competition the better...the more estate agents the lower the cost to buy and sell....even better cut out the agent altogether....😉

 

 

 

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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