Purple Bricks are a national online estate agency which was started founded by brothers Michael and Kenny Bruce after selling their Midlands estate agent Burchell Edwards to Connells in 2011.
After selling their property agency they decided to start an online estate agency that offered property services to UK homeowners throughout the United Kingdom. Purple Bricks currently have over 9,000 properties listed on their RightMove account which means they probably list over 500 new properties every month.
They listed their business on the stock exchange in 2014 with a current market capitalisation of over £380m.
Video interview about Purple Bricks stock listing
With this sort of scale it is safe to say Purple Bricks are aiming to become the largest Estate Agency in the UK. In fact based on instructions they are already number 3 after the large high street chains Connells and Foxtons.
Purple Bricks have a network of self-employed estate agents located throughout the UK. They work from home and handle all the local leads from people enquiring to sell their property on their website.
After you enter your details the local property agent will visit your property, estimate how much your house is worth and offer you to list the property on their portal.
They will charge you an agency fee normally in the region of £800 + VAT which is payable after completion.
They will also offer and earn commission from third party services such as conveyancing, mortgage advice and removal company quotes.
They normally split the commission 50/50 with their local property agent.
Without having access to internal information we have to base our assumptions on national data from other online agents. Typically, 20% of their listings are likely to complete which means they probably sell 100 homes every month with an average sales cycle of 14 weeks.
It all depends on what you require in terms of service. If you’re looking for the cheapest way to sell your house with an Estate Agent we think their service might be a good fit. However, with over 9,000 listed properties it is difficult to see how they can deliver a personal service to all their customers. If you’re looking for an estate agent who will keep you in close contact, you will probably still be better off using your local high street estate agents.
According to Trust Pilot the online estate agency has over 11,000 active reviews with an average score of 9.4 which is an extremely good review compared to other online estate agents.
One Purple Bricks Review from a Mrs Green said:
The process has been simple from start to finish. Darren Matthewson was professional and readily available to help with any questions or queries. The property details were quickly ready and on the website and Rightmove.
The booking, feedback and offers system was easy to use and worked well.
I would recommend Purplebricks to anyone wishing to sell a property.
You can read more feedback here.
Search for Purple Bricks Property for Sale here or sell your house online with us.
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Interesting read thank you.
Thinking of trying purple bricks next year myself.
I have been browsing online more than 2 hours today, yet I never found any interesting article like yours.
It is pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will be much more useful than ever before.
Purple bricks are the future of estate agency why pay 1.5-2% commission when you just pay a one off upfront fee
Wish you guys would come to Los Angeles!!! You wouldnt believe the level of overpriced & incompetent, lazy, & often unknowledgeable real estate agents “working” in this city!
Thats sad to hear. How does the market work there? It’s mainly MLM agents who buy and sell from our understanding.
Hi , please can you let me know if you are operating in Northern Ireland . Many thanks Frances Cameron .
I’m afraid we don’t cover NI at the moment. Check back within the next few months though as we are trying to get an agent there.
I am looking for a house/bungalow in Chislehurst / Petts Wook. I have tried to find something on your site. I know at least two properties in Chislehurst with your boards outside but your site tells me you have nothing.
Hi,
You might have been looking for the PurpleBricks website but landing on here instead. This article is a review about PurpleBricks and how their company works. Please visit their website to search for homes in your area.
Does Purple brick do the negotiating and prepare the contract between buyer and seller? Also do they prepare the seller on the order of things that need to be done like title company, inspection, etc…
I believe they do. The provide the same services as you’d expect from an agent except the high street location.