Purplebricks Share Discussion Threads

[bamboo2] 14/6/2016 22:54

hill, fyi, from my records...

40 properties were added to the database in the last 24 hours.

That compares quite well with the recent average of 25 a day [inc sundays and Bank Hols].

So approx £44k worth.

[hillofwad] 14/6/2016 12:57

Like others, Bricks are taking on very few instructions at the moment .The difference is that others havent made the wildy optimistic forecasts that Bricks have made of increasing their share of the market Move to profitablity is starting to look like a very distant speck on the horizon

[bamboo2] 12/6/2016 21:10

dice, your link is behind a paywall/subscription wall

[dice1950] 12/6/2016 20:36

Purplebricks Group shares were a ‘buy’ in the Sunday Times’ Inside the City column.
12th June 2016

[dice1950] 12/6/2016 20:36

Purplebricks Group shares were a ‘buy’ in the Sunday Times’ Inside the City column.
12th June 2016

[hillofwad] 12/6/2016 19:06

Lets wait to see the figures but I havent kept an anorak total but wont be far wrong at around 2,300 pcm since launch Currently the total is 14,000 including those sold subject to contract and thats probably around 6 months worth The 5 currently listed in my patch 2 of them have been on unsold for over 6 months The fact that my expert is 50 miles away speaks volumes etc They havent managed to secure enough instructions to warrant a local expert So far away from achieving any critical mass Good luck with your holdings I think you might need it especially with the opposition moving in

[prewar] 12/6/2016 18:23

I'd suggest your experience is making the Bricks policy more adept, why bother having an agent worry about a tiny village when they can concentrate on locations where critical mass exists? Leave this stuff for the dinosaurs.

I think we've also established that you don't know their monthly targets which you assert they're not on track to meet.

[hillofwad] 12/6/2016 17:40

No but they have to be able to value know their patch be au fait with developments in the locality and recognise a defect when they see one My expert is over 50 miles away and barely heard of the village I havent kept the numbers but a watching briefbut it seems they have averaged out less than 2,300 pcm since listing which is below Septembers figures

[hillofwad] 12/6/2016 17:40

No but they have to be able to value know their patch be au fait with developments in the locality and recognise a defect when they see one My expert is over 50 miles away and barely heard of the village I havent kept the numbers but a watching briefbut it seems they have averaged out less than 2,300 pcm since listing which is below Septembers figures

[prewar] 12/6/2016 17:05

Hill, you make it sound like EA have to be brain surgeons, ex mobile phone salesmen seem an ideal fit.

Can you share the month by month number of instructions that Bricks haven't met please for the current FY? A total number for the year won't cut it btw. TIA.

[hillofwad] 12/6/2016 15:45

Prewar Yes I think I do and it seems since the flotation the number of instructions have plateaued and below expectations . I think the hybrid idea is good and the fact that Savills a listed agent has thrown their hat into the ring means its on the addenda for the whole industry You recognise that Competition is is hotting up and Brick isnt the only game in townI agreewith you wholeheartedly I think they will learn to regret their approach to appointing "experts" A week long course in Teach yourself propety for ex mobile phone salesmaen can only end up in tears and some expensive laws suits Hybrid is here to stay Its usually the second big entrant who enters the disruptive market later wins the prize i dont short I spread betvand currently not invested

[dice1950] 12/6/2016 13:00

The Times Purplebricks (PURP) : welcome to the house of fun
12th June 2016

[prewar] 12/6/2016 11:51

Averages aside? Do you comprehend the concept of a growing business?

Love the trying to quell criticism comment, do you think estate agents are loved by all? Except for politicians possibly one of the most hated bunch of crooks going, am sure you'd find adverse comments against any EA online.

The traditional model is dead, other hybrids may be more successful than Bricks but the extinction of the dinosaurs is fast approaching.

Post your shorts when you make them....

[bamboo2] 12/6/2016 08:26

The article mentions revenue forecast at £18.5m

Average income of £1080 per property suggests that 17130 properites need to be listed to achieve the f/c. Approx 47 per day. The rate of sign-ups varies greatly from day to day. The average over the last three weeks is approx 25 per day.

"Anthony Codling, an analyst at Jefferies, has argued that “the model as it stands encourages sub-optimal behaviour”, rewarding listings over sales by requiring payment upfront rather than on completion"

Payment upfront is an essential part of the PB model. This ensures qualified and committed sellers and reduces time wasters to zero.

Buyers can be pretty certain that it is unlikely that the prop is going to be pulled from the market after they have invested their time and money in the buying process.

[bamboo2] 12/6/2016 08:04

bbd, in the article it says,

"The company has not said how many homes it has sold, unlike other listed estate agencies."

Perhaps Jefferies International should be considering the future of their so-called 'equity analyst' Anthony Codling, because this information is in plain view, on the PB website search feature.

The figures in post 43, then 45 provide this info on a recent historical basis. [date in brackets]

The first figure is a UK wide search of PB, the second includes sold. A simple calc then required to see a snapshot of how many are sold. I'm not sure how useful the second figure will be when and if they start delisting sold properties.

Both figures are in a constant state of flux, but the recent trend does indicate a slowdown in the pace of sales, a slowdown that is echoed on Rightmove.

[prewar] 11/6/2016 19:35

Hill, you clearly aren't objective when it comes to Bricks although comparably eloquent to some of the other dimwits who frequent this thread!

An average is exactly that, you might expect a growing business to increase the number of sales month on month rather than as you seem to be expecting them to ramp up to 120 per day on the first day of the financial year.....

[hillofwad] 11/6/2016 11:44

Bamboo Yes I do apologise you said £200k since begining of June which is less than 20 instructions per day which is well below expectations I think that figure iss wrong and probably about £900k which is about 80 per day which is still well below their forecast for this year of 120 average meaning a greater loss for the year than anticpated I was wrongfooted by the bullish tone of your post Unfortunately the saturated TV campign hasnt stoked up the rise expected

[bamboo2] 11/6/2016 09:17

hill, I'll spell it out...

You got the earlier maths wrong.

You need to go back and look again at the posts.

[dlku] 11/6/2016 08:09

Spending £5m on TV advertising to get £500,000 of income. LOL

I work that as a £4.5m loss.....


Wont be long before they run out of money

[hillofwad] 11/6/2016 07:56

Leaving aside the average fee per instruction If you read the Hardman report which accompanied the listing it was forecasted that they would take on board 43,000 instructions for this financial year .Averaging out thats over 120 per day and still bringing in a loss. They are currently well short of that figure Unless of course they havesuddenly moved into new territory in June@200 per day according to your figures which I dont believe

[bamboo2] 10/6/2016 20:27

hill, are you suggesting that PB have to take on 365 x 100 instructions this financial year?

Do you need me to do the maths?

Have you definately checked your earlier figures?

[bamboo2] 10/6/2016 14:22

hill, what is your figure for this financial years annual target?

[bamboo2] 10/6/2016 14:19

"The average Purplebricks fee including all other sources of income is circa. GBP1,080"

from recent interim report