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PURP Purplebricks Group Plc

0.31
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Purplebricks Group Plc LSE:PURP London Ordinary Share GB00BYV2MV74 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.31 0.28 0.34 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Purplebricks Share Discussion Threads

Showing 551 to 575 of 14200 messages
Chat Pages: Latest  28  27  26  25  24  23  22  21  20  19  18  17  Older
DateSubjectAuthorDiscuss
28/8/2016
10:16
tps, hi thanks for making the effort to contact the co. I have been away, so have been short of time to make a reply.

There are a number of question marks over this de-listing idea since I am able to find props sold by PB, that were first listed in 2014.

Why would they de-list some and not others?

Rightmove and some of the other prop portals maintain historical info for years.

bamboo2
25/8/2016
10:41
"overvalued' and some!

Maybe the reason that the sp, is up today is that some idiot misunderstood the article in the Mail or Telegraph? (Can't remember which) about House Builders facing a shortage of bricks!!!

eggbaconandbubble
25/8/2016
09:58
What should concern investors in this overvalued business is the reaction of high street agents . I have been quoted 1% sales commission on two residential development projects recently which given the additional attention a local agent gives on a buyers market is good value.
dresdenis
25/8/2016
09:09
Recent review on Trustpilot really says it all lettings fees are uncompetitive so its not surprising this hasnt taken offfor Bricks In a more challenging market place more creative selling required than just an expensive advert and having to pay upfront on a hope and a prayer Certainly arole for Brick but its been ultra hyped and certianly hasnt met expectations

"I did look at the reviews before I decided to go with purple bricks and the massive swing on deciding to was the fee. I met with the local property expert who seemed to know his stuff telling me previous Estate agent jobs he had held in the area. As I was asking the top amount for my property I did sign up for the extra viewings and a premium listing. My first disappointment came when it turned out my LPE was not going to be doing the viewings but another lady I had never met. My open day had just one viewing and on the advice of my LPE I reduced the price of the property. Another very similar property had sold on the same road while mine was reduced and still waiting for viewings. I was going to sell with this Estate agents who had just sold that property and 15 mins after I reduced my property the manager called me. I didn't answer as I knew he was going to tell me he could have sold it for the full price, and I'd have believed him. It's been up 6 weeks with a total of 3 people seeing it. Now I realise how Estate agents earn their fee. They motivate people to come and see your property, some thing purple bricks cannot do. Thinking back to when I have phoned Estate agents to view a property they not only offer to show me that one but can arrange a few viewing of similar houses. This is the art of selling which you don't get in the call center or online when they book. When the house didn't sell the best advice you get is to move the pictures around and then drop the price. I don't think that would have been the case if I had gone with a high street agent.

So I've decided to keep it and let it out as I was not prepared to go lower with the price and enquired about purple bricks letting fees. They were quite similar to the high street so I said as I've been disappointed in the company and their fees are quite similar to the high street I might go there instead. She suggested the fee may be movable to the lettings department. She would let me know and get back to me. This was on a Tuesday morning. By the Friday afternoon I hadn't heard anything so I called and she told me head office hadn't got back to her and she would chase them. She eventually got back to me a week later saying the fees were transferable. I wanted it in writing before I committed I'm still waiting for that letter. Also my viewing agent popped the key to a local estate agents so they can look at letting it for me. She posted the keys though the letter box and left over night with the tag clearly in view with my address in it. A little common sense would come in handy I think.

Even though it will cost me another 700 pounds I have decided to use my local agent for letting as I've lost faith in the company. Oh yes and I get to hand a grand over to purple bricks, this I am not happy about but I knew the gamble I was taking when I signed on, I just didn't realise how the odds weren't stacked in my favour."


M

hillofwad
25/8/2016
07:21
x looks finished to me
betelgeuse1
23/8/2016
10:28
In order to hit profit which the Hardman report accompanying the float forecasted this year they need to average out 3,500 instructions pcm They are way off that .To give you a snapshot in my local town they have had 8 on since start up 2 sold .1 by the vendor direct without paying Purp! 2 of 6 currently being market were listed in June and August 2015 -over a year !!! certainly puts pay to their boast the buyer is found within 14 days of listing The lettings side has been a complete flop
hillofwad
18/8/2016
14:34
bamboo2, spoke to company who say that the Incl.Sold button on the website is just STC and that once completed they are de-listed. This fits with my feeling/calculations that there are missing properties from the website total. Just looking at the last 2 FY which s virtually the same as since inception [FY15+FY16= 25.5k instructions less (For Sale +Incl.Sold from Website c.12.5k (my est Apr'16)= 13k missing. Broadly speaking historic instructions are 2x the net change in the website total. On recent weekly averages this would suggest c.80/day vs the tracked c40/day. I tried estimating the completion rate more accurately using the 56 day avg time to complete they gave in the slides. This seems to produce too high a number- even when I adjust for failed transactions that relist as For Sale or de-list after 12m. I will keep tracking the figures on a weekly basis but guess I will only know if I am right when they next publish a pcm figure. Best.
the prudent student
15/8/2016
13:04
Purplebricks Group plc (AIM: PURP), the hybrid estate agent providing a new way to buy, sell or let property, announces that options to subscribe for 162,413 ordinary shares of £0.01 each in the Company ("Ordinary Shares" and the "Options") have today been exercised by certain employees. These options were granted prior to the Company's IPO and have an exercise price of £0.1293 per Ordinary Share.



Cheap shares, free shares, come get free cheap shares
about to flood the market imho

abarclay
15/8/2016
06:24
https://www.ft.com/content/5e401453-468f-3262-b30b-5195216213a2Rightmove confirming that there has been a slowdown in sales and a small reduction in prices over the summer. Seems mainly London + South East but that is what you would probably expect. Matches up with the above figures which have definitely dipped sub 25 listings a day from over 30 before the referendum.
the oxford whale
13/8/2016
11:16
............total/inc sold
27 June 2016 7869/14089
27 July 2016 8747/15612
Balances..... 878/ 1523

07 July 2016 8206/14796
06 Aug. 2016 8918/15843
balances..... 712/ 1047

Post brexit figs to today

10 July 16 8300/14924
13 Aug. 16 9057/16129
balances... 757/ 1205

bamboo2
13/8/2016
11:00
tps, really useful to have your input. Precisely how these bboards should be used.
Thanks for sharing your thoughts.

bamboo2
12/8/2016
11:38
They claim 77% sales conversion assuming those For Sale as of March 2016 all sell. This means 23% fail to sell and 25k x0.23=c6k so this explains where 2/3 of the missing 9k are. That leaves only 3k missing which is only 12% of cumulative instructions and I can live with that level of uncertainty. Upshot is that the net change number you are tracking should be an accurate measure of real transactions +12%. Good news for the bear case- no transactions= no operating leverage = cash burn=equity raise. Apologies for going round the houses on this- thanks for your help.
the prudent student
12/8/2016
10:55
bamboo2, thanks for the tip. You are right, some of the 'For Sales' date from 2014. Not sure why anyone would failed to sell with PURP would rollover for another 12m but assume this would count as a new instruction and generate a fee although not increase the total For Sale. All the Incl.Sold I checked had been removed from RMV indicating that you are correct in that PURP are not de-listing all the props once Sold from the total number. But if I take a step back for a minute. They claim in the last 2 years to have generated at least 25k instructions (Calculated as Rptd revenue/avg.rev per instruction given in the releases)and yet the website has only 16k, so where are the other 9k? They must have been de-listed or my 25k calc is wrong. What do you think?
the prudent student
11/8/2016
22:28
tps, interesting how we see things differently.

PB search has a useful filter. One of which is 'most recent'.

I suggest you do a search, then go to the last few pages, which give the oldest listings. Select a few properties at random, then type the corresponding postcode into Rightmove. RMV gives the date the listing was added. There are props that are both sold and unsold going back to 2014. This suggests to me that PB are not currently delisting sold properties.

bamboo2
11/8/2016
09:13
As I read it the website gives two numbers (c.9k and 16k). The first is For Sale c9k the second (c16k) includes the For Sale (9k) + those that are For Sale but STC (c7k)to give the Total 16k. The STC are not "Sold" they have an offer but are simply in the process of selling. If they do not exchange contracts the vendor is back to square one so they can just remove the STC marker and it moves from the STC bucket to the FS bucket. The key is that the FS+FS incl.STC Total (ie the 16k) doesn't change.

I have been short in the past but not now. I thought I could use the website to track the instructions but the de-listing amount is potentially much greater than the net change FS+STC meaning they could be doing c55-165/day which is too great a spread vs c100/day required for H117e consensus. If I knew if it was 55 or 165 could position accordingly.

the prudent student
11/8/2016
08:26
Hi tps, re,

"Failure to exchange contracts would simply result in the listing moving from STC to For Sale but would not change the total."

I would have thought if a sale fell through, it would no longer be considered 'sold stc' therefore would no longer appear in the 'sold' search total. The property would return to the 'for sale' search.

What you say is interesting and food for thought. Do you have a position?

bamboo2
11/8/2016
06:16
how much cash left?
abarclay
10/8/2016
23:54
Failure to exchange contracts would simply result in the listing moving from STC to For Sale but would not change the total. Complete inability to sell could see the client remove the advert but then why would they when they have paid up front. It seems reasonable to assume that once sold the advert is taken down. At the FY they claimed a 77% sales conversion on instructions since inception. I don't have the For Sale figure for April 30th but estimate it was c.6500 which implies they had generated c28k instructions since inception (6500/1-77%). Looking at their disclosures in the past 2 FY I can get to 25k. Yet the For sale incl.STC is currently 16k and in April was probably nearer 13k so c15k properties have been delisted (sold). We know they will delist after contractual 12 months so with 7k STC c18/day min needs to be added to the net change in Total For Sale incl. STC. Using my 56 days adds 125/day. Were you tracking the data back in April? If you have the Total FS incl. STC March 30 & April 31 then we can check vs disclosed 97/day.
the prudent student
10/8/2016
21:19
tps, I have kept a close eye on the figures. I am reasonably sure that none have been removed or delisted, but could be wrong.

Only two or three times, in as many months, has the larger of the two figures shown a small decrease. I put this down to sales that have fallen through. I assume that these failed sales then return to the 'for sale' figures.

This happens for all sorts of reasons, such as chains breaking, failure to obtain mortgage finance etc.

I guess there will come a time when props are delisted. Quite a while ago I cross referenced sales for validity on the PB website with RMV website, but it became too boring and time consuming!

bamboo2
10/8/2016
18:17
Hi, the website only shows the NET change in STC so it ignores those STC which de-list after completion (I was looking at the totals in the morning and evening one day and noticed the total fell). There are c.7k STC currently. These will de-list after completion which probably takes another 8 weeks on average(56 days) from the point it goes STC. So in theory every day 125 properties (7000/56=125) de-list and you need to add this to your net change in STC which you are tracking. You can play about with the 56 days but it explains why you think they are doing c.35-40/day now vs the 97/day released in May despite the higher LPE count. Let me know if you think I am wrong.
the prudent student
06/8/2016
11:42
Oh you mean the profit warning? Fundraising?
dlku
06/8/2016
11:25
Any idea when they are going to release a trading update? I see the last set of results was up to 30 April, so if they are going to do a quarterly update there should be something out soon?
the oxford whale
06/8/2016
11:07
Hi TOW, yes agreed it is slowing. This could be down to seasonal or other factors such as Brexit.

I think September figures will be key, for reasons mentioned earlier.

Cheers

bamboo2
06/8/2016
09:51
Looks like listings are actually slowing then? Only 23.3 listed a day over the last 30 days. In fact if you look at the last 10 days it is only 17.2 per day. Doesn't bode well imo.
the oxford whale
06/8/2016
09:12
............total/inc sold
27 June 2016 7869/14089
27 July 2016 8747/15612
Balances..... 878/1523

07 July 2016 8206/14796
06 Aug. 2016 8918/15843
balances..... 712/1047

bamboo2
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