Purplebricks Share Discussion Threads

[hillofwad] 22/11/2016 15:49

hxxp://www.cityam.com/254038/city-am-meets-purplebricks-chief-executive-michael-bruce

This boy certainly can deliver the blarney Love the way he twists the fee being paid up front as somehow the expert can concentrtae on offering a good service rather than say thanks very much you are now on you ronio whilst I go and schmooze some over new punter

The bit about seeing the light as an entrepreneur and realisng above all else the customer comes first whilst waltzing off with £20m plus beforethe dice was even thrown.Flim Flam man

[larva] 22/11/2016 15:30

12p cash isnt much

cant even go and buy a kebab with 12p

[larva] 22/11/2016 15:29

is this one finished

[mega_trader] 08/11/2016 14:01

12p cash, burning £1mil per month, launching in to an austrailian property bubble thats about to pop. Good luck to them.

The property specialists must be pretty fed up imo, wish they had a real job.

[abarclay] 07/11/2016 22:01

Heading to 15p

[shaunstar] 03/11/2016 18:24

Well id say thats closed below key support. Ive increased my short position.
Shaun

[hillofwad] 29/10/2016 08:27

I have copied and pasted a comment from a poster on Property Eye which sums up the situation accurately

"" Here’s my take on PB right now:

I’ve just counted their Zoopla new instructions over the last month: hxxp://www.zoopla.co.uk/for-sale/branch/purplebricks-head-office-solihull-58933/?page_size=500

I counted 2,476 new instructions (this number is falling each month and is a lot less than they have previously quoted hxxp://www.propertyindustryeye.com/purplebricks-getting-closer-to-profit-as-ceo-reveals-new-listings-of-3000-a-month/).

Furthermore, on PB’s website I count 358 LPEs: hxxps://www.purplebricks.com/search-local-expert?ref=header

This works out at an average of 7 listings per LPE a month (assuming none of the 2,476 are juggled properties).

I understand that the majority of LPEs get £150 per listing (£200 if they are a Territory Owner. Territory Owners also get £50 for each of their LPEs listings). So, through my calcs the vast majority of LPEs are getting on average £1,050pcm (7 listings * £150) from listings. They make some other small amounts from viewings and conveyancing referrals but from what I understand this does not account to much.

They have to pay for their own car, fuel, car insurance, phone bills, PI Insurance, someone to do their books and have zero paid holidays.

Quite a big difference in earnings compared to what they stated in this article: hxxp://www.propertyindustryeye.com/purplebricks-in-huge-recruitment-drive-for-local-property-experts-across-country/

Plus, I am told they are expected to have their diaries open 7 days a week (with weekends a must) and receive a number of compulsory daily tasks to complete (vendor calls, pre-valuation calls, listings to create, etc.) No wonder their LPE turnover is huge!

Prior to their IPO Hardman produced this report containing projections: hxxp://www.hardmanandco.com/docs/default-source/company-docs/purplebricks-group-documents/purplebricks-dec15

This report projects PB to do 43,000 (3,583 a month) instructions in 2017 after doubling their LPEs to 310. PB currently have 358 LPEs on their website and appear to been listing 2,476 a month. This doesn’t bode well for 2017.

Why, after doubling their LPE count, have the new instructions not doubled? I would say this is down to stock levels. They have a combined stock amount of 9,653. 9,653 / 358 LPEs = 27 properties for each LPE to look after.

When PB first launched, their LPEs spent the majority of their time winning new business in (as they had little existing properties). Now their LPEs are being weighed down by stock levels (dealing with viewings, offers, vendor calls, etc.) and have less time to focus on new instructions. I see difficult times ahead for ".


At the moment, if an LPE leaves a territory and a new LPE takes over the patch. The new LPE is expected to pick-up the stock that the previous LPE listed.

As far as I’m aware the new LPE will not be paid for this as PB have already paid the original LPE to bring the property on the books. Imagine having to work for free to try and sell a property where the previous guy has taken the money and ran?

If I’m right and the average LPE is bringing in £1,050pcm. With all the hours they are doing are they now entitled to minimum wage?

[hillofwad] 19/10/2016 07:50

The irony is that Oz seems to have kicked off ok especially as the fees are double that over here 137 instructions of which 17 are already SSTC with 30 experts on board

[tattooed93] 19/10/2016 07:33

just cant get over 10,000 and winter months will see it plunge

[hillofwad] 19/10/2016 07:26

AS of today 9777 .Must be selling well!!!

[tattooed93] 18/10/2016 22:34

Looks like a placing is on the way...

[larva] 18/10/2016 18:31

MUST BE RUNNING OUT OF CASH

[hillofwad] 17/10/2016 09:43

Current instructions as of today -9809 and 18,207 to include SSTC Seems to be a barrier of 10,000 still below threshold of hitting a profit Current valuation looking very speculative


hxxp://www.propertyindustryeye.com/we-sell-88-of-instructions-within-ten-months-purplebricks-boss-says/

Looks like they are also giving back a part of their fee!!

[hillofwad] 17/10/2016 09:22

The market has conspired to ensure that Bricks doesnt turn in a profit this year

[hillofwad] 17/10/2016 09:21

Just look at their website and compare it to Bamboos last figures

[kdr246] 17/10/2016 08:07

Is there any more clarification on the numbers please?

[hillofwad] 15/10/2016 07:35

Bamboo

Looks like the figures for October have come to a shuddering halt!

[hillofwad] 06/10/2016 05:33

Bamboo,

It does look from your figures as if they have taken on about 3,000 in September IMO it seems that since April the rate of increase of instructions has slowed considerably especially as they have added further LPE,s to the workforce I think the BODS have recognised this which has prompted them to increase their fee levels in an attempt to meet the expected shortfall to push them into a profit position

They seem to be very much at a tipping point

[bamboo2] 05/10/2016 20:10

Looks to be attempting to break out to the upside

[bamboo2] 05/10/2016 20:05

............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

28 Aug. 16 9259/16561
06 Sept 16 9456/16961
12 Sept 16 9722/17307
25 Sept 16 9830/17801
05 Oct. 16 9868/18078

[larva] 05/10/2016 07:04

Let the dumpoing begin


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 132,634 ordinary shares of GBP0.01 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 GBP0.01 per Ordinary Share.


pay a penny and sell for 134p


NICE

[hillofwad] 05/10/2016 06:52

I havent Its Bamboo who does all the heavy lifting on figures September looks to me like under 3,000 in UK Australia is doing ok as of today they have 30 LPES taken on 75 instructions and already have 7 under offer/sold STC They kicked off in August so fair does to them The fees are double that here and there is also a time lag between inspections and listings as there is a form of contract to undertake so the current level is not a true indicator of pipeline

Its home they should be concerned with

[prewar] 04/10/2016 22:28

Hill not seen Septembers instructions, please post numbers.

I think we all know the website figures that somebody posts don't give the full picture but you've normally got the inside track on such matters.