Purplebricks Share Discussion Threads

[kmann] 25/1/2017 10:41

How many times have we seen companies get clobbered by "accounting errors". Even BT not immune to that.

[kmann] 25/1/2017 08:20

Is someone suggesting revenue recognition is equivelent to another Ennron? Kind of revelation the shorts go after .. if proven.

[croasdalelfc] 24/1/2017 08:36

I'm more interested in Aussie growth as that will be the driver for the next two years or more. I make it about 25 listings a week from Brisbane and Melbourne with Perth and Sydney to come.I would 80-100 listings a week by end April. Or about £1m a month

[hillofwad] 24/1/2017 03:46

Boofay

Bricks go to considerable lengths to hide the true number of new instructions they are taking on .This month instructions are back on song again after a very poor December However!

For example on Zoopla you can count the number of instructions they have "just added" on adialy basis However all is not what it seems as they sometimes take properties off called a"marketing break" ie they are having difficluty selling the house so lets pretend its a new listing as this chat with Bricks reveals

Leila] Welcome to Purplebricks. My name is Leila, may I take your name please?
[Visitor] Tom General question just looking at 2 properties s on Zoopla which have appeared as”just added” Does that meanthey are entirely fresh and havent been listed before by you ?
[Leila] Hello Tom, if they have just been added, this means they have just been listed as new on the webite
[Leila] website*
[Visitor] so definitely havent ben listed before and not some minor changes in the details/price?
[Visitor] so the words just added mean exactly that?
[Leila] It can be either, they may have been on a marketing break previously and have returned to the market or have newly come onto the market.
[Visitor] so just added doesnt mean just added then?
[Leila] It can either mean the property has just been added onto the market or if the property has newly come back onto the market after having a marketing break.
[Leila] But this will be a new listing.
[Visitor] Thanks

[boofay] 24/1/2017 00:33

rubber i think you sign a 10 month credit agreement. so if you don't sell or cant sell, the finance and payback kick in after this time.

purple get paid upfront by the finance company....I still cant quite believe they have the front to run such a business. and irony is they are trying to fakenews the real industry that provides a full service

[lampran] 23/1/2017 17:51

PURP advertising on LBC, seems like a pretty good idea to me.. Any idea how expensive it is to advertise on LBC anybody ?

[rubberbullets] 23/1/2017 07:18

Is this Right?


questionmark over revenue recognition policy

theynow let you market prioperty on their site but dont pay until proprty sold which can be many many months or year later.


bit of a problem if they recognise upfront

[boofay] 22/1/2017 21:55

in uk 1.2 million houses sell a year, . if they get 10% of those they will hit peak oil at £107m income.

[boofay] 22/1/2017 21:52

Its also about service though not just sales. The real skill comes in keeping the sales together and keeping everyone from going crazy with stress. Calling a head office is last thing clients want when ned answers.
purplebricks model is based on propaganda and no depth..we'll see in time what the end user really wants. i know buyers aren't to impressed already. but hey they don't pay the fee do they....

[croasdalelfc] 22/1/2017 14:22

I now make it 50 LPEs in Australia with 13 of those in Sydney

[croasdalelfc] 19/1/2017 16:48

Hillofwad - thanks for that.

On the Aussie websites you can drill down to the individual LPE - to see what they have sold, how much, the type of sale, type of property and how long the average sale took. This takes away some of the leap of faith of paying upfront.

I'm guessing sellers can't do this in the UK.

I make it 45 Aussie LPE's at the mo - the target is 50 I believe though the timescale for that is unclear.

[hillofwad] 19/1/2017 15:44

Croasdalfed- Yes thats because they are able to remove all the negatives ones unless you can prove beyond reasonable doubt you are a customer . So all those who have unpleasant experiences and cant produce an invoice they can boot into the long grass All the unverified favourable ones are left alone -surpise surrpise

Its amzing how many of their reviews are single customer reviews . The reviewer so moved by purplebricks exemplar service they feel inclined to review yet dont bother on any other company they come across !

[croasdalelfc] 19/1/2017 14:34

Weird ! As they get 9.5 out of 10 on Trustpilot

[lampran] 19/1/2017 14:05

People will see Purp for what it is eventually, it's not all it's cracked up to be. They take the money upfront then you're on your own. Might as well sell on gumtree

[hillofwad] 19/1/2017 13:48

Yes I agree 100 listings a week by April would be a job well done

[croasdalelfc] 19/1/2017 13:40

6 listings and 1 sold in Aussie yesterday ....Initial target must be something like is 100 listings a week by April with 20 sales a week.. Let's see

[croasdalelfc] 19/1/2017 13:34

Daily mail Australia :https://www.google.co.uk/amp/www.dailymail.co.uk/news/article-4123374/amp/Purplebricks-sells-house-HALF-price-big-agencies.html?client=safari$11,800 saving

[hillofwad] 19/1/2017 12:29

I know tick all the boxes including fat fingers -apologies .Nufin rong wiv my spegging Guv

[prewar] 19/1/2017 12:23

"When I checked our advert I had to correct numerous spelling and grammar mistakes!"

Congratulations Hill on your appointment as a Bricks LPE, hope you get some equity could be worth a fortune in a few years.

[hillofwad] 19/1/2017 09:11

Yes they have upped their ante since Xmas According to Zoopla they took on 175 new instructions yesterday which is probably one of their best days they need to mind to pay for the new TV campaign and the low instructions level in December The problem is they are opaguew -a number of this are rehashed and nt actual fresh instructions/revue

The problem is they are taking longer to shift which means more time spent in admin
One issue to think about is if the Govt are slapping down on tenats letting fees whats to stop them banning Bricks from collecting a fee without a sale

Pity this poor vendor who has had this on since March 2015!!
hxxps://www.purplebricks.com/property-for-sale/4-bedroom-detached-house-aberystwyth-21385/#
or this recent review on Trustpilot

Diabolical service.

Put property up for sale on 11th Nov 2016 and had one viewing over 3 months. That viewing was someone who wanted to just check out ours as they were selling round the corner!! Our property expert Emma Poland had all the banter and we felt so positive! When I checked our advert I had to correct numerous spelling and grammar mistakes! We have had 2 property reports which literally just say what we can find out from the app! I emailed several times to ask questions...no response! She may as well not exist! I have just asked to remove our property, no response! I will be challenging the fees, they have done NOTHING!

[au24] 19/1/2017 08:57

Seeing lots of boards out in front of properties for sale:)

[croasdalelfc] 18/1/2017 12:29

My research says 148 properties sold in Australia with 304 for sale.

@ £5000 a sale gives £740,000 revenue plus potential £1.52 m from those for sale.

I have factored in £3.4m revenue from Australia up to April 17 so if I am right its a very good start.

[croasdalelfc] 17/1/2017 09:03

Am I right in saying one Aussie contract is worth 3 UK contracts and just 5000 Aussie contracts a year would add 50% to current revenue