Purplebricks Share Discussion Threads

[andy] 12/7/2017 10:31

ddav,

No idea where you live, but where I am they have always worked on the pressure points, "three more viewings later today sir", "will be gone by tonight at this price", that sort of thing.

They work on your fear of losing out.

[ddav] 12/7/2017 10:13

Well,
computer screens don't talk nor do AE's/EA's walk the walk in my area.
They spend a lot of time looking at screens they'd be more useful pulling levers in a signal box.

[andy] 12/7/2017 09:50

Rog,

"valuation needs a 'local expert' who undertsnds the area and comparables, properly"


I agree with this, local knowledge is vital, as is the selling techniques (pressure) they use to push people over the decision line.

A good AE knows the levers to pull to arrive at a favourable decision, something a computer screen will never be able to do properly IMO.

[rackers1] 12/7/2017 08:22

up up she goes lol

[rogthepodge] 11/7/2017 20:06

buywell311 Jul '17 - 17:51 - 1105 of 1106 0 0
Zoopla knows so who needs agents

Chart is know a double header


Zoopla's algorithm certainly doesn't work valuing my gaff

way off

valuation needs a 'local expert' who undertsnds the area and comparables, properly

there is a heck of a lot of guff being spouted on this thread

[cheshire pete] 11/7/2017 19:40

Just seen the PURP advert on ITV3, the one with the guy pouring milk over himself. lol.

[buywell3] 11/7/2017 17:51

Zoopla knows so who needs agents

Chart is now a double header

[rogthepodge] 11/7/2017 17:47

and you know exactly what your house is worth Lydnem/ElCapital?

assuming you still own one

[lydnem] 11/7/2017 17:17

I know this can be done for £99 and £49 a month on a self managed basis advertising on the major portals

[andy] 11/7/2017 17:15

Rog,

One of my local AE's is already quoting a fixed fee of £775.

In a falling market where a sale (at the desired price) may not be achieved, I see the traditional commission as being more attractive, even if it costs a tad more.

Many people are asset rich (through their property) but cash poor.

[andy] 11/7/2017 17:13

bamboo2,

I agree, they will cut their charges to the bone, and that may well be negative for PURP, IMO.


If the market gets sticky I see the 'pay afterwards and only if the house sells' being more popular than 'pay upfront and you may not achieve a sale but you can't have a refund'


It will be interesting for sure.

[bamboo2] 11/7/2017 15:20

Falling prices will have an effect.

They will reduce traditional High Street EA's commissions.

[rogthepodge] 11/7/2017 14:24

first mover advantage

and if I was selling in a falling market, I would be looking to save money

[andy] 11/7/2017 14:17

Hydrus11 Jul '17 - 08:37 - 1091 of 1097 0 0
The investment case isn't about short term direction of the housing market.

-------

I think it is actually, if house prices continue upwards I think PURP will do well, but if they fall they may not, due to the upfront payment putting off sellers who may not be able to sell.

And competition is already adapting and new players arriving.

[buywell3] 11/7/2017 13:50

All PURP are doing is advertising their properties on Rightmove website

Plus I have just been looking at the USA , Thousands of foreclosure auctions now taking place

And USA house prices are falling once again

The UK market follows the USA a year later,

[rackers1] 11/7/2017 13:50

but lets remind everyone you lost yer cods on NLG and currently throwing money out the window here too

lol

[lydnem] 11/7/2017 13:47

Yet again we have to remind numbnuts that there is no comparison between PURP and rightmove.....oh dear

[rogthepodge] 11/7/2017 13:41

Uncle_Sam

Very true. PURP could be bought out or even out-competed by a big hitter in the future.

But people would have said the same about Rightmove as it was establishing itself.

PURP has a massive market share currently in the online agency business. Surely that is telling you something?

Investment is about weighing up risk / reward.

[uncle_sam] 11/7/2017 08:58

rogthepog, PURP was not the first in this space but they may have the highest visibility, at least among investors. They are a copycat operation, I believe; I think someone called House Network was first no frills EA. First mover advantage can be technical or financial. Doesn't mean it will last. Look at Lotus 1-2-3, or WordLperfect, or, more recently, look at Uber. They are mostly just money, muscle and hype. But time, and the fickle nature of customers, will tell ...

[hydrus] 11/7/2017 08:37

The investment case isn't about short term direction of the housing market. It's about whether longer term PURP will dominate online/hybrid sales and whether online/hybrid sales will displace traditional estate agents. I think it has a very good chance.

[buywell3] 11/7/2017 08:17

Average house price at 7.6 times annual salary, official figures show

In 1997, house prices were on average about 3.6 times workers’ annual gross full-time earnings.

Rising house prices now stand at an average 7.6 times the average annual salary, more than double the figure for 20 years ago, according to official figures.

However, the new headline figure disguises dramatic regional variations. In the affluent London borough of Kensington and Chelsea, house prices are typically 38.5 times greater than annual earnings


An accident waiting to happen


The Two Towers of Mordor chart is now complete

[bamboo2] 10/7/2017 22:55

One local branch of a well known High Street EA in our area has overheads of £35-40 a month. K.

[rogthepodge] 10/7/2017 22:32

anyone could copy Rightmove, surely?

but it had first-mover advantage, and is now the main trusted brand

it will be hard to catch, and would probably have to be bought by a big cheese
wanting to get into its market

the same MIGHT apply to PURP if it continues the way it is going