As the largest online estate agent, you’ve probably already heard of Purplebricks.
However, despite being the largest, they are also one of the most controversial. In particular, some of their reviews on Trustpilot have come under question, while their payment practices have also attracted criticism.
However, they continue to lead the way (by some distance) as the most successful online estate agent in terms of market share. They also boast being ‘the most reviewed estate agent ever’
What They Offer:
Unlike many of their competitors, Purplebricks have (so far!) resisted the move towards offering a no sale, no fee option. The nearest you can get is a ‘Pay Later’ option which is essentially a credit agreement for the upfront fee.
Here’s what you get as standard:
- A dedicated local property expert
- Professional photography, floor plan and listing
- Advertising on Rightmove, Zoopla, and more
- UK-based support open Monday to Saturday
- Management of everything via an online portal
- Sales progression help through to completion
So, as you can see, they don’t differ too much from other online agents. In fact, they don’t differ too much from high street agents too.
Purplebricks are very much geared up as being the full service you’d get from a traditional agent but without the commission.
Of course, whether you’re happy to pay upfront is entirely down to you. Yes it saves you money but it doesn’t guarantee you a sale. If your property is struggling to attract a buyer, you won’t get any refund on the fee.
How It Works
Like the vast majority of online estate agents, the process of selling a property with Purplebricks is fairly straightforward.
First, you’ll need to request a valuation. This is free and gives you a chance to meet someone from the company and ask any questions you have. Following this, you’ll receive a full valuation report. This will tell you how much you could expect to receive for your property and any other details you need.
If you decide to instruct Purplebricks, you’ll need to make the payment of the upfront fee. This can be deferred for at least 10 months and it’s the same price as paying upfront. However, you will need to pay it even if your property doesn’t sell.
Once your property is on the market (your agent will do all the hard work creating your listing), you’ll be able to manage everything through the online portal. That means your viewings can be arranged and offers negotiated at a time that suits you – no more waiting for the agents office to open!
Your local expert will be able to help negotiate once you start receiving offers. As soon as you accept an offer, there is a Post-Sales support team to help ensure everything moves to completion as smoothly as possible.
How Do They Use PropTech?
Purplebricks is classed as PropTech company because the software they use helps sellers manage their viewings more independently than you may get from a traditional high street agent.
This is something which is quickly gaining in popularity. In fact, many high street agents are now starting to mirror the online offering, particularly when it comes to online management.
As mentioned at the start of our review of Purplebricks, they have attracted a fair amount of attention for their customer reviews. They actually have really good reviews for the most part, but in some places they attract a lot of negative reviews, leading to question marks over how much they are having bad reviews removed.