Purplebricks Share Price (PURP)

I think Lettings is going one way only and that is down the pan. According to my search they’ve only got 375 properties available to rent throughout the whole of the UK.

That seems pretty low if you ask me.

Since the tenant fee ban came in I have a suspicion it is a loss making now and with that they will probably look to wind it down and concentrate on sales.

Lots of Lettings complaints too on Trustpilot, add that to the point you made about some senior Lettings staff leaving ... rats deserting a sinking ship springs to mind.

If and when they announce this it will cause further damage to the share price leaving shareholders wondering if there is a light at the end of this long, dark tunnel

Hunting around for a few positives for Bricks !
CANADA
1. Slightly more optimism for for Canadian Housing Market in 2020
https://www.huffingtonpost.ca/entry/housing-market-canada_ca_5dbeebb1e4b0d8b441d0644e
AUSTRALIA

2 . 39 listings left in Oz mostly being babysat by agents moved onto pastures new .Surely they must now be in a position to formally close this down, .parcel the remainderd .assign them formally to other agents and close the whole thing up

USA
Difficult to see when they will be able to close all of this down .Should imagine closure doesn't come cheap in USA with differing obilgations in each state .
Purplebricks informed the California Employment Development Department in a July 12 letter that the company would close its offices on Spectrum Center Drive in Irvine by Sept, 13. Fifty-five employees there and 68 additional people, referred to as “independent sales agents,” will be let go by the closure date.

Most of the realtors seem tohave relocated.about 20 to Dwellowner .Unsure whether they are babysitting the existing properties of Bricks like in Oz

4 Schroders seeking to sell Woodfords remaining 5% into the market place hopefuly bringing somebody in control

https://www.marketwatch.com/press-release/canada-pension-plan-investment-board-to-invest-alongside-kkr-in-acquiring-stake-in-axel-springer-2019-10-15

KKR are only just completing the funding for Axel Spinger taking the company private so unlikely to have been in a position to up the ante on Bricks

5 Noticeable that the number of properties being sold by online auction has increased at Bricks .Certainly an area finding increasing popularity.They currently have 463 listed for sale by this method which is greater than those they have to let standing today at a very low figure of 367
https://www.estateagenttoday.co.uk/breaking-news/2019/11/agency-starts-weekly-online-auctions-as-public-demand-steps-up

With a couple of key departures from Lettings they dont seem to be making much headway. Can this bus be reversed ?

>An retail organisation really needs face to face contact with customers to add any material growth to cross sales.

Face to face is obviously better but ancillary revenue was 44% of PB's 2019 FY UK revenue. They state Ancillary revenue percentage is a KPI used by the Board to measure the performance of the business in generating non-instruction income from customers.

An retail organisation really needs face to face contact with customers to add any material growth to cross sales.

Definitely not writing them off -just all very disappointing !.