I think when you're speaking to a centralised call centre then basic things like not knowing the county you're in are things that are expected. They're not the experts and only there to assist with the most basic aspects of your enquiry or put you in the right direction of what you should be doing. It's probably a bit unfair to expect too much of them. Out of curiosity, what kind of questions is it you need to ask before a viewing? I think if you have a genuine intention to buy then speaking to the seller isn't viewed negatively. Unless it's something outrageously irrelevant/stupid then I don't think sellers would be too offended by you showing up for a viewing. As Cyberduck mentioned, you can send a message to the seller on the PB platform so you would likely get the most accurate answer from the seller rather than an LPE/Estate agent acting as a middle man between you and the seller to get the answer. In addition, you would have it in writing by using the messaging system so if it was something that later became a matter of dispute you would have evidence of the response which you wouldn't normally have from being advised verbally... An additional positive of using a platform like PB? Again, I'd be curious to find out what sorts of questions you might have that couldn't be answered by information already publicly available or via the messaging platform offered by PB.
They're not "exchanging human contact for an online experience"... They're adding the online element on top of having human contact. The LPE is of course local and speaks with both buyer and seller where required to do so. Having been a potential buyer of a property advertised by PB I can say the experience was superb from a buyers perspective. A property came on Rightmove late one Friday night and I was able to view the Home Report (Scotland) without having to wait on an estate agents to be open to request it and I was able to book a viewing online of which the seller accepted that night. We viewed the following afternoon and was able to submit an offer as well as further details online which I don't feel are ever passed on. As the buyer, I had a greater level of access to the seller and information relating to the sale which was a great experience. Unfortunately the seller had purchased in 2008 and therefore was sitting on a big fat loss which meant we couldn't agree to a sales price due to their expectations (like a lot of people who have been stung from purchasing around the peak time of the financial crisis). I'm constantly looking at property from an investment perspective so have contact with the local agents quite frequently when enquiring on new properties to the market and I can safely say my best experience as a buyer is with PB. there are various other features as well from notifications advising when additional viewings have been booked to offers being put in on properties you have arranged a viewing for or put an offer in for, both of which could trigger a bit more 'buyer excitement' and encourage more buying activity. I've never once experience that with a traditional estate agent and I spend a lot of time looking at property from an investment perspective. I've came across various issues with local estate agents which point largely to their inefficiencies and lack of care so suggesting the commission model gets the best price is really a naive viewpoint and I can safely see I have seen that to not be the case. Of course, they're not all bad in the same way that not all online agents are good but to be dismissive of the value added by a platform such as Purplebricks would be quote foolish. As the number of listings grow I believe that those buying will be encouraged to use the PB platform and in the years to come I firmly believe that will have a knock on effect where past buyers then become sellers and remember the ease of the platform they used to buy. All IMHO of course!
... The pay upfront model is an alternative that people clearly have the choice of at the beginning of the contract. It's not a surprise that they catch you off guard with. If you don't want to take the risk that you may pay a fee and not sell your property then don't do it. Opt for a higher priced offer that has the guarantee factored into the fee. It's crystal clear at the beginning of the contract that you're paying the fee no matter what. If you prefer a guarantee then that guarantee comes at a premium. It effectively means people with good quality properties are subsidising people with property that is perhaps not deemed 'good stock' due to price, condition, location or any other factors which may affect the property. This is largely why the low cost fixed fee option is attractive as there are plenty of properties that are pretty much guaranteed to sell when priced reasonably so the low cost option is ideal for people like this. Perhaps PB might offer an additional option in future where there is a 'No sale, no fee' option at a higher priced but all this negativity over them not offering this at present is ridiculous. The model is very clear and seen as an alternative. Yopa charge almost 80% more than their fixed fee option if you want to use their 'No Sale, No Fee' option so there's plenty of upside in this for PB to do the same.
A 2 month old company that will be lucky to see Christmas if that's their primary source of business. Profit/investment is required for growth but they will be lucky to pay the rent at those rates.
Don't worry, I don't take too much notice of these style of articles. Looking forward to a trading update and hopefully some positive news!
Just topped up another 859 shares @ 3.27pm
Looking at past history it would indicate May as the next trading update but worth double checking.
... Frontline of Global Disruption" "US-based proptech expert Mike DelPrete has published a 200-slide analysis of emerging models in the sector and said that while �nothing is guaranteed� he expects Purplebricks to emerge as a winner against other online agents. His conclusion is, however, unlikely to cause any surprise." He told EYE: �In my opinion, the UK market is at the forefront of industry disruption, especially in the traditional estate agency space. �The rise of online agencies like Purplebricks and the impact on traditional players is unlike anything I�ve seen in any other markets.� He said: �The odds are in its favour. �It has a strong leadership position, growing brand recognition, and the most traction at scale, giving it better economies of scale.� Full article on the link below: http://www.propertyindustryeye.com/uk-estate-agents-are-on-the-frontline-of-global-disruption-claim/
... On the latest SP drop? Down 15-16% from last week which is a sizeable shift!
I can understand that sentiment towards the no sale no fee strategy however a lot of agents then undervalue the property in order to increase the probability of achieving a sale. In effect, a no sale no fee policy can quite often result in a lower sale price for your property so do you really achieve anything as a seller when the selling agent has a clear agenda which conflicts with maximum sale price. When they're getting paid either way this is less likely to happen. In regards to the US, I totally agree but at one point that was the situation here in the UK. It takes time to be recognised especially with a new model to the way houses are bought/sold. So long as there's an upward momentum to justify the spend. There's lot's of hurdles ahead but I have a positive outlook for PB over the next 1-3 years assuming nothing disastrous occurs.
There's always room for multiple players. Sort of like having Rightmove and Zoopla or eBay and Amazon. I think it's fair to say that Purplebricks is currently leading the way and although others such as Yopa may be gaining market share, so is Purplebricks. It's a progressive market for online agencies and there's still a significant level of growth ahead in the UK market alone where it is most established. That for me is a positive sign especially in consideration of expansion into new markets. I've only used Purplebricks as a potential buyer and I have to say, the experience was exceptional in comparison to using traditional estate agents. From having home reports instantly downloadable to a communication platform directly with the seller and a way to submit offers on the spot and of course, the ability to book house viewings out of hours was particularly good. I can see more viewings occurring as a result of a platform like Purplebricks which exposes the service to more prospective buyers who I'm sure would consider using Purplebricks in their next selling cycle. Looking at local markets I see the share of Purplebricks listings has increased quite noticeably. Local agents which are able to compete seem to do so on the basis of social media presence and the manner in which they price property.
... Seems to be a bit of a downward trend but I'll happily hold and consider a top up if it goes down too much. Happy to hold for the next year or 2 anyway.
I think if anything the actions of putting Afren into administration has put real reflection on the depth of the situation. Perhaps that has been the intentions or perhaps that is only a bonus to a process that was going to take place anyway. We all sit in anticipation to find out if our investments are truly lost but knowing deep down we should've not got involved with such a company at any point this year. Administration is of course a major significance to any company and quite often signifies the end of the road however it's worth remembering that companies can come out of administration. Not to provide any false hope and say that's what will happen here but bare in mind that it is possible.
An open offer should've taken place long before April. The public/shareholders were unaware of a lot of things but the BoD had a lot more insight and could've raised far more funds at a far smaller dilution level had only they acted much sooner. Now we're truly in the unknown...