Member Info for kramreklaw

It would be anti-competitive for Purplebricks Central to collude with a series of other companies to set fees. That sort of thing could get them an actual spanking from the CMA. Or we call it what it really is, which is tax-dodging their NI / holiday pay etc liabilities. But again, I do fully expect HMRC to clamp down on them at some point.

@UPshunt Since every LPE in the UK is a separate Ltd company who can hire their own viewing personnel, why can't they charge a viewing fee if they so choose..?

Looks like they have run out of money to buy up their own shares to try and keep the price up...

The market has not reacted well to this news – the share price has dropped 7.25%.

If your USP is to charge an up front fee, regardless of the outcome of whether a sale is actually achieved and that fee is in line or more than a no sale, no fee level, then what is your USP? Your 5* Trustpilot rating? Well gee-whiz.

That gets easier, the lower the share price.

BOOM - Emoov, Tepilo, Urban merger has failed: https://www.estateagenttoday.co.uk/breaking-news/2018/10/emoov-goes-up-for-sale--just-months-after-merger

Great news for PB, losing largest rivals in the online sector? Massive jump in the morning?

No. Symptomatic of an inappropriate service propostion. PB will hit 140 tomorrow.

PB lose money and are taking over a German call-centre company which... loses money.

The market has not reacted with open arms today.

I think that most local estate agents are running their sales' sides as loss leaders and make their money on their Lettings' offerings, of which our local CWD would have quite a decent sized register.

My experience of CWD from my city is that they started advertising "sell your house for £1,000".

From what they were earning per sale before, to that, would lead me to expect a severe drop off in turnover and profitability.

Have you seen the episode of the Simpsons where Mr Burns sells the nuclear plant to the Germans?

"plenty of potential growth for PB as the smartphone & tablet generation move more into the frame."

because no other agents are on this *checks notes* internet thing.

*Bangs head on desk*

https://youtu.be/dCe6e23yIT8

Peltata, Let’s check some online financials for last week… Hatched gone. Doorsteps cap in hand to investors. PB still trying to arrest losses and a tumbling share price. EasyProperty another huge loss. https://www.propertyindustryeye.com/reeds-rains-reports-16-rise-in-profits-despite-drop-in-revenue-from-house-sales/#comments "Online" estate agents is a smoke and mirrors term for "budget". It is the economics of something for nothing. "We can do the same job for less money." No, you can't. They are pyramid schemes that cling on to their existence via continual investor money pumped into the bottom. They are gambling (with investors money) that they can bankrupt the high street before they go bust. Hatched is the first one to fall by the wayside.

Online rival goes bust: http://stopthepress.propertyindustryeye.com/eye-newsflash-hatched-to-close-as-connels-says-online-model-not-sustainable/index.html

Cites 'model doesn't make any money' as reason.