PURP.L Regulatory News (PURP)

1 December 2017

Purplebricks Group plc

Purplebricks adds Feefo to its customer review choices

Purplebricks Group plc ('Purplebricks' or 'the Group') is pleased to announce a new partnership with customer review site Feefo, providing customers with even more opportunities to review the Purplebricks' service.

Feefo is widely regarded as being transparent, independent and secure, and is trusted by consumers as a vocal advocate of honesty in the reviews industry. It is only available to genuine customers, who are provided with a unique review link, ensuring only authentic reviews.

Feefo works with over 4,000 corporate customers internationally, including many leading online and high street consumer brands, and helps consumers to make more informed decisions about what to buy and who to do business with.

Purplebricks is currently working on implementation and integration with the Feefo service and will launch early in 2018. It will remain in partnership with Trustpilot and the information gleaned from both review websites will give Purplebricks invaluable customer insight and build on the excellent service its people deliver for customers on a day by day basis.

Michael Bruce, Group CEO of Purplebricks, commented:

"Purplebricks takes customer feedback seriously and we are constantly looking for ways to improve our customer experience. Since our launch we have always embraced the independence and integrity of customer reviews to assist customers in their decision making.

"Partnering with Feefo demonstrates our commitment to growing customer trust and it is another step towards greater transparency in estate agency. Customers and brands alike trust Feefo because they know Feefo reviews are the real deal."

Andrew Mabbutt, Managing Director, Feefo, said:

"Our innovation is critical to the success of any business that values its relationships with customers and wants to expand. We look forward to working with Purplebricks, providing trustworthy customer insights to help it increase traffic, enhance transparency and help it grow."

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Notes to Editors

Purplebricks is a leading next generation estate agency operating in the UK, Australia and the US. Purplebricks combines highly experienced and professional Local Property Experts and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive estate agents and estate agency. Building on its UK success, Purplebricks launched into Australia in August 2016 and the US in September 2017.

Unlike traditional agents, where customers only pay upon the sale of the property, which effectively means that those that do sell pay more in order to cover the costs of those that do not sell, Purplebricks believes it is more equitable that everyone should pay, charging a flat fee at instruction. This helps to avoid the industry issue of timewasters and those that are merely 'testing the water' and underpins the low, flat fee model.

Customers in the UK and Australia can choose to pay at instruction or defer, at no extra cost, to the earlier of ten months from the date of instruction or the date of sale. If a customer wishes to defer payment, they are required to use Purplebricks' conveyancing services for the sale.

Purplebricks charges £849 (inc. VAT) for a sale anywhere in the UK besides London and surrounding areas, where there is a charge of £1,199 (inc. VAT). There are additional charges if the customer wants Purplebricks to undertake the viewings on their behalf, if they require an energy performance certificate or a Rightmove premium display, amongst other services that are available.

The business model is low cost, flexible and cash generative, without the need for an expensive leased estate. LPEs are self-employed and receive a flat fee per instruction and can earn additional fees from the sale of ancillary services including, but not limited to, conveyancing, mortgage referrals and insurance.

Purplebricks listed on the Alternative Investment Market (AIM) in December 2015, raising £25m of growth capital before listing costs at 100p per share. In February 2017 Purplebricks raised an additional £50m (gross) through a share placing to fund US expansion.