Purplebricks’ newest try and disrupt the housing market – by permitting prospects to promote their properties totally free – seems to have quietly come to an finish.
The web property company launched its fee-free mannequin in December 2023, following its £1 acquisition by rival agency Strike, backed by Freston Ventures. The mannequin mirrored Strike’s strategy, providing owners free companies together with valuations, listings, negotiations, and entry to an app, with non-obligatory paid add-ons.
The initiative aimed to revive Purplebricks’ fortunes after a interval of economic problem that led to the sale. However the firm’s newest monetary outcomes present its losses have deepened — with pre-tax losses rising from £19.4m to £37.8m within the yr to 31 March 2024.
Within the wake of these figures, Purplebricks has quietly launched a brand new pricing construction, eradicating the fee-free promoting choice fully.
Regardless of the shift, the corporate has made no formal announcement and has provided little communication to the commerce press, even after a latest change in exterior PR illustration.
As an alternative, a message was posted on the corporate’s web site:
Truthful, easy, and reasonably priced transferring
We’ve at all times challenged the established order of the property agent trade – and made transferring fairer, less complicated, and extra reasonably priced. So, once we merged with Strike in 2023, we stored their boldest promoting thought: promote your own home totally free. And 1000’s did. All with out hefty property agent charges.
For a quick-moving market, our Free package deal was the right option to promote your private home and save. However at the moment, the market is totally different. Properties are in the marketplace for longer as patrons take extra time to search out their good pad.
And sellers are searching for extra assist. They need their dwelling in entrance of extra purchaser’s eyes. Critical patrons solely, no time wasters. Then when the gives begin rolling in, sellers need an knowledgeable available to assist them negotiate the very best value.
So now? We’re altering the best way we promote – with you in thoughts.
Packages designed with sellers in thoughts
So, right here’s what we’re providing:
- One easy promoting package deal.
- Elective add-ons to spice up your sale.
- Versatile methods to pay.
Condensed into one helpful package deal, now you get all the things it is advisable to promote – included as commonplace. A ‘On the market’ board, a list on Rightmove and Zoopla, skilled pictures, a 360° digital tour – the works. Plus, our group of property brokers, transfer consultants, and even supply negotiation specialists are by your facet, at every step. See precisely what’s included on our packages web page.
And, in case you’d like to spice up your sale, there’s nonetheless a spread of add-ons. From a Rightmove Featured Itemizing to hosted viewings – as at all times, it’s your sale, and your alternative. That hasn’t modified.
We nonetheless need to prevent 1000’s in your sale. That hasn’t modified, both. That’s why you’ll pay a flat payment, not a proportion of the sale. And no fee.
Fairer charges for severe sellers
As a part of our new package deal, we’re introducing tiered pricing brackets. This displays the truth that not all properties want the identical degree of assist to promote. Now, everybody pays a good, clear, flat payment that displays their promoting wants.
Versatile methods to pay
With our new package deal, you realize precisely what it’ll value to promote your private home. And now there are versatile pays to pay, too:
- Pay Upfront: Pay on your package deal while you instruct us.
- Flexi-Pay: Unfold the fee – pay a portion while you instruct and the remaining on completion.
- Pay on Completion: Pay solely when your sale completes.
Plus, for any package deal charges and add-ons due while you instruct us, you may break up the fee into month-to-month instalments with Klarna. See? There’s an choice for each vendor.
Save 1000’s in your sale
With our new package deal costs, Purplebricks continues to be extra reasonably priced than the typical excessive avenue property agent. And our flat charges imply you’ll by no means pay a proportion of your sale value, or fee. Our prospects proceed to avoid wasting 1000’s in comparison with conventional brokers.
We’ll at all times be all about difficult the best way property company works. Our new packages are part of that – to assist extra folks transfer, with extra confidence, and with fairer pricing.
Made for sellers. Made for at the moment’s market. Made to maneuver.
Purplebricks has been approached for remark.
