Purplebricks boss Helen Marston ‘comes out fighting’ over firm’s performance
CEO admits the firm needs 'turning around', explains why it has returned to 'commisery' and hints that industry experience is not essential.
Purplebricks CEO Helena Marston (pictured) has tackled critics who say she has little or no property industry experience during an interview in which she admits the firm has to be ‘turned around’ this year.
As well as saying that good leaders don’t need to have the ‘right qualifications and experience’, she also revealed that it was her decision to bring the firm’s self-employed negotiators and territory owners in-house.
Her comments were made during a candid Q&A with her firm’s City advisor Zeus, during which it was revealed that she led the project to bring self-employed Purplebricks ‘staff’ into employed status.
Marston became COO of the agency in October last year and CEO in April 2022.
Commisery
She also admits that Purplebricks had recently lost its initial purpose as a disruptor – which might explain its recent re-adoption of the ‘commisery’ line within its advertising.
“For a time, we tried to cosy up to the high street and say ‘hey wer’re just like you; we just sell homes and shied away from the fact that we save homeowners in the UK millions of pounds a year on commission.,” she said.
“I believe that [a low fixed fee] is the essence of what we do.”
Marston also reveals during the interview that Purplebricks is looking to bring forward its plans to become an appointed representative of mortgage lenders, and give the agency more revenue per mortgage referral.
She also welcomed the growth of competitors Strike and Yopa who, she said, were helping spread the idea of low-fee estate agency.
The whole concept of PB relied on one single highly motivated (i.e. Self Employed) Estate Agent with a mobile phone, a lap top & no High Street presence doing the work of a team of well situated hard working negotiators & secretaries. They relied solely on internet platforms for buyer leads and were expected to progress chase, value, list, and accompany, Hence the lower fees. Bringing them ‘in house’ took away the incentive to work the 15 hours a day they needed and despite the high profile ‘commisery’ ads giving the impression they were just as good as proper agents the inevitable complaints started pouring in. I sold my first house in 1973 & have seen dozens of gimmicky fee slashing so called Estate Agents bite the dust. The Pr. . . s – sorry Bricks are destined to go the same way. There is always room to enhance the wheel but you can’t reinvent it, however much you spend on misleading national advertising.
Couldn’t agree more but the ‘good leaders don’t need to have the ‘right qualifications and experience’” is a brilliant quote!! I wonder if we could apply that to surgeons, barristers, accountants and of course estate agents!!!
All PB has done is undervalue the really good, experienced and well trained operators in our profession who genuinely do such a good job. The sooner they fall off the cliff the better.