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Brexit vote has helped us, says Purplebricks CEO

Uncertainty has helped break traditional agents' grip on consumers, claims Michael Bruce

Nigel Lewis

Purplebricks CEO Michael Bruce says the uncertainty caused by the Brexit vote in June has been an opportunity for the company, which released its results this week.

michael bruceSpeaking during an interview with London-based website DirectorsTalk, Bruce suggested that he saw “Brexit as an opportunity to grow our market share and get out there an educated the UK consumers that the cost of selling your house is too high, you’ve been paying it for too long, and that the unfair commission based model agency is not the one that you should choose”.

“We have been very pleased to see that the UK consumer is making that choice, and that there is a seismic change happening in the estate agency [sector] and we’re at the forefront of that change – and we’re looking to capitalise on it.”

The comments come after Purplebricks yesterday reported its first profit of £300,000 as well as a 119% increase in the number of Local Property Experts joining the company over the past six months.

“This shows that more and more people from the industry want to join Purplebricks to offer a better quality of service,” says Bruce.

“It’s why we’re the most positively reviewed estate agent in the UK, and possibly the world.”

City investors would appear to agree with Bruce’s bullish summary of his company’s performance to date, and prospects. Its share price has jumped by 6% since its results were released.

December 6, 2016

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