Purplebricks made ‘rest of us look good’, claims property consultant

Alex Goldstein says the troubled agency that is up for sale has helped conventional agents to raise their game.

Purplebricks’ model of estate agency has failed, but it should be thanked for making traditional agents raise their game, argues property consultant Alex Goldstein (main picture).

He says Purplebricks has changed many things in the property business, but has ultimately made “the rest of us look good”.

Goldstein, who runs his own consultancy with offices in Harrogate, North Yorkshire, and Mayfair in London, both praises and attacks Purplebricks in a column published by the Yorkshire Post.

Purplebricks is currently up for sale with rumours that rival hybrid agency Strike is interested in making a bid.

“I admit, I have never been a fan of their stack ‘em high, sell ‘em cheap model, but I actually feel the property sector should be grateful to Purplebricks for a number of reasons,” Goldstein says.

“The company initially had a lot of agents worried. Could this new tech-orientated firm fully disrupt the sector as its rhetoric claimed?”

Razor sharp

He says Purplebricks produced “some brilliant marketing and self-promotion and razor sharp campaigns” that captured the attention of the media and public.

“Everyone was talking about it and forced established high street agents to up their game when it came to marketing so we now see in the wake of PB, many agents utilise social media and videos to broaden their reach.”

So, thank you Purplebricks for trying something new, forcing estate agents to up their game and making the rest of us look good.”

But Purplebricks made the mistake of cutting costs too far, he says, and “fell short” when it came to ensuring transactions were completed.

Goldstein says in response to the Purplebricks challenge, conventional agents now have dedicated teams to oversee the final and most difficult part of any property deal.

“So, thank you Purplebricks for trying something new, forcing estate agents to up their game and making the rest of us look good,” he says.

One Comment

  1. Here we go again, supposed experts lumping all Estate Agents together. Does he not think that all Agents with an ounce of sense have been carefully chasing their sales from agreement to exchange for decades? Progress chasing is of course one of the many things PB people don’t have time to do properly with their suicidal fee structure but then having bees paid up front, why on earth would they? It’s true, at their peak, PB wobbled the competition when it looked like the public were falling for the deceptive’commissery’ ads & many tried to come up with lookey likey ideas but they were never going to work & can now thankfully be consigned to the bin. The Bruce’s credibility has never been lower and as someone who experienced their shenanigans before they even dreampt up PB & Boomin, I hope they take whatever they’ve got left & enjoy it far away from the property market.

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