A leading and established London property agent has predicted that hybrid agency Purplebricks could eventually open branches or hubs in urban areas.

Lee James Pendleton says it could be a natural development as the agency has slowly aligned its business model with traditional high street agents; “who would have predicted this when they slated, sorry started,” he says.

This includes its recently-launched ‘no sale, no fee’ option for vendors and the decision to directly employ its field staff. “Please always read the small print here too,” he adds.

Pendleton (pictured) claims that while many hybrids like to focus on price and cheap fees, and have secured a very small portion of the sales market based on this, many buyers and sellers ‘learn the hard way’ that selling unusual or more expensive properties, or when sales progression becomes tricky, hybrid agents like Purplebricks may struggle to get sales through to completion.

“I would agree that some inexperienced traditional estate agencies in the UK have, in the past, not done enough to communicate the added value they contribute to a property sale,” he says.

“But it’s what vendors actually appreciate and need when, after months of waiting, they get to the ‘hallelujah’ moment of completion all the pain and joy has been worth it.”

“A vendor’s sales agent should be employed to not just find a buyer but get you through to exchange with an enjoyable communicated experience. Let’s not get started on piss-poor property conveyancers!”

Growth

Pendleton, who says his ten branches across London have experienced the most extraordinary housing market he’s ever seen so far this year as sales have bounced back following the pandemic lockdowns, says he is now mulling plans to open more branches.

“One area of serious growth for us in sales both in the capital and outside it is new homes, which are really beginning to take off and we’re looking after site as far away as Leicester now,” he adds.

“Top tip from me; always choose an agent who is has the vision and values to provide the facts and not sales fluff or high values! James Pendleton is in the happiness business so come join us.”