Purplebricks has revealed that its first launch in the US is to take place in California later this year.
In February CEO Michael Bruce announced that he had raised £50 million from the City to set up operations in several US property markets in a bid to take a slice of the country’s £56 billion commission cake.
Purplebricks hired former proptech start-up figure in the US Eric Eckardt (pictured, left) to head up its US business, who says he is targeting California first because of its strong housing and economic fundamentals.
“Purplebricks is launching in the US with a distinct offering which aims to offer a better deal for customers and a compelling opportunity for highly skilled, experienced Local Real Estate Experts,” says Eric.
The state has the highest number of transactions within the US, according to the California Association of Realtors, and generates commissions each year of £11.5 billion.
Once it has a foothold in California, Purplebricks says it will then roll-out its offering across other US states, which are likely to include other high-transaction states such as Florida, Texas, Arizona and New York.
Purplebricks is now putting its considerable resources into seeking out real estate agents across California to become Local Real Estate Experts’ who, the company says, will receive “extensive training” on how to use Purplebricks’ platform and customer service.
Like the UK, the US ‘local experts’ will be offered territorial exclusivity based on ZIP code, and leads generated by a huge marketing push expected later this year.
“Our plans are progressing well and we remain on-course to launch in the second half of 2017,” says Eric Eckardt”
Michael Bruce says: “We are looking to recruit the very best real estate agents who want to be highly successful and who want to spend their time helping and supporting customers rather than prospecting for leads. We will provide them with a stimulating customer centric culture and market leading support to help them build scalable, profitable businesses.”