Purplebricks has launched its platform in New York three months ahead of schedule to catch the city’s Spring market, its US CEO Eric Eckardt has revealed.
The company had been due to launch there in June but the pressing need to catch the busiest months of the year meant the operation has been launched just ten weeks after indicating it had the most high-profile and largest city in the US within its sights, and seven months after entering the US market.
In January the company set up offices in Midtown Manhattan, its first foray into the crowded jungle that is America’s East Coast property market.
Today’s news means Purplebricks is now operating within the world’s largest urban landmass both by area and population.
The hybrid agent now has access to a market covering 31 counties, 7.4 million households and 20 million people.
“With higher-than-average rates of commission and transaction volumes, New York was the natural first move on the East Coast for Purplebricks,” Chief Executive Michael Bruce (left) said recently.
It’s referred to locally as the Tri-State Area, which includes the city of New York, Long Island and the Mid and Lower Hudson Valley but also taking in five nearby cities and seven conurbations within neighbouring Connecticut.
“I’m very proud of everyone’s commitment and passion to execute our US strategy ahead of plan,” says Eric Eckardt (below, right).
He also told a local news website that the company had launched early because he “wanted to be in front of peak selling season”.
“We’re in a position to launch now and it’s advantageous to build brand awareness and consideration in advance of [this season].”
The move also coincides with last week’s £125 million investment in Purplebricks by German publisher Axel Springer, which was partly heralded as new cash to help it move into ‘new markets’.