Purplebricks has pivoted to a free service copying its sister agency Strike just six months after re-launching with a flat £999 fee.

The estate agency, which was bought for £1 earlier this year after posting poor financial and market share results, has changed its website to read “no bull – everything you need to sell your home — for free”.

Until a few days ago, the agency was charging £999 for its standard package and £1,699 for its ‘pro’ package which it presented as a ‘fair fixed fee’, claiming that ‘high street’ agents charged £3,900 or 1.3% on average by comparison.

Purplebricks is now asking vendors to ‘take their own photos’ which will be listed on the major portals and access to an app.

Viewings package

For £199 or £269 vendors can ‘boost’ their listings to include a Rightmove Premium listing and, in the latter case, a hosted viewings package.

The move has been described as ‘financial suicide’ by proptech expert and former high street agent Andrew Stanton, who gives the new venture six months before it runs into fresh challenges.

“The good thing about the old Purplebricks model was that at least it had a cashflow attached to it that was usually paid up front by the vendor whether they sold it or not – now they’ll have to wait for months for some referral cash from conveyancers or mortgage firms, severely reducing their turnover funnel.”

The new Purplebricks model is also almost identical to Strike’s and Stanton wonders whether the whole offering will be dovetailed into one brand eventually. Purplebricks’ lettings offering for landlords remains a paid-for service.