california

‘California calling’ for Purplebricks US launch

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. US roll-out 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…

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