Eric Eckardt

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    Former CEO of Purplebricks in US seeks £5.75m to grow his own hybrid agency

    Eric Eckhardt is offering global investors the chance to back his relaunched Dwellowner platform, which he first established prior to joining Purplebricks.

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    Purplebricks appoints new interim CEO in the US

    Company says former No.2 at the business is to work at creating a new strategy for the hybrid agency in America and stem its huge losses there.

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    Purplebricks’ bosses in the UK and US quit at the same time as revenue target slips by 20%

    Hybrid agency says Lee Wainright and Eric Eckardt are to leave the business soon as predicted turnover for year slips significantly.

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    Latest property news

    Purplebricks USA gambles on expansion into Las Vegas and Phoenix

    Hybrid agency Purplebricks USA has set up shop in two more cities within America including Phoenix, Arizona and Las Vegas.

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  • Latest property newsPurpleBricks Federal Trade Commission
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    Purplebricks USA speaks at workshop designed to help legislators prevent discrimination against online agents

    Purplebricks USA says its appearance yesterday at a Federal Trade Commission and Department of Justice workshop in Washington DC was in part to help the country’s legislators prevent traditional agents discriminating against online competitors. In the past the Department of Justice (DoJ) has been forced to intervene in the US industry and prevent ‘anti-competitive’ practices involving online/digital agents. This is in stark contrast to the UK, where the main portals have from the outset enabled online-only agents to list on their platforms. This has been despite agents being unhappy that some online operators have walked a thin line between being an agent and offering vendors and landlords direct access to the portals. In 2008 the DoJ sued the National Association of Realtors – the NAEA’s counterpart in the US – for blocking internet brokers, as online agents are called there, from the country’s property portals. This in theory freed up internet brokers to offer a pared-down, low-fee service via the same portals as traditional agents, and ultimately paved the way for Purplebricks to launch in America, but anti-competitive activities persist, according to commission-free property firm Trelora. During the workshop its CEO Joshua Hunt (pictured) said his company had endured “bricks…

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    Purplebricks launches in New York three months ahead of schedule

    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…

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    Purplebricks launches in New York, expands Los Angeles operation

    Purplebricks has announced to the London Stock Exchange that it is to launch in New York in Spring this year, the second area it has targeted since establishing its US arm last year. CEO Michael Bruce has also revealed that the company has this month also expanded its existing Los Angeles operation, moving into neighbouring San Diego, Sacramento and Fresno. The company says it is targeting the New York area because it has some of the fattest ‘standard’ commission rates in the US at 7%, a high average sale value of $561,000 and a very busy market – transaction rates are double that anywhere else in the States. Michael Bruce (pictured, left), who recently stepped down as UK CEO to grapple with the company’s global expansion, says: “It is a sign of confidence in the potential of the US business that we are today announcing our expansion to cover both the East and West coast, with our planned entry into the New York market. “With higher than average rates of commission and transaction volumes, New York was the natural first move on the East Coast for Purplebricks. Referring to US CEO Eric Eckardt’s (pictured, right) previous form in the New York property market including…

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    ‘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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