Purplebricks
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Latest property news
Has online and hybrid estate agents’ market share grab run out of steam?
Figures from research firm TwentyCI reveals online and hybrid's share of the property markets has slipped by 0.4% to 7.2%.
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Features
The demise of the online estate agency sector
‘Happy New Year… As I sit down to write this article, the first one of 2019, the estate agency news magazines, websites, portals and indeed, Twitter, are full of stories about the demise of the online estate agency sector, says Adam Walker, I hate to say ‘I told you so,’ but…”
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Purplebricks gives new COO a £1.1 million golden hello
Hybrid estate agency Purplebricks has given its new Chief Operating Office Vic Darvey a £1.1 million godlen hello.
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Latest property news
Haart branch apologises after prospecting letter suggests Purplebricks is in financial trouble
A haart branch member in Nottingham has sent out a prospecting letter to a Purplebricks vendor that mistakenly suggested the hybrid agency is in trouble.
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Latest property news
Online and hybrid rivals of eMoov hoover up former employees
Online and hybrid agents are taking on many former employees of eMoov including Purplebricks, OnlineEstateAgents.com, Keller Williams and Housesimple, research by The Negotiator can reveal. Of the 50 or more local property experts formerly working for eMoov on a self employed basis, half have yet to find new roles while 10% have secured roles outside the property industry and a further 20% have found roles at traditional agents. One example is Paul Radloff, who was a local property agent for eMoov in the South East but is now working for Sequence as a branch manager at its office in Lewes. But a fifth have secured jobs at former competitors of eMoov’s including one of the most senior, Richard Olliffe (picture, left), the company’s former Group Sales Director since November 2017. He has started a role at Purplebricks as a Sales Director. And eMoov’s Midlands Territory Manager Ben Burgin has joined Housesimple as an estate agent covering Lincolnshire and South Yorkshire. He joins at least three other former eMoov field representatives at the Essex-based hybrid agency including Reece Maddick and Jack Malnick. Malnick was formerly National Sales Director at eMoov but is now Housesimple’s Operations Director. Also, two former eMoov local…
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Latest property news
Purplebricks and Yopa boosted by demise of eMoov and Tepilo
Purplebricks and Yopa benefitted the most from the demise of Emoov and Tepilo, a report into the online and hybrid estate agency market has revealed. Analysis of the sector’s growth by housing market advice service PropertyRoad.co.uk has revealed that Purplebricks increased its slice of the cake from 53% to nearly 60% while Yopa increased its from 9.6% to 15%, helped in part by the two competitors disappearing. The research found that Purplebricks picked up the most market share during the year, unsurprising given its dominance of the field and its recent offer to take on former customers of eMoov and Tepilo for free. Its other nearest rival, Express Estate Agency, now has 12.4% of the online market, up by just 1%. The remaining ‘big six’ hybrid/online estate agents now have just over 95% of the market between them. This includes Purplebricks, Yopa, Express Estate Agency, House Network, Housesimple and Doorsteps. “Consumers are increasingly turning to the brands they recognise despite the recent news about the difficulties faced by previous big brands such as Emoov and Tepilo,” the report says. It is also clear from the research that the battle for second place is now on. Purplebricks looks unassailable with 20,272 active…
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Latest property news
Purplebricks’ growing dominance revealed by Google search analysis
Searches for hybrid estate agency Purplebricks increased by 18% over the past 12 months, research by consultancy MediaVision reveals.
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Latest property news
Purplebricks share price plummets AGAIN to historic low
The Purplebricks share price has taken a hammering over the past week as investor jitters sent it plummeting by 26% prompted by bad news from Brexit, eMoov and its latest results. Its share price began at £1.70p on Monday morning, dropping dramatically to £1.50p almost immediately and then yo-yoing down to £1.26p at one point before settling at £1.30p at close of play yesterday. The dramatic price movements are in part down to the ongoing uncertainty around Brexit and news that its largest competitor eMoov had entered into administration, but also worse-than-expected figures from its latest six-month results. As we reported yesterday, these revealed how its US and Australian operations have continued to lose money, dragging its group results in to the red despite increased revenue and profits in the UK. Investors ignored a beefed-up management team at Purplebricks. The company revealed that online industry heavyweight Vic Darvey (left) will be joining as its group Chief Operating Officer in the New Year from MoneySupermarket.com. Darvey has 20 years’ experience at comparison website including MoneySupermarket.com but also Lastminute.com and, during the late noughties, co-founded his own online travel company. “Vic brings a proven record of technology delivery and leadership of cutting…
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Latest property news
Purplebricks offers free service to 2,000 former eMoov and Tepilo customers
Purplebricks group CEO Michael Bruce says he want to offer hope to the approximately 2,000 stranded customers of eMoov and Tepilo.
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Latest property news
Purplebricks: all-time share price low after Oz CEO quits
Shares in Purplebricks have today dropped in price to an all-time low following the resignation of the company’s Australian CEO Ryan Dinsdale. Purplebricks issued a statement to Australian media yesterday revealing that it had been mutually agreed that he would exit the business on March 1st next year following a period of transition. He is to be replaced by the company’s global chief operating officer and former Rightmove star Neil Tavender, who was appointed in August to help sort out its troubled sales operation. Following the news, Purplebricks’ share value dipped down to £1.62p, the lowest it has ever reached since it floated on AIM in December 2015. Only six months ago it was at £3.79p. Oz business magazine The Australian Financial Review has reported that territory owners and agents were unaware of Dinsdale’s departure and that they had been told he was on annual leave. Final months Dinsdale, who until now had denied rumours he was considering quitting the company, has endured a torrid few months at Purplebricks. In June, after denying that its Oz business was struggling, one of its former territory managers then went public with an unflattering insight into its sales operation. Then in August figures…
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