Regional News

Purplebricks boss praises Local Property Experts, hints at further migration

By Editor 0 Comments NEWS, Regional News

Michael Bruce, the big man at Purplebricks pays tribute to Local Property Experts through the company's annual report.

He says in the report which covers the financial year to the end of this April: “We are extremely privileged to have secured some of the best people in our industry who have a strong desire to be part of a business that is changing the way people think about estate agents and estate agency.

“They are passionate about customer experience, giving customers that ‘light bulb moment’ where they have met an estate agent who has promised a service, delivered on that service, sold their house and saved them money.”

Bruce also repeats in the report claims made when Purplebricks announced its results to the stock market in July – including that it sold 3.1 times the number of properties in the UK than the next largest estate agency brand.

By ‘sold’, it makes clear that this is Sold Subject to Contract.

It also says that by the end of its last financial year, it was selling (SSTC and exchanges) more homes than any other group of estate agency brands in the UK.

Furthermore, it sold 81% of its listings (completed, exchanged or SSTC) in the 12 months to the end of April this year, and secured an average uplift of £6,000 on the asking price of properties in the £250,000 to £300,000 range.

Bruce also says that average revenue per instruction rose to £1,168 – adding that this is set to grow.

Read more here

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