Some thoughts on the newspaper view that Hammond is about to ban letting agent fees in England and Wales. Firstly, PB’s letting business is tiny compared to its estate agency business – about 300 properties for rent vs 9,000 for sale so any impact to numbers will likely be equally small. That said, I expect PB will need Continue reading “What the letting fee ban means for Purplebricks and the lettings franchisors”
A Which? Survey from earlier this month suggested that a significant number of home buyer – 36% – had used traditional methods to find their homes. That backs up my idea that there is room for good traditionals to compete effectively against hybrids but they’ll have to rein in their fees if they want to maximise their share and drop their costs if they want to maximise their profits. Continue reading “Room for good traditionals as hybrids grow; Why do property transactions fail? YOPA goes for TV; some proptech showing ‘peak hype’; ASA slaps wrists of hybrids & more”
So my house was being viewed but hadn’t rented after 5 weeks of marketing. All three agents expressed surprise that it hadn’t rented as they claimed (in the two traditionals cases) that they had rented worse houses for similar amounts previously and (in PB’s case) it seemed well priced vs others on Rightmove.
Purplebricks and YOPA eating other onlines as a starter
Another interesting pattern from my listing monitor. Here is Continue reading “Purplebricks/hybrids eating online; eMoov up for sale; housing crisis overdone & more”
Lettings: the hidden value in Purplebricks shares?
As should be clear from my experience letting out my London house, the Purplebricks platform is a big improvement over the manual process traditional letting agents use BUT Purplebricks doesn’t seem to be doing the job to actually let out my house. Continue reading “Is lettings the hidden value in Purplebrics? And a (dumb) response by a traditional”
Some good indications on the PB platform for lettings which, in summary, is that it really does make a tedious process easier BUT it’s not clear who is getting in the best potential tenants which is all that really matters. PB needs
MD of Martin & Co’s Xperience is retiring… to a new job