Property Industry Eye has received credible information that suggests Purplebricks is to implement a substantial increase in its prices in the New Year.
EYE understands that earlier today an ‘All Hands’ video call was made to staff around the country in which it was announced that from next February the price of the company’s Classic and Pro packages will be going up by a very large margin.
In the case of the higher pricing tier geographic areas which comprise London and most of the south-east of the country, the Classic, which currently costs £1,999 will rise to £2,999. The Pro package (which includes viewings) will go from £2,499 to £3,999.
The lower tier pricing areas covering the rest of the country will also be going up by a similar proportion.
If confirmed the new pricing will mean that the Purplebricks offerings become financially on a par with full-service, no-sale no-fee agents on the high street.
It then becomes somewhat difficult to comprehend how the company expects frontline staff to sell the packages to potential customers – especially in the face of a toughening market where not only are instruction levels falling but vendors are needing all the help they can get in order to achieve – and keep – a sale.
Purplebricks is currently facing yet another bumpy period. Next Thursday it will publish its half year accounts and then on 19th December there will be the General Meeting to vote on resolutions to remove Paul Pindar as chairman and replace him with the ex-CEO of Countrywide, Harry Hill.
EYE approached Purplebricks for a statement about the anticipated price rises. The company declined to comment.
Oh, so bored. Harry Bruce or whatever your name is, are you going to make a difference to a sinking ship.com PIE please stop giving them airtime so I can enjoy my glass of Blue Nun.
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So they are definitely saying goodbye to the northern market with those fees. Unbelievably poor leadership with no real understanding of data use and marketing. They had 10-15% of the market which they should have exploited ruthlessly but a plan based only on price means a squandered opportunity of epic proportions. Idiots!
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All the low-cost outfits will follow, including industry suppliers. The value destroyers realise they have failed. Before they go under, prices will rise. It’s their last-ditch attempt, customers will not forgive them for false promises. Bring on 2023!
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Marvellous news, should finally finish them off !
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Everything is so chuffin expensive, everything, a race to bottom on fees is gone.
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And the snowball has started down the hill…
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