Purplebricks told the City this morning that trading has been strong with instructions in the UK up 83% in the second half of its financial year.
Giving an update on its year, which ended on April 30, Purplebricks said that its UK business is expected to “record an adjusted EBITDA profit for the full year, building on the UK’s £0.3m reported adjusted EBITDA in the first half”.
The brief trading update does not mention how many properties Purplebricks has sold, but does refer to the recruitment of “high quality Local Property Experts” as a central element of its strategy.
As at the end of April there were 448 LPEs in the UK plus 77 in Australia.
The trading statement also refers to the number of Trustpilot reviews, at over 17,100, with the average score edging up from 9.4 to 9.5 out of ten.
It says that “with continued progress across the business the company is on course to meet the board’s full year expectations.”
CEO Michael Bruce hailed the last 12 months as a “year of great progress across the board”.
He said: “The UK business continues to go from strength to strength and the decision to increase marketing spend in the spring market has been successful. We have demonstrated that the business model works with the first expected full-year profit in the UK, while our early success in Australia highlights our ability to execute and the broad appeal of the Purplebricks customer proposition.
“US plans are progressing well . . . We are confident in our future and excited about our global opportunity.”
Purplebricks also this morning announced that its chief financial officer Neil Cartwright is stepping down due to ill health.
His successor is James Davies, most recently chief financial officer of William Hill Online.
Davies said: “Purplebricks has in just three years led permanent change in the estate agency industry. I am delighted to be joining the company at such an exciting time in its evolution.”
Sceptical analyst Anthony Codling, of Jefferies, said: “Purplebrick’s trading update focuses on listing growth with UK listings up 83% year on year, but once again no comment on how many homes are actually being sold and what appears to us to be the carefully curated Trustpilot reviews continue to improve.
“It is interesting to see that outgoing CFO Neil Cartwright is being replaced by James Davies, the former CFO of William Hill on-line. Perhaps Purplebricks should be viewed as more of a gamble than a property services firm?”
“The brief trading update does not mention how many properties Purplebricks has sold…”
I simply can’t work out why this figure is not quoted publicly ; )
Thoughts?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Number of instructions gives something to ‘rave’ about.
Poor instructions to sales is not anything to rave about.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
But isn’t PB’s business model that they only get paid on instruction, and nothing on a sale, as such instructions are key (finacially)?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Does anybody publicly state their sales figures vs instructions?
Does anybody state their % of asking price?
Does anybody state their average weeks sold?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
In answer to your queries, observer –
1. Yes
2. Yes
3. Yes
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Queue Chris wood. Rob may. Peebee. And cyber duck…
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I’ve given up commenting; it seems fighting for better standards causes irritation amongst those who take a salary for raising standards and enforcing laws and regulations but whom have neither the remit, cash, will or understanding to do what they are paid to do.
95% of wrongdoing has been stopped, (we have stopped it) the duplications deleted and the most blatant breaches of CPR and BPR ceased. With that done we are now working on the next bit of the project; taking honest and decent agents forward to better things.
This is hardly a newsflash, it lacks substance. Unless there are the HUGE profits that were predicted for the past 2 financial years (£17m then £24.9m) if they have captured 10% of all transactions (about 90,000 completions) they have failed to meet their own projections yet again.
If this is the sum total of all the cash invested, all the hype and TV advertising all the threats and bullying it is genuinely the most stunted and disappointing project I can recall.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Nice non comment 😉
never give up!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
>If this is the sum total of all the cash invested, all the hype and TV advertising all the threats and bullying it is genuinely the most stunted and disappointing project I can recall.
Not forgetting that they have become the third biggest agent in the UK in 3 years and have built a company valued at £875M. 🙂
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
cyberduck46, Remember the dotcom bubble? If not google it for companies that went bust after being valued at billions. Whilst I agree that that “valuation” is impressive it can be very misleading. I dont disagree the Bruce brothers are profitting very nicely out of it. As Ive said before on here Im jealous (of them making millions personally) but thats not serving the consumer.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
inthefield, OK, the valuation on its own doesn’t necessarily prove success but failing to meet initial projections doesn’t make it a failure either.
There’s no dotcom bubble at the moment and nearly all Analysts still rate the shares as a ‘buy’ to their customers who they try to keep by making accurate predictions.
When I started looking at PurpleBricks I found the experts on here were predicting doom & gloom going way back. So perhaps they just deserve a “well done” even if the analysts are all wrong.
In a comment to an article back in November 2016 when Michael Bruce predicted profitability by its 3rd anniversary Robert May’s comment was “Has anyone got past the ridicule stage yet?”. When people who claim to have all the data at their fingertips get their predictions wrong then you have to wonder.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
By the end of the 2016 financial year Purplebricks were at least £53million behind the huge profits that were predicted in March 2014 ( -£1.5million +£17.6million +£24.9 million with a £12million loss for YE 2016)
By July 2016 there were going to be 480 listing reps doing over 100,000 listings a year.
448 reps by YE 2017 is 7% short of recruitment target, If they have managed 40,000 listings each rep is only listing 89 properties a year against the 208 that were predicted, just 43% what investors, the public and industry were told would happen.
I’m looking forward to the accounts to see if the claimed 88% sale to listing figure holds good.
40,000 listings at a transaction average £280,000 suggests we can expect a completion figure of about £9.6billion of completions and a turnover figure of about £42.4 million.
We have all waited so long for the numbers its all down to the accountants and auditors now, let’s see what the actual numbers are.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Robert,
In terms of estimates not being met, I think most people are more interested in what has been achieved rather than what was predicted years ago. I really don’t understand why some people are so obsessed with estimates not being achieved. This is not uncommon, especially with small companies.
Why are you still looking back at estimates given in March 2014 when analysts have revised estimates several times since then? I don’t think you’ll find many investors getting upset over the estimates not being met so why are non-investors so upset?
It appears that PurpleBricks have actually met the latest consensus of analyst estimates. Perhaps even beaten them We’ll have to wait and see but 83% growth of instructions in a tough market is pretty impressive. We’ll have to see whether revenue per instruction has grown and also whether advertising costs grew but it sounds from the trading update that a profit was achieved in the second half of the year in a tough market in the UK “building on UK’s £0.3m reported adjusted EBITDA in the first half.”.
If we look back at your estimates they are wrong too and these were short term estimates made in December 2015 for a financial year that had just 4 months to run:
“Just 6 months to go industry wide transaction volumes are on their knees, PB have just 0.6% market share, my estimated for their turnover for 2015 is about £4,000,000 …”.
As the 2015 financial year was already over you were clearly talking about the 2016 financial year. Audited accounts show turnover of £18.6m.
Interestingly you also stated “Doesn’t worry me, I haven’t and wouldn’t invest in them.”
Yet it does appear to worry you and I really don’t understand why it does.
In regards to the 88% figure, what period of time was it actually for?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
£18.6million was £12million short of break even, £37 million short of the £24.9million profit predicted for the year
Ask Mr Bruce about his 88% listing to sales figure but presumably that was what the average of all sales and all listings from day 1 to October 2016 when he made the claim.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
>Ask Mr Bruce about his 88% listing to sales figure but presumably that was what the average of all sales and all listings from day 1 to October 2016 when he made the claim.
Robert,
Earlier you were saying you were waiting for the results for the 12 month period to April 2017 to see if the 88% figure held good which would mean you think Mr. Bruce can predict the future. Now you’re saying you presume it represents the whole period from startup to when he said it.
If I was to make any presumptions I’d say it was more likely to represent a period over a shorter timescale and close to when the statement was made. Most people in business are more concerned with what is happening in the recent past and at the current time.
>£18.6million was £12million short of break even, £37 million short of the £24.9million profit predicted for the year
Again, the recent past and what is happening at the current time is of more interest.
Since the beginning of the year PurpleBricks have really taken off. Market share has grown by 38% according to my proxy and whilst I hadn’t seen this locally I am now starting to see more and more instructions for PurpleBricks.
By claiming the market share for online agents is stagnant and making a big deal about portaljuggling you are doing the industry a disservice. Just a week or so ago PeeBee estimated instruction growth of 60% for PurpleBricks for the finacial year to the end of April 2017. I can only presume this is because he’s been influenced by all the talk of ‘bats out of hell’, ‘doppelgangers’ and other things that go bump in the night.
My own proxy together with information from other sources estimated close to 100% growth in instructions which if you take into account 108% reported growth in the first half of the year and 83% in the second can’t be too far off.
I’ve also seen various estimates of conversion rates for PurpleBricks. Some time back a city analyst estimated 17%. Recently I’ve seen 25% and I had to laugh at that one because I knew it was way off. The 56% figure from GetAgent is closer to my own proxy.
As an investor I was aware of the claims that PurpleBricks are not selling properties so I investigated and was able to dismiss the claims very easily.
I have analysed several small samples of data and whilst my aim was never to come up with an actual percentage I do recall one small sample being in the region of 80%. The average was probably 65% and until I see claims to the contrary from an independent source I’ll believe my own findings or those stated in audited accounts.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“In regards to the 88% figure, what period of time was it actually for?”
I believe it was a Tuesday afternoon, cyberduck46.
Oh – hang on – was it a Thursday morning…?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Isn’t the trustpilot score based on customers reviews when the property is instructed. If as many are they are unhappy with the service post instruction they cannot edit, remove or add a new review? Misleading marketing which nobody seems willing to tackle.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
You can change your review. Or that’s how it appears after searching for “trustpilot change review” on Google.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I’ve given up commenting…#warandpeace
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Hear Hear! Robert.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Congratulations to everybody at PurpleBricks.
Outstanding trading in the UK & Australia, especially in the UK where Countrywide & LSL recently reported falling revenues.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
We get it. You have shares in Purplebricks.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Whinge and moan all you like, these clever, clever marketeers are established and winning business. And every instruction/board they get builds that success still more.
Unless and until it can be demonstrated with hard facts that they don’t have a satisfactory sold % or that they don’t get best possible prices, a growing percentage of the selling public is going to head for their door.
Maybe someone should start a website/facebook account for agents to list the instructions they get after PB has failed to sell the property?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Try a 75% failure rate, using independent (uncleaned) data from ZOOPLA and Rightmove https://pzwoody.wordpress.com/2017/04/12/purplebricks-what-is-really-going-on/
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
You make a good point AgencyInsider but there are two parties in every narrative – the teller and the listener.
PB has done its job as a ‘teller’, it relies on listeners taking the bait.
By putting all this cash into advertising they are essentially ‘trapping’ listeners into the idea that PB is an estate agent. Alas, it is the customers who are both to blame and to be pitied – especially those who have paid hard-earned cash to NOT sell their home but given a 5* review along the way.
The PR-machine at PurpleBricks is churning out gold for the average Joe, it just goes to show how deep the sickness lies.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
It’s marketer not marketeer in this instance.
They are promoting a service/product rather than the market itself.
Pretty much anybody that works in marketing is a marketer not a marketeer.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“We’ve demonstrated that the business model works”. This is an interesting comment and very different from having demonstrated that the “consumer proposition” works.
The public only move a handful of times in their lifetime and have no real understanding or appreciation of what’s involved and how varied the outcome can be. There’s a reason that completions typically run at 50% of instructions throughout the UK.
Everyone thinks their house will sell quickly/easily and why wouldn’t they, they get endless flyers telling them buyers are looking on their road and whenever they speak to an agent they’re told how many buyers they have looking blah, blah.
Step in online agents, with their simple and appealing message “selling houses is easy. Pay us a small upfront fee and we’ll advertise your property for you. As we all know, the rest is a doddle so why pay a % of your equity to those nasty estate agents…”
In time, the truth will get out. This week alone we’ve taken on two properties that had been going nowhere with Tepilo & PB. That’s £2400 spent on a concept that achieved nothing, wasted the clients time and money and in reality, has probably impacted on the price they are now likely to achieve.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Purplebricks are clearly doing something that appeals to considerable numbers of prospective house sellers, both in terms of service levels and pricing points. That is simply an undeniable FACT!
We as Traditional/Hybrid/High Street ( in my view we are all “Hybrids” now ) estate agents can, and in some cases already have adopted and adapted some of their approaches to I.T. and customer care. A few estate agents ( rightly or wrongly) are even adopting their approach to pricing. That too is an undeniable FACT!
What still genuinely interests me is how effective they really are at actually selling a property on behalf of their clients. Whilst I will always acknowledge and applaud effective businesses ( even if it does not appear to be in my own personal or commercial interest) I do wonder why Purplebricks do not publicise the percentage of properties that they actually sell via their own efforts as opposed to the percentage of properties that are eventually sold via any estate agent or privately that they have happen to have had on their books at some time. For a company that is clearly so adept at promoting themselves (and I genuinely mean that without a hint of disrespect) I still have to question why these figures are not made public.
They may of course not be aware of these statistics for various reasons, or it may be that those statistics may not currently suit their narrative. It could even be that when/if those statistics do become public it will ( rightly or wrongly) actually have absolutely no impact on the decision making process of the general public – I don’t know.
Whatever the reason for this lack of information – it remains a curious aspect of the entire Purplebricks story.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
For a company that is clearly so adept at promoting themselves…
I generally agree with your post Simon but this bit I dont. Wouldnt we all be adept at promoting ourselves if we had £1,000,000 per month to spend on advertising?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
HI “inthefield”,
I’m not saying that “we” wouldn’t be as effective with that sort of investment in marketing and promotion – just that Purplebricks have indeed be very effective in establishing their brand. Many organisations ( property and non-property related ) have invested huge sums of money in attempting to establish a brand and failed for various reasons.
Their brand recognition is impressive in my view as is the increasing number of instructions they receive.There is plenty for all estate agents ( including myself) to learn from them and their approach.
i am still keen though to discover how many of the properties that they promote actually proceed through to completion whilst thet are still the listing agent. It may well be that this figure is as equally impressive – it may be that it isn’t. It may even be that prospective sellers don’t even care as long as they percieve a potential short term cost saving
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
‘£1,000,000 per month to spend on advertising’.
No we don’t have that……but what if 1,000 of us aligned and spent £1,000 each per month on intelligent collective marketing? Would you do it to gain five extra instructions per month?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Simon,
Why don’t PB publish sales figures …
If the average agents instruction to sale is c50% it is hardly a figure that any agent is going to shout about, and locally I don’t know any agent who does advertise that figure.
Therefore, imo, unless PB is achieving a record breaking 80% plus instruction to sale why should we expect them to shout out their performance?
We can argue, justifiably, that a traditional agent may get a better selling price but ultimately if Joe Seller thinks they have saved £1000s selling with PB then, like it or not, they have. It’s the sellers, not our, opinion that counts.
If I was working PB valuations I would say to the client ‘You have a 50% chance of selling your property with a high street agent and if you do you pay£X. With PB you have a 50% chance of saving £Y and the bet is £956’.
If Joe Seller wants to take that gamble, its their choice and decision.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
A I have suspected for a while now (seeing more and more of their boards in our area) the misleading TV advertising campaign has hit the mark with many consumers. I don’t doubt many vendors have got in touch thinking it was a free property sale service. Once you have an enquiry from someone that’s half the battle isn’t it?
This is no longer a spat, it is a propaganda war where the truth has already become the first casualty. None of the current industry bodies or regulators are interested in doing anything to combat it.
To my mind the only chance we have of starting to fight back and get ‘the truth to be seen’ is to form a co-operative collective of independents utilising the best ideas and practices from all of us. The onlne listing fraternity continue to snipe and ridicule what we do and individual griping will make no difference whatsoever to this.
Just 1,000 of us aligned as a collective would take the fight back to them, and help us defend our individual businesses and livelihoods with the truth. We can all retain our individuality and entrepreneurship at the same time. But who is up for a fight? I am biting at the bit to get going and do all the things our industry representatives should have been doing for months if not years. We have the ideas and we have the knowledge and talent amongst us, but none of us can do it on our own!
Who reading this is interested in helping us get started. Let’s get the truth out there and save vendors from #CONmisery with independent rescue?
If you’re interested comment below or email us at jack@thunderbirdsarego.co.uk
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
AgentV. You do yourself no favours by making such a rallying call from behind a screen of anonymity. Chris Wood has the guts to make his comments about PB in full view. It might gain you support if you did likewise. Just saying.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I have huge admiration for Chris, who incidentally knows who I am. Chris is a well known industry figure and has to put up with legal threats all the time. I have neither the time or the resources currently to deal with that.
I am a nobody with big ideas. I have no desire to become another known industry figurehead who does nothing to defend the independent sector, such as the people resident at our supposedly industry representative bodies.
The ideas I have, will in time I hope, become far bigger than I. There are others far more capable than me, such as Chris or Robert, to lead the charge. I just want to help with the ideas….ideas such that can help us all get five extra instructions a month through intelligent collective marketing.
So do I want everything to go to waste by revealing the nobody that I am, because everybody then thinks and assumes that I have underlying reasons for my own personal gain. No!
I am not about destroying PB ….just the misrepresentation and misleading marketing used to try and destroy small independent businesses, for the sole purpose of gaining market share and more money for the business owners.
I am about what we as independents can do in response to portray the truth about what we do and to defend our livelihoods. Otherwise, one day I fear, many of us will be working for the online listers!!!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
AgentV,
You mention that you are seeing more and more PurpleBricks boards. If they are not selling properties as some on here suggest then do you not think that the public will notice all these boards stuck there for month after month and then see them replaced by another board?
Now take a look at the areas that were first moved into by PurpleBricks. Hampshire & West Midlands. PurpleBricks have higher market shares in these areas than anywhere else when you look at new instructions. That tells me that local people haven’t seen anything to suggest properties aren’t selling.
Then look at Trustpilot. If you were a consumer and not happy with PurpleBricks don’t you think you’d make a point of sticking it to them by making sure you gave them a negative review? If you’d given them a positive one before your house sold wouldn’t you go back and change that review to 1* if you’d been led to believe they’d sell your property and they didn’t?
PurpleBricks have had 23000 customers whose properties would have been on the market for over a year if they hadn’t sold. Another 38000 or thereabouts have been added in the last year. Yet they only have 372 1* reviews.
Even if I hadn’t done my own research into their conversion rates. Just those observations would suggest to me that they must be selling properties. By all means be sceptical of claims by PurpleBricks but perhaps you should also be sceptical of what you are being told by other people with an agenda of their own and take into account that data can be presented in a way that is biased.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I work in Hampshire and whilst its true the market share is higher than stated across the rest of the country Purplebricks conversion rate of instructions to sales is poor enough that if it was a high street agent on a no sale no fee basis it would have gone out of business by now. Purplebricks boards generally do not read sold or of they do its not for long and another agents board goes up within three months. The public are starting to notice the board switches and ask questions.
The trust pilot would be a great example if it was filled in on completion and I prefer to refer to the All the agents reviews as a less bias site.
I for one only read the negative reviews on any company, just to see if they are realistic or just fussy.
There is a place for online agents and they will sell but it will only work for a vendor who doesnt want to buy another house or wishes to progress their own sale. I thought when PB first started it would be a real property expert who would be able to give feedback and progress the sale as any other negotiator would do. I would have been more afraid of this senario than no local expert and call centre sales progression.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
cyberduck46
Some of the properties PB list will sell…of course they will, especially in a market characterised by low stock levels where demand is correspondingly high. But lets be clear about this….they are spending a lot of investors money on attracting each and every customer. Many people have estimated that it costs them well over £2,000 per property (including their fee and expensive conveyancing referral commissions)….and that is effectively an up front charge. Thats more than my average no sale no fee amount…and we offer the full service with fully accompanied viewings, negotiated offers and full sales progression through to completion.
Whats more all my vendors deal with a highly experienced person from start to finish. So in effect we offer a far more comprehensive service at less overall cost on a no sale no fee basis!!!. We just need some investment money behind us and the systems we use, and then we would see which model is more attractive to customers.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Im loving Purplebricks at the moment. They are giving our industry a level of credibility we haven’t seen in 30 years. Its far easier to take instructions from the online agents and if the vendor feels they can do a job, then far be it from me to question then parting with £850.
All I do is take the real reviews, with me and listen to the sob stories of poor chain checking, cancelled viewings and sales that never materialize. I have recently sale agreed a previous Purplebricks instruction to an applicant who was trying to view through them to no avail. I have agreed a sale last week on a property where Purplebricks informed the vendor their buyers was cash only to find out on investigation he had an incomplete chain. These are just a number of stories I have in my locker.
People now see independent agents with eyes a new and I am pleased to report the online agents are doing their level best to improve our new found status with every new instruction.
I certainly will not be joining the fixed upfront fee revolution
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
PB probably paid PIE to publish this..
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“PB probably paid PIE to publish this..”
What a cracking result for EYE if they did!
As a news reporting channel I’m certain they would just as happily posted it FoC- just like every other article you see here, day on day…
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
It doesn’t seem to matter to the stock market what we ‘old’ estate agents think. The PB share price has continued to rise, up by 10p today to £3.28 and up by 40p over the past five days. So Micheal and Kenny have seen their wealth rise again in that time! And a nice market capitalisation of £888.54 million to boot!. Nice work if you an get it!
Will they sell more of their shares off the back of this I wonder?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
‘May the fourth’ be with you all my friends and comrades!!!!!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Above, ‘cyberduck46’ states
“Then look at Trustpilot. If you were a consumer and not happy with PurpleBricks don’t you think you’d make a point of sticking it to them by making sure you gave them a negative review?… Yet they only have 372 1* reviews.”
Okay – let’s look at Trustpilot. Let’s look REAL close.
Couldn’t be happier to oblige, cyberduck46 – after all, you’ve posted that I’m obsessive and biased in that respect…
First thing to say about your 372 1-star reviews – they would have had 375 by the time I posted this – but they have had three removed today, for moderation by Trustpilot.
Evidence shows that around 90% of these do not reappear. Why? – people have stated on various platforms including Twitter and Trustpilot itself that they do not feel that the need to prove what they post is worth the effort – even that proof has been provided and ignored!
I offer this as an example:
uk.trustpilot.com/reviews/58fa36d92ecbfc077c45f678
but believe me there are many, many more.
“Reviews” include VIEWING appointments; APPRAISALS; even potential buyers/tenants that have been promised details of appropriate listings – I’m constantly watching for someone giving them five stars for getting the spelling and grammar right on their property listing!
Nah – now I’m being ridiculous. That’ll stick out like a sore thumb as fake…
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
>Why? – people have stated on various platforms including Twitter and Trustpilot itself that they do not feel that the need to prove what they post is worth the effort – even that proof has been provided and ignored!
OK, so there are just 372 customers who are dissatisfied enough to go to the effort of sending in their invoice. From 61000 customers who have supposedly given away £850 for nothing and then just sit there watching TV ads. giving a 5 star review.
There are plenty of issues with TrustPilot but as a means of comparison between buinesses it’s pretty good. It’s the same for everyone and you will find that businesses who use it will typically bend over backwards to try and resolve any issues.
In terms of accuracy, the other side of the coin is that somebody can leave a negative review even if it’s their own fault in not understanding what they were buying or even if they did understand but it didn’t turn out the way they wanted. Or if they want to exert pressure on the company to try and get their money back.
As an internet marketer myself and going back to before trustpilot and before marketing people clicked on to the fact that customer reviews were worth spending time chasing, it was well known that there would be 10 bad reviews for every good one. People who are satisfied with a service tend to be less likely to take the time to review than those that aren’t.
In my eyes 372 ‘1 star’ reviews from a potential 61000 is nothing and that’s speaking as an experienced internet marketer and taking into account all the issues with TrustPilot as a reliable guage of customer opinion.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“In my eyes 372 ‘1 star’ reviews from a potential 61000 is nothing and that’s speaking as an experienced internet marketer and taking into account all the issues with TrustPilot as a reliable guage of customer opinion.”
Oh – it’s reliable all right… so reliable that 24.5% of ITS’ OWN reviews are 1 star!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Why did PurpleBricks take down their facebook reviews?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register