Online agents commanding under 5% of market – and Purplebricks way out in front

The top ten online estate agents accounted for 4.65% of all new listings in the 14 days to last Friday (April 5).

This is very slightly down from 4.71% during the previous 14-day period, according to The Advisory.

While Purplebricks’ market share of online agency fell for the third period in a row, it still overwhelmingly dominates  the online sector despite falling from 69.2% market share of its sector to 66.9%.

In the 14 days to last Friday, Purplebricks took on 2,846 new listings, with a yawning gap between that and the next competitor, Housesimple, with 573 new listings.

Yopa had 481 listings, with another big gap between that and its nearest competitor, Doorsteps, which took on 135 new listings.

Emoov climbed to eighth place in the online league table, but with only 24 new listings.

In last place was easyProperty, with 14 new listings.

Altogether says The Advisory, there were 91,557 new property listings in the last two weeks.

The latest listings make no mention of House Network, recently sold out of liquidation.

https://www.linkedin.com/pulse/real-state-online-estate-agency-sector-2019-gavin-brazg/

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21 Comments

  1. ReluctantAgent

    2800 instructions for PB, conversion rate of only 35% and a marketing burn rate of £7 million a month……. It’s not over til’ the fat lady sings. Better put the mother in law on standby.

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    1. Property Pundit

      So over 1800 homeowners will fail to sell having paid their fee. Around £2m pi$$ed in to the wind. Nice.

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    2. Woodentop

      Between how many LPE’s?

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    3. PeeBee

      600ish (excluding Letters) – but of course they have conveniently dropped the head-count from their website.

      Still – 2800ish listings between 600ish LPEs = 4.67ish listings per head – at £150-£200 per listing (LESS claw-backs and an inevitable number of #RElistings being included in the stated figure which they get bu99er-all for…) that’s hardly going to make any of them rich people – even when you add in the add-ons.

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  2. cyberduck46

    >Altogether says The Advisory, there were 91,557 new property listings in the last two weeks.

     

    Interesting. At that rate there will be 2.4 million listing in a year.

     

    Looking at the bar chart there’s something seriously wrong with these figures.

     

     

     

     

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    1. Robert May

      Anyone with an experience of agency will  confirm that instructions always increase once the daffodils are out, gardens get some  colour and the skies are not so dark.

      The market approximates to 10 un-even months not 12

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    2. cyberduck46

      Figures look too high to me but if you think they’re accurate then fine.

       

      Looking like a good 12 months for PurpleBricks according to the figures.

       

       

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    3. Barndoor68

      Must be too early for me!! Whats wrong with the bar chart?

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    4. cyberduck46

      Values look too high.
       
      91,557 in 2 weeks and Zoopla don’t have all listings. Something like 3/4 of what Rightmove list and even they don’t list everything.
       
      https://www.propertyindustryeye.com/listings-gap-between-rightmove-and-zoopla-wider-than-expected-investors-told/
       
      Fairly old but Zoopla had 65% of RM listings back then. I saw something more recent saying 75% but I can’t find it now.
       
      So scale the number up and you would be seeing about 120,000 on RM for the last 2 weeks. Look at the bar chart and the average is less than this because of seasonality but even if 100,000 in a 2 weeks on average this would make 2.6 million listings on Rightmove for a year which isn’t the whole market.
       
      Doesn’t look right to me.
       
       
       

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    5. Garret2

      Who says those figures come from Zoopla?

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    6. PeeBee

      ducky did.  So it is right.
       
      In duckyland, that is…

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    7. PeeBee

      The LinkedIn entry which is the source of this article clearly states

      “Data taken from Zoopla and Rightmove.”

      According to Rightmove, some 103930 properties have been ‘listed’ in the UK in the last 14 days – reducing to 95076 if you discount new homes.

      Of course, it DOESN’T discount

      #RElistings

      #Portaljuggles

      and other blatant abuses of portal rules and current legislation.  OR unintentional/innocent ones, for that matter.

      But you should open your mind, ducky.  Take off your purple blinkers and look outside of the purple box.

      The world doesn’t revolve around Zoopla.

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    8. Woodentop

      It just confirms that all the on-liners are a dismal failure with less than 5% after how many years and PB only have 66.9% of that share after how much money (£200m?) spent in the UK? Dress it as much as you like … they are all a failure, just one is the best of a bunchof bad apples in a very very small barrell.

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    9. The date & time sponsored by PIE is;

      Dear Cyberduck,

      Interesting that the top 10 online only listing agents combined couldn’t keep your beloved PB afloat with investors money.  But according to you this graph is wrong.

      Thanks, but we will take it from here.

      Kind regards,

      HSEA

       

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  3. FlyingSheep54

    Housesimple’s numbers are seriously inflated by the fact they are offering free listings across Yorkshire. Let’s see how they perform when they are charging for their poor service.

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    1. Property Pundit

      Their FREE offering ‘finished’ on 02/04 but them miraculously got extended to 31/08. Must have been such a success.

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  4. Ostrich17

    PB were boasting 74% share of the on-line market at the year end and, despite closures of Emoov,Tepilo and HN, it appears that they are not making progress – unless the 74% was simply hype?

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  5. HD23

    Easy Property with 14 Instructions. How are they in business???????????

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  6. PeeBee

    Just thought I’d chuck in a little factoid or two.

    In the last 24 hours alone, PB have #RElisted more properties than any of the five lower Agents on the list.

    The total of #RElistings for the 14-day period to 5 April was 608 – which is more than the total of ‘listings’ of the highest competitor on the list.

    In case anyone gives a fuppenny.

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    1. Woodentop

      The total of #RElistings for the 14-day period to 5 April was 608 – which is more than the total of ‘listings’ of the highest competitor on the list.  
       
      PB = Fraud, fraud, fraud, fraud, fraud ….. FRAUD x 608
       
      There is a common theme with PB …. they are not honest and I do hope their investors wake up and realise they are manipulated.

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