Hybrid agent Purplebricks is recruiting local property experts in a huge number of areas right across Britain, telling applicants that they could be earning nearly £100,000 a year.
The recruitment advert posted by Powerhouse Recruitment on the Reed jobs portal does not name Purplebricks but says its client is the third largest estate agency in the UK.
The claim to be Britain’s third largest estate agent has been made previously by Purplebricks.
The advert says that the agent spends £1.3m a month on national advertising and aims to be number one in the next few years.
Applicants need to have 18 months’ experience of estate agency, with at least one year’s experience with valuations, says the advert. Qualifications are not apparently required.
Interestingly, a similar advert posted in June required three years’ experience, with two years’ experience of valuations.
While the advert says the jobs are self-employed roles, it says applicants would earn a “salary” of £45,000 a year “and right now we have many property professionals earning in excess of £95,000 pa”.
The recruitment drive is in line with Purplebricks telling the City that it wants to increase the number of local property experts to 300 in the near future.
The areas where Purplebricks is wanting to recruit local property experts living within eight miles of any of the locations are:
Aberdeen, Abersoch, Pwllheli, Criccieth, Porthmadog, Abingdon, Didcot, Andover, Basingstoke, Birmingham (Hall Green, Yardley, Sheldon & Acocks Green) Brackley, Towester, Bracknell, Bristol – East, Bromley, Swanley, Orpington, Beckenham, West Wickham, Burnage, Denton, Droylsden, Audenshaw, Canterbury, Cardigan, Lampeter, Chertsey, Addlestone, Weybridge, Elmbridge, Colchester, Coventry, Cowbridge, Pontyclun, Croydon, Mitchal, Thornton Heath, Crystal Palace, Derby, Doncaster, Dorking, Dudley-Brieley Hill, Kingwinsford, Dudley TC, Dumfries, East Devon, Edinburgh, Enfield, Barnet, Potters Bar, Watham Cross, Waltham Abbey, Exeter, Guildford, Halifax, Hampstead, St John Wood, Primrose Hill, Leeds, Lincoln, Grantham, London, Longbridge, Northfield, Rubery, West Heath, Luton, Bedford, Dunstable, Leighton Buzzard, Macclesfield, Buxton, High Peak, Maesteg, Porthcawl, Maidstone, Medway, Neath, Port Talbot, New Cross, Bermondsey, Roterhithe, South Norwood, Plumstead, Lewisham, New Romney, North Devon, Nottingham, Melton, Loughborough, Nuneaton – Bedworth, Oxford, Paddington, Westminster, Maida Vale, Queens Park, Penarth, Cardiff Bay, Pentwyn, Morgans, Whitchurch, Portsmouth, Gosport, Potters Bar, Barnet, Enfield, Reading, Reigate, Rotherham, Salford, Heaton Park, Salisbury, Scarborough, Witby, Scunthorpe, Goole, Selly Oak, Stirchley, Cotterridge, Bourneville, Sheffield, Slough, Ascot, Windsor, Solihul-Knowle, Dorridge, Henley in Ardon, Southhampton, Speke, Prescott, Halewood, Netherley, Stafford, Stoke, Stevenage, Hitchin, Stockport, Sunderland, Sutton Coldfield, Swindon, Tewkesbury, Cheltenham, Treorchy, Pentre, Pontypandy, Uxbridge, West Drayton, Wakefield, Warwick, Leamington Spa, West Brom, Bearwood, Smethick, Wigton, Keswick, Workington, Whitehaven, Maryport, Cockermouth and Ravenglas.
* The list of names is as given in the advertisement. EYE suggests that the first question applicants for the posts of local property experts should be asked is: Tell us how you spell the name of the place where you want to be a local property expert.
And if you are reading this in Pontypandy, do please send us at EYE a ‘Wish you were here’ (or within eight miles) postcard.
Wonder if the advert will be reloaded every day…?
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That did make laugh!
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Send claim for replacement keyboard c/o Ros
;o)
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18 Months experience 1 year in valuations No qualifications
Wow – real experts
Spending £1.3m per month on profiling and paying these ‘experts’ £95k + a year are probably the reasons behind why they have yet to make a profit. And maybe never will.
Great business model. I’m off to buy shares!
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1.3 million national advertising per month simply does not stake up based on last years figures where PB spent 18 million total expenditure. 1.3 million per month times 12 months = 15.6 million.
Are PB saying that every other expense only came to 2.4 million?
Even if they have increased national advertising spend to 1.3 million this year, I find that hard to justify as this would mean approaching three times more advertising expenditure alone over last years turnover of 6 million.
How can PB justify spending so much to their shareholders?
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18 months is good, there are Franchises you can buy without any experience at all!!!
And we wonder why we are not trusted.
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Fair point.
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Farmer rather misses the point that franchisees don’t necessarily need experience in the industry because the franchisor trains them and provides ongoing support.
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Or as is probably more often the case franchisees need to be business managers/entrepeneurs that can hire and fire the right people to grow it for them.
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Don’t rush, Typhoon – far too restrictive.
According to their respective recruitment drives, you can earn same or even more selling bog-brushes for KleenEzee; gooseberry shakes for JuicePlus, or mascara for Avon – all part-time and you don’t even have to give up your day job.**
You could even take your samples on appraisals – better still – get all of your listers, negs and accompanied viewers working for you doing the same…
DOUBLE BUBBLE!
** and you wouldn’t have to then remember to register yourself individually for TPO/ICO/HMRC – the list goes on… and on…
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I wonder what percentage of the fee goes to the LPE.
At 20% They need to list 20 properties per month to gross
23 outside London.
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Eamonn – I need help with your calcs.
You seem to be working on the idea that the average PB Fee outside of the Capital is around £1820 excluding VAT – and £2080 within.
Or am I missing something?
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Ahhh… good to know I can always rely on my trusty Plank to let me know someone’s reading my posts…
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Hi I am a PB LE and can verify…. £100,000+ last year in earnings.
My main job pays £99,000 basic whilst PB netted me an extra £2k over 12 months, well happy to be in the £100k plus club thanks to PB.
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Could you please forward me some recipes so I can make something with all these sour grapes?
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Take a large rolling pin…
I’ll leave the rest to your imagination.
That’s if you have one – if not there’ll be a queue of happy volunteers, no doubt…
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oh please myriad1950 – If you knew me you would know I really don’t do sour grapes and have openly said you can’t knock people for making money, however they do it, assuming it is legal. RM for instance good on em! The PB share sale saga of late, good on him!
and what an earth makes you think I would be remotely jealous of someone earning £95k?
What does puzzle me is how £798 PB fee (as per their website today) can turn to £95k wage for LPEs.
Now in the PB earlier days perhaps 1 or 2 LPEs running around their local area (local being the entire UK) this may have been possible at say 50% share of the fee…… but you put LPE in areas where they are limited to say 5 to 8 miles as a radius and £95k earnings?
119 listings at £798 to get a £95,000 income is easily possible CLEARLY – BUT how much do they [LPE] get from the £798? Say 50% then 238 listings required…… so looking at the stats around me, the PLE will need circa 80% market share to get that kind of income.
If 50% is the split then I reckon PB’s 50% share is not helping their shareholders plight to see a return this side of 2050 if ever..
One of two things on the horizon, PB increasing fee’s due to ****** all profit OR cheaper fees to stop pretenders doing the same job as them if Online Only really did take off beyond its current measly level of market share. The 3rd scenario is major PB shareholders cashing in on inflated stock market values, spending the cash and at some point saying oh well, shame PB went under.
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I would think that the supposed earnings relate to probably 10-20% of the fixed fee; the rest being made up of add ons and up selling additional services.
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the only recipe I can think of with sour grapes is corked wine, any good?
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Let’s say the LPE gets 25% of the fee from purple when they sell a property (they may get more I’m not sure how that part of their model works) and a basic of 25k. Then let’s say their AV fee is £900. They would have to be selling 30 properties per month to get a salary of 100k. To sell 30 a month they would probably be having to list circa 40 per month.
That doesn’t count for costs etc so the above is purely based on an in and out calculation.
Good luck.
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inthefield – the difference is they don’t need to ‘sell’ 30 properties – just list them! My understanding is the lpe’s are paid / invoice £300 per instruction and are not employed but self employed and run their own limited companies.
So effectively people are listing with Purcplebricks but a sub contractor (LPE) is being paid £300 to entice them to sign up with them
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Youre right MortgagaeStu19, sorry its early! In my frantic haste to post my thoughts I forgot they got paid up front!!!.
So if they are self employed, there wont be a salary so they would have to list 333 to get a salary of £100k, almost 28 per month.
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I understand thier valuers are asked to be self employed?
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Oh dear, not a job for me, I just looked and PB are not recruiting in my area.
But there are no PB signs around here either
No one knows much about PB hear
No one really cares about them around here.
Better stay where I am.
LOL
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Just lie on the application – it’s the done thing these days to create ‘fact’.
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An ex colleague of mine went to work for Purple bricks, covered an enormous area and picked off listings here, there, everywhere, had no idea of the areas he was servicing and only concerned in crashing through as many as possible at any marketing price the vendor wanted. when they cut his area down by over two thirds, his income dropped and life was not so easy, suddenly it didn’t work for him and he left. I wonder how often this scenario is repeated across the country, the vendors already get a pretty poor service and this sort of occurrence will only make their experience worse. Problem is they wont believe you until they have been through it for themselves.
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g4vlo17
It’s a real pity that your friend – and others like him – don’t come forward and personally relate their experiences.
That being said… I am sure that there are VERY good reasons why they don’t…
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Actually, my friend, most companies have a percentage of turnaround in staff, successful companies hope for less than 10% less successful can be recruiting up to 50% of their staff every year.
Now the real question here is: How many vacancies are PB creating and how many are simply refilling the leavers?
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And how many are re-loaded vacancies which are no longer available but help to fluff up the feathers?
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Re-Loaded, keeping a subs bench running or simply in need of staff to keep the instruction volume up. Either way I’d hate to be a fully paid up share holder.
Fledgling companies often go under for under performing recruitment targets just as much as poor sales, poor service/ delivery or poor management.
£1.3M advertising per month is only a fraction of the real costs involved in trying to create a behemoth of a company in such a short time frame.
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Cue Christmas backing track……. Its beginning to sound a lot like Amway….
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And here are the teams in the hat for the purple people eating cup 2016…
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Wow, 1.3 million in nation advertising costs per month!
I have an idea, cancel the advertising and use that money to set up self employed/neg small local branches who could then offer expert, full service estate agency at the average fee of 1% and make a profit!
At say an average cost of £10,000 per branch per month that would be 130 branches.
O hang on?
As I have said before estate agency charges in the UK are amongst the best value in the world. It is stamp duty that is preventing many people from moving.
The PB model is flawed as all they have done is replace the branch based cost with national advertising costs and charge upfront for their initial limited offering
In order for PB to BREAK EVEN this year they shall have to either triple their listings in a reducing volume market or triple their fees!
Will PB ever make a profit in the UK?
I suspect this recruitment drive is propaganda to help appease the stock/shareholders as it does not cost them anything to recruit these so called new ‘experts’.
It may even harm their business as it may also further dilute the earnings of their existing employees, sorry self employed listers.
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From PB’s January Trading Statement:
‘The average Purplebricks fee including all other sources of income is circa. £1,080 (inc. VAT).’
Folks – DO THE MATHS.
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Dude, size is the fulcrum on which PB’s success turns. Not the math. The math’s pretty outlier because they’re not playing our game. Jeez they’re selling agency like my wife’s selling rehab and I ain’t buying it. PB’s playing a long game. Faux fees as a loss leader while they stack vendors to build a brand. Dude the smart money’s on data and advertising revenue, portal even. Or maybe I should listen to my wife.
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‘The advert says that the agent spends £1.3m a month on national advertising…’
At the current (January 2016) average total income generated per property (excl. VAT) that is 1444 instructions-worth of income.
According to their recent Trading Statement “In April 2016… we achieved 2,827 instructions.”
So HALF of their total income for that month was already spoken for – filing our screens at every possible opportunity with Toot’n’Ploot, The Lovable Numpties who are presented as being the co-founders of PB.
At that same point in time there were apparently 205 ‘Local’ Property Whassnames – “many” of whom took the best part of £8333.33 home that month according to the job blurb.
Then you’ve got the backroom boys’n’girls… all those Director-types… gas and electricity… tea and coffee… no doubt Perrier on draught in the BoardRoom…
I repeat:
Do
The
Maths.
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Note to Plank:
You can ‘Dislike’ all you want – others know that what is written is true and correct – you’re only succeeding in making yourself look an even bigger Plank.
And who would have thought that possible…
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Big Data
big data
big data
Thats the cash machine for PB
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As I have read/been told, Purplebricks, after just 2 years ish, has a 70% + market share among internet only agents. They certainly seem to be the only one who has got it right at present.
They are still only at 4-5% share of market overall meaning there is real opportunity for growth.
Given that 20 years ago the high st was full of video shops, insurance brokers, travel agents is it a stretch to see estate agents going the same way? Only the best survived, but overall there was a huge cull. That looks a likely scenario again to me.
Given that PB are claiming that they will turn a profit next year, IF they do that’s a hell of an achievement in just 3-4 years.
So, why the hate? Is it just because its a new way of doing things? Is it because they are going to sell up at the highest point? Is it because change frightens people?
Our traditional agent (albeit Countrywide owned) is now average, with little or no way for us to excel. (Lets be fair we are all pretty much the same, like it or not) and in my mind the only way the high st agents survive is by being independent, by going all out for truly excellent customer service, and by changing our core hours.
Change is already happening, how quickly the majority act will have a huge bearing on how the industry survives imo.
Last question – I’m far from an expert on internet estate agents, but why do people think that PB in particular wont be around for the long term?
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‘They certainly seem to be the only one who has got it right at present.’
Your interpretation of ‘got it right’ is at best, suspect – and at worst, woefully ignorant of fact.
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Dear MrM07
Wot you say is interesting but your missing the point.
PB and the likes are in the main, listing agents. Their job is to generate as many properties for sale as they can (like a supermarket with huge stocks) and then let the buyers come to them.
Whilst this is a perfectly valid form of business it is a little like leaving the baby to the wolves. Not all vendors are knowledgeable about the property market in the same way when you buy a car you may buy it direct from gumtree or you may prefer a few guarantees and buy from a reputable garage but at a higher price.
Estate agents cant give any guarantees but we do steer the sale through to completion more often and not, we focus on the client’s needs first, we certainly help to ensure the client isn’t going to be victimised by a low life with a less than honest intent, which is why we carry out attended viewings, we also help the vendor to realise the best possible price with (in almost every case, I would hope) honest and sound advice.
We don’t let vendors down by telling buyers the clients lowest price or even how to undercut the clients lowest price with some cleaver fakery (yes I’ve seen this too). In short we are not letting the wolves get to the baby.
Now PB just want £799 to list the property on RM and a “good luck selling your home”!
Furthermore PB is the tip of the technological iceberg coming our way, it’s not particularly clever and it will soon be overturned with far more sophisticated turnkey systems based on phone apps. When they kick off they will have a similar impact Uber has had to the black cab.
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The service is for vendors who do not even want to pay small fee of 1% to sell their home, also aimed at Vendors who do not see any value in what local estate agents do. So in truth if a Vendor does not sell their home through this online platform, all I can say is welcome to the tough job of being an estate agent, dealing with rude buyers and vendors. There are vendors out there who are know it all’s, so use an online platform and do it all your self and save money at the same time.
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Then educate me peebee
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36 posts above yours for starters – then there’s the Archive.
That’s a veritable smorgasbord of education – if you have the appetite.
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I have mixed feelings about Purplebricks as a brand. The positive is that they do try and get actual industry experts into the positions, but it’s still not really ‘local estate agent’. Just something about it feels like it still loses a personalised edge which High Street agents provide best, and that loss of a physical office means they are relying solely on internet listings which can be very hard when the market is struggling. Also I’m diametrically opposed to the idea of someone paying up front fees for their property to be sold.
To try and help clarify the earnings side of things for Purplebricks LEs, I applied for an LE position in my local area a while ago and through the interview process I learned about how it works. They start you off with a basic salary of something like £2k for a couple of months while you get started. You then earn money from various means including acquiring the listing from valuation appointments, getting the property sold and selling professional photography and floorplans to the seller. This works out at a few hundred per listing. You then also earn an additional couple of hundred from the buyer side if you successfully refer insurance, conveyancers and mortgages etc. I think the cap per property was something like £550. They aimed to do something like between 15 to 20 sales per month but said there were people working hard to manage 20 to 25. On that basis you’d have something like £99,000 by selling all the products every time, and for that high achiever they’re earning around £165,000. So it’s very much product referral based. They also ask for applications to have a minimum of 3 years in a management position within an agency setting. The pull they make is that as it’s self-employed you’re running your own business and getting out of the branch rat race, yet they provide you all the tools you need to get on with it.
In my area I’ve heard some positives about Purplebricks and like elsewhere there are signs going up here and around. I probably prefer them to any other online agent as it’s SORT of hybrid. Just the up front fees really get me. I think if they really pull their trousers up they could be quite formidable.
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Countrywide in the form of Austin Wyatt in Hampshire are now also dipping their toes in the online agents pool. Offering a online only service with an upgrade to the full package. Advertised on Facebook and on local radio.
Others will follow whether its a collective group or individual Independents offering the “we will just put you property on Rightmove for a one off fee”
I know of at least one network that is also planning an online online service but the stumbling block is Rightmove as agents would have to have two separate accounts.
This is a valid challenge to traditional agency but there are still sellers and buyers that wish to see the whites of your eyes and feel safe especially when dealing with chains and sales progression.
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I was turned down as I claimed experience of St John’s Wood and they unfortunately were looking for an expert in the “mythical” Harry Pottresque, St John Wood.
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