Purplebricks’ latest attempt to disrupt the housing market – by allowing customers to sell their homes for free – appears to have quietly come to an end.
The online estate agency launched its fee-free model in December 2023, following its £1 acquisition by rival firm Strike, backed by Freston Ventures. The model mirrored Strike’s approach, offering homeowners free services including valuations, listings, negotiations, and access to an app, with optional paid add-ons.
The initiative aimed to revive Purplebricks’ fortunes after a period of financial difficulty that led to the sale. But the company’s latest financial results show its losses have deepened — with pre-tax losses rising from £19.4m to £37.8m in the year to 31 March 2024.
In the wake of those figures, Purplebricks has quietly introduced a new pricing structure, removing the fee-free selling option entirely.
Despite the shift, the company has made no formal announcement and has offered little communication to the trade press, even after a recent change in external PR representation.
Instead, a message was posted on the company’s website:
Fair, simple, and affordable moving
We’ve always challenged the status quo of the estate agent industry – and made moving fairer, simpler, and more affordable. So, when we merged with Strike in 2023, we kept their boldest selling idea: sell your house for free. And thousands did. All without hefty estate agent fees.
For a fast-moving market, our Free package was the perfect way to sell your home and save. But today, the market is different. Homes are on the market for longer as buyers take more time to find their perfect pad.
And sellers are looking for more support. They want their home in front of more buyer’s eyes. Serious buyers only, no time wasters. Then when the offers start rolling in, sellers want an expert on hand to help them negotiate the best price.
So now? We’re changing the way we sell – with you in mind.
Packages designed with sellers in mind
So, here’s what we’re offering:
+ One simple selling package.
+ Optional add-ons to boost your sale.
+ Flexible ways to pay.
Condensed into one handy package, now you get everything you need to sell – included as standard. A ‘For sale’ board, a listing on Rightmove and Zoopla, professional photography, a 360° virtual tour – the works. Plus, our team of estate agents, move consultants, and even offer negotiation experts are by your side, at each step. See exactly what’s included on our packages page.
And, if you’d like to boost your sale, there’s still a range of add-ons. From a Rightmove Featured Listing to hosted viewings – as always, it’s your sale, and your choice. That hasn’t changed.
We still want to save you thousands on your sale. That hasn’t changed, either. That’s why you’ll pay a flat fee, not a percentage of the sale. And no commission.
Fairer fees for serious sellers
As part of our new package, we’re introducing tiered pricing brackets. This reflects the fact that not all homes need the same level of support to sell. Now, everyone pays a fair, transparent, flat fee that reflects their selling needs.
Flexible ways to pay
With our new package, you know exactly what it’ll cost to sell your home. And now there are flexible pays to pay, too:
+ Pay Upfront: Pay for your package when you instruct us.
+ Flexi-Pay: Spread the cost – pay a portion when you instruct and the rest on completion.
+ Pay on Completion: Pay only when your sale completes.
Plus, for any package fees and add-ons due when you instruct us, you can split the cost into monthly instalments with Klarna. See? There’s an option for every seller.
Save thousands on your sale
With our new package prices, Purplebricks is still more affordable than the average high street estate agent. And our flat fees mean you’ll never pay a percentage of your sale price, or commission. Our customers continue to save thousands compared to traditional agents.
We’ll always be all about challenging the way estate agency works. Our new packages are a part of that – to help more people move, with more confidence, and with fairer pricing.
Made for sellers. Made for today’s market. Made to move.
Purplebricks has been approached for comment.
Charles Dunstone (Sir) is a bright cookie – but surely, he must see that this venture has run its course. Even if he fancies seeing it through the current slow market, there will be another £100m racked up in debt. And…. the public are getting wise to the failures in the Purplebricks “offering”.
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This is surely great news for the entire industry. Any time any potential client asks for 1% just refer them to the PB website and state, ‘this is a 1% service’
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The longer PB focus on their fee, the higher will be their losses.
Most vendors place fee third or fourth when choosing an agency.
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£37.8m losses. Hahahahaha! Still never made a profit!
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Whenever I look at a completed transaction sold by Purple Bricks, I tend to reach the conclusion that it has been undersold.
Not always, but nearly always. Not by huge “life changing” amounts, but still enough to be statistically significant.
I value properties in the south east and, from what I can tell, local high street agents have a habit of getting a better price for properties that are in less presentable condition.
For some of the general public, saving a fee hundred pounds in fees is a big win and they just can’t see that they could be losing thousands if not tens of thousands in the sale price.
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