Purplebricks review?

Anyone used PB for sale? Particularly in Melb and Adelaide? How's the experience so far?

 

I bought a property through them and it was great because they didn't seem to be working for the vendor. I was able to convince the agent that I didn't think the property was worth the asking price and the agent then worked on the vendor to bring the price down! Great as a buyer, I would never use them if I was selling. The vendor said he had had a hell of a time dealing with them and would never do it again. (you can message the vendor direct to ask questions and make offers etc). I would never want that setup if I were selling. This was in Melbourne last year

 

Sounds like you get what you pay for ...

 

I wouldn't use them personally for a number of reasons
- you pay them upfront so they have little incentive to actually work for the commission
- there are lots of things which cost extras like them doing the home open. How are they supposed to convert leads to sales if they aren't at home open?
- extra costs if you don't use their settlement/conveyancer
- not all of them are licensed and therefore don't have a code of conduct they need to adher to

 

Wait, none of them are licensed?

 

Some are but I believe not all of them are. According to the WA REI body they probably are contravening the laws here in Perth

From Purple Bricks 'misleading the public', says REIWA

 

What a nice little article- short, sharp and hard hitting, I love it!

Our local Purple Bricks team is probably one of the best in Logan and all experienced Salespeople, so I haven't had first hand experience with the aforementioned, but it does seem consistent with what we expected from them.

Interesting also to know that Purple Bricks on a whole is not doing very well at all, despite sinking millions into their constant marketing. I'm curious to know how much longer the company can sustain themselves here.

 

Property around the corner was being sold with Purple bricks..... Was on the market for a couple of months with them without being sold. Nice new courtyard property in a good location in Adelaide where there is a lot of demand. The owners changed agents to the local Ray White guy and it sold in a week...... You get what you pay for!

 

I've got some clients that told me they're selling with Purple Bricks... still on the market ~4 months later.
I'm not surprised the photos taken were average, the agent should have provided more direction IMO.
It's what $4,400 upfront & $4,400 when they sell.
So 50% payment for zero result...
Good option because you're saving on %???
Seriously the property is ~$800k I would prefer an active motivated agent on a scaled commission.

 

As per my clients' feedback - Purplebricks agents are very difficult to get hold of. Call and left message but they never return calls. This is for purchase properties in SEQ.

Maybe too busy or too lazy to return calls? Anyway we just moved on.

So a bit like choosing a Property Manager for example - I wouldn't necessarily make decision based purely on the cheapest price. It all comes down to how much value they can add in help making my overall landlord life easier. So same thing here - I would go with a reputable sales agent who have a track record in ensuring they can deliver sellers the best selling price, rather than hoping the agent will deliver that.

Cheers,
David

 

Purchased last IP Lurnea off a purple Bricks agent.
He said he was ex Mcgrath. No issues got deal done. Price he got was fair.

My worst in the world was a sale by Ray White Double Bay.

The agent added my fridge said to the buyer im sure they wont mind. It was added to contract post me and wife signing the agreement.

Quoted 1 price were pushing us to accept lower price which was $150K less than what they described as the bottom. Made our experience a living hell.
Did i mention the selling agent went overseas the day our place passed in at auction and didn let us know?

You would not believe it unless you were their. Considering commision was coming up to $20k i really expect so much better.
So I dont believe what you get is what you pay for.

$8000 should be enough to sell most houses.

 

$800,000 on a scaled commission
@1.5% commission

The difference between $830,000 and 800,000 = $450 do you think the agent cares? Nope they want the deal closed. Its my experience with every agent i delt with . As a buyer and seller.

Choose a good agent with track record and if they are refereed by reliable source even better

 

The information you post is incorrect
A fair fixed fee
$4,400
MARKETING PACKAGE

i


+
$4,400
SUCCESS FEE (paid after sale)

i

I have a sold a few and all agents charged for Billboard and Magazines and Online fees upfront No different.

 

I'm talking about different scales of commission for different results.

$750,000 @ 1.2% = $9,000

$775,000 @ 1.6% = $12,400

$800,000 @ 2% = $16,000

$825,000 @ 2.4% = $19,800

$850,000 @ 2.8% = $23,800

Works well for all involved IMO - bit more too it, need to know what the vendors happy price, what they're prepare to walk away with. What the agents expects to sell it for etc.
If agent can achieve above market results they get paid accordingly, it's above expectations.
If they can't achieve the expected result, they get paid < that normal commission.

 

I find those sliding scales too complex when trying to do calcs on the fly.
I stick with a 1.2% up to X and then 15% for every dollar above X.

 

Yeah was just to show example that it's worth it for all parties involved with a sliding scale.

 

My issue is over the last 6 years in Sydney most places were Auctions. Final price had less to do with Agen and more with market.

In a tough market maybe the agent is worth paying more for

I still feel a 4 week campaign 8-10 30 minute open $25,000 comms is too much money for setviser rendered. I know otsi like the CEOs on 10s of millions the argument bis they bring gazillion in revenue so they are with it. In my opinion and this is me no one is worth 30 million wage. Unless it's your company you created than go for you life.

In the end the real estate industry is years away from an UBER moment. Can't wait in my opinion.

 

In fairness to Westminster, their fee structure has changed. Used to be $4500 + GST on private treaty sales, all upfront, no success fee. I heard their ad in 2GB this morning and was not surprised they made the changes - cant see how any agent could make a living in a slowing market with the original pricing structure.

 

And I think it's changed again. The advert I heard in WA this morning is now $2200 up front then $6600 success fee.

Apologies for anyone being misled by my view that it was all upfront.