Landscape Pop-up!

Just when you think you are comfortable with the real estate landscape, something new pops up on the horizon. Enter, Purplebricks.

 

 

It's been only a couple of weeks since I started seeing commercials for the newest company to arrive in New York but they're shown so often that I needed to learn more.

A British company that was started in 2012 by two brothers, has no brick and mortar presence as their business model.

According to their website, this branchless real estate agency charges a $3200. upfront fee rather than paying commission in the end. Home photos are taken by the company and put up on several sites for as long as it takes to sell. You can also buy through them.


Clearly, there is no MLS involved and no co-broke percentage offered.

Will they make a dent in our real estate industry? Only time will tell. Recognizing them on ActiveRain may not be in our best interest but they're here and people are talking regardless.


As of this writing, other than the U.K., and Australia, they can be found in LA and NY.

 

 

 

No matter how you spend your day, come home to this

 

Long Beach, NY sunset

 

Long Island Real Estate Needs? 

Reach me @516.395.8376

 

Long Beach is a diverse community that is never short on entertainment. Interested in moving to Long Beach?

Don't hesitate to call me and we can begin our tour.

 

 

CHARLES RUTENBERG REALTY INC.  *****  516-575-7500  *****

ABOUT THE AUTHOR: Graduate REALTOR Institute 

Jill Sackler, NYS Real Estate Broker Associate based on Long Island's South Shore
 
 

Jill Sackler

 

 

  

     Specializing in Lifecycle Real Estate Transitions

"When your family doesn't fit your family home, I can help."
 
 
 
 
 
   
   

   

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©Jill Sackler 2010
 

 

Comment balloon 13 commentsJill Sackler • April 24 2018 04:04PM

Comments

Jill, goodness, this sounds more like a FSBO, and they are charging a fee to advertise.    

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) 11 months ago

Hopefully people will find that they get what they pay for and realize that their homes aren't selling for as much as they could with a true real estate professional representing them.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 11 months ago

Jill as Joan says it seems very similar to FSBO. I guess this is what you see in a sellers market 

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 11 months ago

They got slapped with a big fine in Australia for their marketing, who knows how they will do in the US. Another model trying to disrupt the established model of US real estate.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 11 months ago

Joan Cox I'm not sure. Maybe a FSBO with benefits?

Brian England I find it interesting that they address that on their commercial when they say, "an online agent for a house like this?"

Grant Schneider I suppose the time was right for them to arrive here.

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) 11 months ago

Nick & Trudy Vandekar, 610-203-4543 I don't know anything about what happened elsewhere but I'd like to learn more. "Another model trying to disrupt the established model of US real estate." This resonated.

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) 11 months ago

Hi Jill- the doors have been opened for this kind of business model and even if and when one door closes, there will be someone else trying to cash in on the industry. We can't be ostriches though, and it's good to be aware of what's going on out there. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 11 months ago

Yes Purple Bricks has entered our market as well, quiet frankly I do not see it lasting just like the 1 per cent brokers did not make a foothold especially when the market tanked, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 11 months ago

Kathy Streib That's for sure. I guess we can never get too complacent.

Endre Barath, Jr. Well, you would definitely know since you're in the only other U.S. market they've entered. We'll just wait and see.

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) 11 months ago

Jill Sackler - Thanks for the heads-up! I hope they don't come to TX. I checked their website and saw the photos of agents. Not very nice looking, if you ask me. This is just one more reason why NAR needs to lay down the law and protect the membership. 

I did NOT like that video at all. It sends such a wrong message. It sounds like slander against every licensed Agent and Broker in America to me. I liked what Nick & Trudy Vandekar, 610-203-4543 had to say. And I hope they don't discredit our industry. 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) 9 months ago

On YouTube, there are videos of this company that are not altogether complementary. Former clients saying they were disappointed in the customer service, etc. so time will tell if there is a niche for their business model. In America, I imagine there will be.

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) 9 months ago

Yep they are here, too. I haven't heard anything, pro or con, or read about anyone using them and their experiences.Sounds like FSBO. I have to wonder about the agents.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 9 months ago

Never heard of them, but what an awful ad that is.  I don't get it.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) 6 months ago

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