The British Are Coming
British discounter plans ambitious expansion into U.S. market
(Boonton, NJ, May 18, 2017) — Purplebricks Group, a company that has ruffled feathers in Britain’s real estate market, says it aims to spend $60 million to expand in the United States.
The company launched in the United Kingdom in 2014 and gained attention by charging a flat fee of about $1,000.
Purplebricks later moved into Australia. Now it’s targeting an even bigger prize — the U.S. real estate market.
Like many disruptive brokerage models before it, Purplebricks promises to make such a big marketing splash that agents won’t need to worry about cold calling and door knocking.
"The Purplebricks model should allow agents to spend more time focusing on looking after customers and selling homes, rather than a significant proportion of their time being taken up prospecting for the next listing," the company said in a statement.
Purplebricks has aired a series of cheeky adverts in Britain touting its low fees. In one spot, two women chat over tea about one woman’s recent home sale. The other asks if she used Purplebricks.
"Aren’t they just online?" the seller asks.
"No they’re proper estate agents, real people," the friend responds. "They just don’t charge commission."
Details on the English invasion appear in the May issue of Real Estate Broker’s Insider. Click to visit the newsletter website and view the Purplebricks ads. And while you’re there, consider starting your monthly subscription to Real Estate Broker’s Insider newsletter.
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