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Yet another online estate agency is joining the fray but this time with former traditional' estate agents at the helm and boasting substantial business investment.

Purplebricks.com has not yet launched and its work-in-progress website has the now-familiar online agency promise of a convenient, transparent, cost effective and instant estate agency launching soon across the UK.

So far, so familiar - but whereas many online agents are small, poorly-funded operations, this appears to have agency expertise behind it in the shape of brothers Michael and Kenny Bruce who ran Burchell Edwards in the Midlands.

There is big money, too. Investment comes from Paul Pindar, the former chief executive of outsourcing and business management firm Capita. Martin Bolland, Capita's non-executive chairman, is also reported to have a financial stake in the business.

Pricing is more expensive than some online rivals with vendors paying a fixed fee of £599; landlords seeking tenants through the site pay a one-off fee of £199.

There has been a two-year development phase when £1m was invested in Purplebricks' software system, which is designed to allow house-movers to monitor the progress of their transactions 24 hours a day.

No date has yet been announced for the launch but the site is hiring valuers with residential experience. It has instructed public relations company PHA, which describes its specialities as business, fashion and lifestyle and is also using social media to increase public awareness.

Comments

  • icon

    Wow, perfect. Fortunately, I found your website! http://www.cheapwatchchina.us/

    • 18 September 2014 03:55 AM
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    Hiya AoS - look carefully and you are already mentioned on the site as one I hope will make the leap to 'The Dark Side"...! ;o)

    • 20 March 2014 17:45 PM
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    Peebee - have you seen Ros' new site I will be moving over....propertyindustryeye.com

    • 20 March 2014 09:37 AM
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    Not to mention the previous story to the above -
    http://old.estateagenttoday.co.uk/news_features/Connells-snaps-up-16-strong-independent-chain#

    I wonder what happened to my fwend 'Marie' The 'bright, new EAT could do with more like her (and the droves of others that seem to have deserted...)

    Maybe I'll find them on the industry news site launched today... ;o)

    • 19 March 2014 11:47 AM
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    Instead of losing all your filters Simon, a little deference goes a long way. Agencys seeing the genesis of competition [theyre actually colleagues with the same affiliation as us] so its hard to translate your tribal tattoo buddy Such scathing for everything online is part of our coding, I get it but Im hoping theres more to you than just painting with words. Dude lets face it, weve been lord of the flies forever and this is what weve got to show for it. Pony up big man because, but for our shortcomings wed be at the forefront of online agency and not them. This is OUR little gift that keeps on giving and though you see an industry bastardised, I see a desperate sense of entitlement but surely we agree that we need to act

    Sellers will not hand over 600 ( does that include VAT i wonder ) to a complete stranger without any track record or local market share no matter how fancy there website or marketing gumpf appears - least of all an estate agent

    And yet the online industry continues to exist..

    Seriously "Obeserver' Isnt this how many an indie started up, in fact isnt this the birth right of many an agent especially given that the law has been so accommodating recently

    The impact of online agents has yet to really hit home simply because of its infancy and its hubris to think it wont maturate, jeez even Stelious wants a slice. Its a renaissance spurred on by a digital revolution and our best defence seems to be jazz hands. Were way too smart for minimum wage and were legion yet we only rely on hurting their feelings. Those with smarts will understand that its time we started renting space in their head!

    • 19 March 2014 11:10 AM
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    http://old.estateagenttoday.co.uk/news_features/Harry-Hill-property-firm-gets-set-to-wind-down

    • 19 March 2014 10:58 AM
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    There are already agents out there in most markets in the south east that'll do it for not much more than 600 and on a no sale no fee basis! - some of these even have branches - they all have websites and use Rightmove as well so why on earth would a seller feel the need to pay this lot with frankly a rediculous brand/name 600+ !! This business model has been poorly concieved - but not by accident - It's basically pyramid selling and badly done - if anyone makes anything at all it'll be a couple of fat cats sitting at the top who are leaching of the hard graft of a few simpletons lower down the chain - wont last long.

    • 19 March 2014 09:34 AM
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    Sellers will not hand over 600 ( does that include VAT i wonder ) to a complete stranger without any track record or local market share no matter how fancy there website or marketing gumpf appears - least of all an estate agent. The market for sales and lettings is strong - yeilds and values are better than most vendors would have anticipated so they neither need to or be prepared to takle a 600 gamble on this lot - especially given the stupid name!

    • 19 March 2014 09:24 AM
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    When will they ever learn, here cometh the lesson. If you go fishing is a small smelly pond full of unhealthy contaminated fish then guess what you will catch, something worse than fish, that's for sure. In estate agency terms most good buyers and tenants go to estate agents, bad tenants and buyers looking for a bargain go privately. The result is awful for the vendor or landlord, they may save fees but the real cost is the lower price they will get, the increased chance of being messed around and in the case of a landlord, the very real chance of complete disaster. The thing these online sites can't get their head round is you still need to do viewings and negotiations to provide any kind of service. The only savings to be had are on a high st shop but often a shop presence will bring in more than the cost. Game set and match I feel.

    • 19 March 2014 08:18 AM
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    If they have paid 1m for software for vendors to track the sale then the only people successful in this are the developers, 1m my a**!

    • 19 March 2014 07:29 AM
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