Purplebricks has launched in another region of the UK as speculation continues over the date of its expected flotation.
It has now started marketing properties in Scotland, where it says traditional agents charge an average fee of 1.8 per cent of the total sale price plus VAT - Purplebricks offers a flat fee of £798 inclusive of VAT regardless of selling price, size, location, or property type.
The standard Purplebricks offer of online-based marketing plus local property experts assisting sellers as they wish, will be on offer in Scotland as elsewhere.
“The Scottish property market is booming right now, and our potential to save sellers money is huge” says founder and chief executive Michael Bruce.
Founded by Michael and brother Kenny Bruce in 2014, Purplebricks has grown rapidly in just under two years.
Last week we reported that it was reported to be preparing a stock market listing, valuing it at close to £250m. The company is said to have appointed Zeus Capital, an investment bank, to manage the process.
Sources close to the company say the flotation could happen as early as next month - much earlier than had been anticipated early on in 2015.