Purplebricks is very easily the most recognisable online estate agency, according to a survey of 1,300 home owners by respected polling organisation YouGov.
The exercise, for property information website SellingUp.com. found that 39 per cent of owners knew the Purplebricks name - a far higher brand awareness than all of its six major online estate agents rivals combined, who between them achieved only 22 per cent recognition.
Second to Purplebricks was Tepilo - which has received substantial exposure thanks to its TV celebrity owner Sarah Beeny - with 10 per cent of homeowers saying they had heard of it. Then came eMoov which although well known within the industry achieved a more modest seven per cent recognition in this poll.
easyProperty claimed only two per cent brand recognition, ahead of HouseSimple, House Network and Hatched - the latter having just been snapped up by Connells - which each polled one per cent.
“We commissioned YouGov to conduct this survey of homeowners to benchmark the online estate agent industry at a pivotal moment – the floatation of Purplebricks on the London Stock Exchange on December 17” says SellingUp.com managing director Oliver Lewis.
“The poll suggests that Purplebricks is streets ahead of its competitors in terms of public brand awareness, despite only launching in April 2014, several years after its three biggest rivals Teplio (2008), HouseSimple (2007) and eMoov (2010)” he says.
“This poll could be further evidence that in order to reach mass market awareness, television advertising is an essential tool to complement an online strategy. As the first online estate agent to become a public company, Purplebricks will have access to far greater funds than before – an estimated £25 million – much of which it will spend on marketing and business development.”
Details of the poll are here.
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I'm sure it does. For one, it has very distinctive purple branding. Secondly, it has quite an interesting name. Thirdly, their PR machine is relentless, with adverts on the Tube, TV and on the side of London buses, not to mention in papers and online.
Nonetheless, I do fear they have more interest in becoming a brand, a name, than actually selling or letting houses. The similarities with easyProperty are, once again, clear to see. I don't doubt that Purplebricks brand recognition is excellent, but that doesn't mean much if they have to be propped up by rich investors rather than actually succeeding at the bread and butter of estate agency.
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