The co-founder of hybrid estate agency EweMove says if the newly-floated Purplebricks fails "the online agency game could be up."
Glenn Ackroyd, who describes himself as the Head Shepherd at EweMove, says he and his team admire Purplebricks for their website and stock levels, which he believes to be the best amongst the various high-profile online agencies.
He also praises Purplebricks' public relations and the skill with which they floated on the London Stock Exchange's Alternative Investment Market at a controversially-high figure of £240m.
"But then we read their prospectus and look at the numbers" says Ackroyd, who claims that Purplebricks has accumulated £13m in losses to date.
However, because of their high profile and pioneering flotation, Purplebricks is the flag-bearer "for all the other online agents ... desparate to float or be taken over before their last remaining funding runs out."
EweMove itself runs a mix of online sales with local representatives on the ground and some physical offices.
But Ackroyd reveals in an Industry Views piece on this website that he considered becoming an online-only estate agency two years ago - but rejected the move because surveys showed the public wanted on-the-spot expertise more than budget fees.
Ackroyd writes that in 2013 his team decided to create a low cost online agency, offering consumers what he calls "an eBay style do-it-yourself service" similar to many of the online agencies that have proliferated in the past two years.
"But we did an about turn for two very important reasons" he says.
Precisely what those reasons were can be found in Ackroyd's article, which you can read here.