One of the founders of online agency Purplebricks says his aim is for the firm to become the "first choice" for people looking to sell their properties within the next five years.
"We continue grow on a consistent basis and in the right direction. In the next five years we hope to become the first choice for people looking to sell their property in the UK. Our overall objective is to get every person who is considering selling their house to think of Purplebricks” Michael Bruce has told business-to-business publication Insider Media.
Purplebricks will next week make its latest trading update to the City, the first since a long ‘bull run’ of share price improvement. The May 11 statement will be a pre-cursor to the full year’s preliminary results which are expected to be announced on June 16.
Purplebricks’ share price closed for the Bank Holiday weekend at 174.11p - a world away not only from Purplebricks’ mid-December floatation price of 100.00p but also from a low of 72.50p reported in the second half of January.
"The problem with the estate agency industry is not the people, it's the model. I wanted to offer something that was much more convenient, transparent and cost effective and deal with the issues that customers find difficult about the whole industry" Michael Bruce told Insider.
"Our technology acts as a perfect, professional estate agent; it's never ill, it's totally reliable, never on holiday. It arranges all the valuations and viewings for our local property experts, gets feedback from customers and generates information and reports. Customers usually get one or two traditional estate agents to evaluate their properties before instructing us so they have a balanced view” he says.
Meanwhile Purplebricks has become the first-ever customer of a brand new marketing agency called Snap. Four companies were initially interested in getting Purplebricks’ business - Snap, Now, Lucky General and Karmarama.
Until earlier this year Purplebricks had been a client of ad agency BMB but a split was announced citing “creative differences.” In March, Purplebricks contacted rival advertising agencies to get them on board before new campaigns are launched.
Kenny and Michael Bruce, the traditional estate agents who founded Purplebricks, have long emphasised the importance of marketing to the company.