Purplebricks replaces Strike brand...

Purplebricks has shifted to a free pricing model and will replace the Strike brand.

It follows Strike’s acquisition of Purplebricks earlier this year.

As predicted by many, the Strike brand will now be retired and replaced by the better-known Purplebricks name.

Purplebricks will also adopt Strike’s pricing model of listing for free but then trying to make money by selling extra services to buyers and sellers.

Alongside the new pricing model, Purplebricks will launch an advertising campaign on Boxing Day that highlights the stress many people go through while selling their home through traditional estate agents – and demonstrates that there is an alternative route by saying “goodbye to the bull and hello to Purplebricks”.

Purplebricks’ new operating model also includes an account manager to support customers through the process from start to finish, working alongside expert mortgage and conveyancing professionals. Purplebricks’ expects to achieve significant market growth as a result of this new proposition.

Sir Charles Dunstone, founding partner of Freston Ventures, which backed the deal, said: “Purplebricks was the original industry disintermediator and today we are disrupting the housing market by giving customers the option to sell their homes for free. We are creating a new force in estate agency that offers customers a much better experience for no cost. This is a great day for anyone looking to sell their home.

“At Freston Ventures, we focus on building household brands that are trusted by consumers across the UK. With decades of experience in building and growing businesses such as Carphone Warehouse, TalkTalk and Five Guys, we know what it takes to create brands that people love. We believe there is a better way to sell your house and we are building a market-leading proposition to deliver it.”

Sam Mitchell, chief executive of Purplebricks, said: “The process for buying and selling properties hasn’t changed in almost 200 years. It’s a stressful and costly journey that should be simplified, which is what we’re doing today. Customers are now able to sell their home for free, with no hidden costs. They get everything they need to sell for free, with optional extras along the way, as well as access to Purplebricks’ expertise throughout.

“This is an important day for Purplebricks as a business. After a brutally tough few years, the housing market is showing signs of life as we move into 2024. With viewings increasing and banks offering more competitive rates, we are confident our new model will drive us towards significant market growth.”