Estate agent comparison site GetAgent has handed a lifeline to struggling Purplebricks sellers.
It has announced that it will give home sellers impacted by the financial trouble of Purplebricks £300 cash back on their estate agent fees if they need to instruct a new agent to get their home sold.
Purplebricks’ share price plummeted by 60% this week as it was revealed that the firm is in danger of running out of cash.
Two of its major shareholders have also sold their holdings and online rival Strike is in talks about a takeover.
Purplebricks which claims to be the UK’s largest, charges £1,349 upfront, more in London and the surrounding areas, and has previously claimed to list over 5% of properties available for sale in the country.
However, GetAgent said this will do little comfort to the hundreds of sellers who, having paid upfront, now stand to lose their money while paying a second time around for another agent to sell their home.
To help ease their financial burden, GetAgent, has offered to pay £300 of their estate agent fees should they have to instruct a second agent in order to sell.
Sellers who are currently listed with Purplebricks can search GetAgent for the best performing estate agents in their area and once their selected local estate agent steps up to help them sell, the website will give them £300 cashback on the fee owed to their high street agent.
Estate Agent Today has queried how long this offer lasts and what happens if Purplebricks is sold and becomes financially viable.
Colby Short, chief executive of GetAgent, said: “It was simply a matter of time before yet another online agent fell financially short and once again, it’s their sellers who stand to be left out of pocket having paid their fee upfront.
“The good news is that the nation’s tried, tested and trusted agents are on hand to help, having proved their property selling pedigree and local expertise time and time again.
“We’re confident that our agent partners are up to the task and then some, as they consistently rank as the best performing in their respective markets. We urge anyone who does find themselves out of pocket to list with one of them, and we will be more than happy to pay a proportion of the fee owed on completion of your sale.”
GetAgent, the comparison estate agency business, has secured £2.2m in investment...
There's just a week to go to Children In Need, the...
The estate agents’ trade body has set out three ways conveyancers...
An estate agency has been fined £30,000 for waiting until minutes...
We all know that first-time buyers have had a tough time...
There was a long-awaited return to the House of Commons this...
Last weekend a story by The Sunday Times’ Deputy Political Editor...
You don’t have to simply accept things as they are when...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
Let's be honest – landlords are the lifeblood of any letting...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
When almost all agents and developers use the tried and tested formula...
I think we can all agree that the National Trading Standards...
.png)
As domestic battery storage systems become increasingly prevalent in UK homes,...
.png)
A team from The ValPal Network joined industry Facebook ads expert...
.png)
In this interview, Riccardo Dawson, Chief Operating Officer at Alto and...
A client account is essential to your lettings business, but the...
%20(002).png)
In today's fast-paced and ever-evolving property industry, it’s essential that forward-thinking...
As electric vehicles increasingly populate our roads and the necessity for...
As estate agents, it is important to make sure that your...
Estate agency has changed. No longer is it required to sit in...
Changes to consumer behaviour usually arrive in waves. Most of the...
At iamproperty we are excited to share the announcement of our...
In an exclusive interview with Estate Agent Today, Simon Coaker, Sales &...
It’s no secret – 2023 is a difficult year for the...
2023 has been coined as ‘the year of AI adoption’, and...
%20(002).jpg)
There are a few common questions that arise when the issue...
As a signage company we know we have a serious responsibility...
The Government’s mini budget on September 23 was anything but ‘mini’...
Agent websites have become more crucial than ever in attracting new...
Interesting report this week in Estate Agent Today on an analysis...
An anti-money laundering (AML) expert has queried why there is a...
When we talk in general terms about the UK housing market,...
The Law Society is facing backlash from conveyancers after issuing new...
An anti-money laundering (AML) expert has queried why there is a...
A new analysis of the cost-of-moving suggests that the typical seller...
Who are you and what does it say on...
Who are you, and what does it say on...
Who are you and what does it say on your...
.jpg){kind=avatar}
Join the conversation
Jump to latest comment and add your reply
An evasive answer to the query of "how long the offer lasts and what happens if Purplebricks is sold?"
Those foolish enough to instruct PurpleBricks in the first place are naive enough already without further encouragement.
Even better idea is to speak to agents directly and ask will they match the £300 off because if we get your details from these guys, we have to pay them 0.25% of your selling price, not our fee.
What absolute nonsense.
1. If your property is not selling it’s more than likely due to price
2. If your property is worth say £350k , your fee with a high street agent at 1% is £4200, with Purplebricks your fee is £1799 inc vat,
So even if you are offered £300 , in this instance you are still paying £3700 nearly double your Purplebricks
3. Where is the evidence to support the claim that Purplebricks change of ownership is affecting their ability to sell houses? It’s business as usual
4. Here is an idea! If you really want to help Purplebricks vendors , how able paying their full fee, from the 1% minimum comission high street agent charge
Please login to comment