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Peter Passlow
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my expertise in the industry

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Peter Passlow
Hi Jon - it's impossible to know for sure bevcause not all is as it seems when accessing figues displayed on Rightmove & Zoopla (#portaljuggling) Here's what we know: 13% from Anthoney Codling is wrong. Initially Bruce said intruction to sale agreed was 77% - https://www.estateagenttoday.co.uk/breaking-news/2016/6/city-analyst-disputes-purplebricks-claim-of-77-conversion-rate Then he went on moneybox and said 88%. Now, it must be highlighted that this is for instruction to "sale agreed" NOT "sale completed". Assuming the widely accepted industry norm of 33% of all "sale agreed" transactions falling down before completion, we could have a reasonable stab at guessing the true conversion rate for PB (instruction to sale completed). My gut feeling is that this ratio is somewhere between 50%-60% nationwide. As with all things, it depends on the quality of the LPE, the state of the local market, the willingness of the vendors to come to market at a realistic price. I would say that PB's "sale to completion" ratio is probably about the same as the average for all high street estate agents nationwide (maybe even a touch better). As such, the public probably have about a 50/50 chance of success with PB. However, 100% of PB clients will hand over £££££ regardless of success whereas anyone using a "no sale no fee" estate agent will not. I think it also worth pointing out that in each micro market around the UK there will be one or two local estate agents that will significantly outperform PB in terms of "instruction to sales completion" success levels. It's all a guess really but that's what I think anyway. Can't prove a word of it.

From: Peter Passlow 07 April 2017 12:27 PM

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