Solihull, 12 December 2023 – Purplebricks, the UK’s most popular estate agency1, will disrupt the housing market by allowing customers to sell their homes for free as part of a progressive new operating model that places more power in the hands of homeowners.
Following its recent acquisition by Strike, the estate agency group backed by Freston Ventures, Purplebricks today launches a new pricing structure that genuinely lets customers sell their home without paying a penny. All Purplebricks customers can benefit from the service, which includes a home valuation, negotiation, listing on a major portal, and an app that lets them control their listing and viewings. Customers can choose to pay for additional services as and when they see fit.
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”.
Unlike traditional agents, Purplebricks is fully transparent about the choices available to buyers and sellers. The new pricing model offers customers the choice of paying for a premium Rightmove listing or for hosted viewings. It also provides access to market-leading mortgage deals and conveyancing services. On average, UK homeowners can save £4,320 when they sell using Purplebricks.2
Under its new strategy, the Strike name will be retired and replaced by Purplebricks, reflecting the nationwide recognition of a brand that disrupted estate agency by giving customers the ability to control the sale of their most valuable asset. 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, Freston Ventures, 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, CEO, 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.”
- https://www.purplebricks.co.uk/services/more
- Based on the average UK house price of £288,000 (ONS June 2023) and an estate agency fee of 1.5%
