Why I’m glad Purplebricks has failed - Unedited Rant for Podcast Interview

[@lesreid2704]

I understand that Purple Bricks have a poor reputation. However, I sold my property listed on Purple bricks in under two weeks. I had a detached period property with large mature gardens in a rural setting. All I wanted was the ability to list on Rightmove and Zoopla. Listing with Purple Bricks enabled this. Should I have gone to one of the quality agents who sell country properties and farms? No, because all I wanted was to list on major sites! I organised my own photos, home report from a major Scottish Chartered Surveyor, wrote my own schedule,,,, and saved a 5 figure sum in fees. With that particular property, there was nothing an estate agent could do that I couldn't do myself... And,,,,,,,,,, it has left me wondering what it is that estate agents actually do!

[@atristram54316]

Same when I sold my last 2 properties with house network, sold really fast and no issues with them. More money in my pocket.

[@Jimbo8012]

You had a property that was highly desirable and was priced to sell. That's why your house sold in 2 weeks and those factors alone make the job of selling a billion times easier. Most have a 3 bed semi with a small garden and these are ten a penny. Huge levels of competition so you need to stand out more and you need a good, experienced agent to do this.

[@BlueGorilla111]

Charlie soon as you mentioned WONGA I’m on board with your rant, disgusting people that will say or do anything to make MONEY without conscience. Well said Charlie

[@thejoneseys]

I didn't realise how bad things were with this company. I've just looked at their 5 year share price and it's an absolute horror show. Have a look folks 😳

[@jfk9996]

Last year i had 3 valuations on a property i have now sold. PB valuation was about 14% below the other 2 EAs. When I put this to the wide-boy criminal master-wank, he said that this ploy would work because I would have several buyers out-bidding each other and that it was important to under-value because "you need to get people through the door..." and all but guaranteed this." Thankfully I realised there was no such thing as a guarantee particularly as there was no motivation for them once they have your money. I used a well known EA who was more honest and pragmatic.

[@Sacharified]

Check out the interview on this channel from today on on BBC Radio, Charlie is saying basically the same thing as the PB guy told you.

[@dawnclarke1298]

I completely agree with everything you have said, Charlie. My husband and I were looking to move a few years ago. We decided not to view any properties with Purple Brick, as their customer service was in our option poor. Keep up the good work Charlie, you are one of the good guys

[@witofthestaircase1]

The now discredited superstar fund manager and Hargreaves Lansdown favourite Neil Woodford was a major investor in Purple Bricks. He also supported doorstep payday lender Provident Financial. The more fortunate observers had a sense of which way the wind was blowing.

[@oddmanout98]

Thank you Charlie. I think you have just made sure my wife and I have dodged a bullet!!

[@thetransformedchristians]

I had no idea that they were bad, from the advertising adverts on TV I saw it as a 'commission free' estate agency, I had no idea there was an upfront fee, nor that it was owned by Wonga, and I remember that company was really exploitative with its lending. Thanks for letting us all know the background.

[@MovingHomewithCharlie]

It wasn't owned by Wonga, but the Wonga founder was an investor.

[@oxymogurl72]

'Just' avoided the scathing rip-off of selling cheap. PB tried bullying us to sell for £25-30k less than AP for a quick sale, but we held our ground, much to their annoyance!! A Buyer came along and we sold for '4k' less than asking price in January 2023 ... phew😥. Gotta say though, appreciated them permitting us to use our own conveyancers and deferred the fixed fee to come from the sale proceeds, as opposed to being paid on contract exchange. Their app was pretty useful, too for liaising with buyer👌🏾

[@gee3883]

I've just sold a second property using purple bricks, the first one achieved 30k over asking the last one was under asking but realistic. As a builder/seller I think the concept of showing someone around your house outlining all the improvements etc has to be a good thing. I know more about my houses than any agent could but that will not apply to everyone. I had no idea they where charlatans, if I had I would have probably thought twice about using them but I do think agents over charge you only have to look at the shops and offices they have they are plush and only second to banks on the high street. You are slagging them off here Charlie and then saying they are probably nice guys, they sound like a right pair of c-nts if you ask me. Really enjoy the channel by the way.

[@lesreid2704]

@ Graham Wright, I agree with you 100%. I have used them with great success. All I wanted was for my property to be on Rightmove and Zoopla. Listing on Purple bricks enabled this. I too received over the asking price. The sale was quick and straight forward and I did all the "estate agent" work myself. I saved a 5 figure sum and got a quick sale. Like you, I think agents overcharge. What they do is not rocket science.

[@gee3883]

@@lesreid2704 Totally agree, just saved over 7k on the last transaction. The only thing that has cost me dear in the past was using the conveyancing firm PB recommended, that was a huge learning curve and costly mistake but that's nothing to do with getting the property on Rightmove etc. Plus selling it yourself, like you say is not rocket science, just be honest with people. I used Barnard Marcus before for a rental and they caused me no end of grief as they lied to the tenant. Hopefully someone will fill the void PB leaves as I believe the general gist of it works better over using an agent if your half switched on. Cheers.

[@gavinward3176]

So, overall not a strong opinion on Purple Bricks Charlie 😆 😂

[@KossShots]

Jesus I had no idea about this! I love Charlie

[@soldbuysimon]

As an agent of 25 years who truly loves what I do , you said it brilliantly, love it, love it f@^*/%ing love it.

[@daddo1600]

Our experience with Purplebricks was poor. The guy that priced our house just wanted it moved.... He said we should market our house for 325 and hope for 315 (back in 2019)... We new based on comparable and that we renovated the house it was worth 330 all day.... we got an offer for 315 and said we should take it... i said no thanks and a week later we had a buyer for 325 and 330 and closed the deal ourselves... glad they are in toruble.

[@AM_o2000]

Paying an upfront fee means that Purplebricks has no interest in the price you achieve, nor even whether it sells at all. Advising you to price low will make it more likely you will sell and boost their sale percentage. You managed to get 4.7% more money, which isn't a huge difference, but it does accord with the observation that people selling through Purplebricks typically end up getting 4% less.

[@flyinghedgehog3833]

Big 4 UK banks not much better...0.8% instant access with Base rate @4%... yes raking in billions !

[@davidstuart9695]

I get it. But when you own personal investments and future is reliant on Best Agent, you cannot be considered impartial on this matter.

[@jacquig7118]

I am so glad they are going out of business. Signed up with Purple Brick. They did nothing to sell my property. Could not get hold of them. The agent that signed me up left to work with another estate agent. Did not have the decency to inform me. Charged me over £1000 in fees for nothing. Scam artists at its best. Went with a local estate agent who got me a buyer in 4 days and the property sale went through with no problems

[@jcs3330]

Although some people prefer to show buyers around their own homes (cos they know it better than any agent) personally in both situations ie, vendor and buyer, I find it quite uncomfortable and imposing for many reasons. In Spain it is even quite common for an agent to show the property whilst the family are present. And in the UK I remember coming home early, and walking in on my agent showing prospective buyers around (they ended up buying it) and I quickly excused myself and left, returning once the viewing was over. No... it just doesn't sit well with me. Hence the reason, I would never had listed with purple bricks....along with all the above reasons.

[@holby2406]

PurpleBricks potentially first of many agents going under this year and next as the housing market grinds to a snails pace!?!?

[@doug2279]

There is an advantage of an agency with less staffing costs having branches however they let people list their homes for crazy prices and this means they are overpriced and they then sit on the market for too long and do not sell and these places get a bad reputation and end up selling for less. People selling on Purple Bricks are often not serious sellers and often have little intention of selling it is just a bit of fun listing your house for 50% more than it is worth

[@lesreid2704]

@ doug, I listed and sold a quality rural period property with large gardens on PurpleBricks. I paid for a home report from DM Hall, a large firm of chartered surveyors. This is a legal requirement in Scotland. I asked for Offers Over the valuation, which is standard practice in Scotland. And sold very quickly at over the asking price. Factor in the cost of the survey, the fees to list on Purple Bricks, the photos and my time.... there is no bloody way I would do this for what you term "fun". I was most certainly a "serious" seller. Purple bricks is a cheap and effective way for anyone to sell their home providing the seller has half a brain. I could have chosen one of the quality estate agents selling similar properties,,,, but nearly all buyers come from listings on sites like Rightmove... What is important is having a good solicitor who can conclude quickly and efficiently,,,, the agent is little more than an often overly slick salesman / woman

[@AM_o2000]

Usury is the term for lending at exorbitant interest rates. They were usurers.

[@BritishEaling7]

I am getting Purple Bricks ads as I watch this video🤣

[@johnmerriam8661]

Don't beat around the bush, Charlie... just say what you mean!

[@BobClements-wy7mc]

Well said. Now, what are your thoughts on the locusts that are Amazon?

[@annieanonymous611]

What will happen to those who have houses for sale on the market with PB? I'm due to go look at house that is up for sale via them this weekend.

[@MovingHomewithCharlie]

You should still view, the sellers may change agents if they want, but it shouldn't affect you too much as a buyer, although make sure the seller isn't using PB conveyancers!

[@annieanonymous611]

@@MovingHomewithCharlie Thanks Charlie

[@philiplythgoe7173]

Bought a few shares in purp at 10p this morning, Wish me luck...;

[@rebornsmith7542]

Good points, well presented.

[@VIP-rp3oq]

I would love to know how much money was pumped into P Bricks, they were constantly advertising ,, TV Radio,, months and months

[@MovingHomewithCharlie]

Tens of millions.

[@hamishmacrae6084]

Love your content Charlie - but can we PLEASE have a "viewing" around the classic Benz?!

[@MovingHomewithCharlie]

That's not it! It's a VW Touareg

[@hamishmacrae6084]

@@MovingHomewithCharlie Ahhh!!

[@darrencapaldi9991]

Next month looking to put my house on the market, should I go with a normal estate agent or a company called strike estate agent, just wondering.

[@MovingHomewithCharlie]

Avoid Strike. No motivation to sell your home, just your data

[@philjones4874]

I used Strike in Aug 2021 to sell my terrace house. My next door neighbour (identical house) used a local estate agent at exactly the same time. The estate agent showed 15 people around their house. Took 3 weeks to sell. My house went live on the Friday night, 30 mins later I had people contacting me arranging viewings. The next few days were crazy. I had viewing requests non stop. Think I had 40 viewings booked. Another neighbour sold their house for 20k more than what it was valued at so I knew what price I wanted/could achieve for mine. 2 days later a couple viewed and said they wanted it and asked me how much I wanted. They said fine - they then said they tried to view next doors but the agent didn’t let them view it. I ended up getting 14k more for mine than next doors and completed a month before him and I paid nothing at all to Strike. If your happy to do all the work yourself then I think Strike is good. They will offer you extras and try to get you to use their conveyancing but I said no thanks.

[@naratipmath]

Ok..from a buyer point of view, I should buy a house from Purple Brick? On average, I will get 4% cheaper?

[@MovingHomewithCharlie]

Possibly! Especially in this market

[@manjsingh5073]

Bad and arrogant estate agents will be sh..ting purple bricks if they do not manage vendor expectations..

[@jonsnow6741]

just had location agency close in Sutton in Asfiield .

[@jonsnow6741]

@Ed 6 councilors up for fraud in that area !!

[@connormcleod9595]

Legend

[@nicky_nike]

Are there any figures for how many will lose the fee they paid?

[@MovingHomewithCharlie]

52%

[@nicky_nike]

@@MovingHomewithCharlie Thanks. Question 1. 0.52 x no. of mugs who fell for this scam = X. Find X. I think they paid approx. £1250.00 each. It would be interesting to know 1250 x X = HOW MUCH?

[@Vintaronica]

Ahh yes trust pilot, that’s a whole different subject isn’t it 😮

[@johntrubridge8885]

Good flight Charlie Kemble ? 😎

[@MovingHomewithCharlie]

Yes thanks

[@darrencapaldi9991]

Has anyone had any dealings with yopa estate agent.

[@MovingHomewithCharlie]

Avoid! Never pay up front for a job.

[@chrisblay]

Have to agree, it does sound like dodgy business practices were used. Can you see where you’re driving with those glasses on? 🤣

[@paulmessenger9836]

They tried it in Australia

[@MovingHomewithCharlie]

And America. Both failed.

[@ianbuchanan7379]

Morning Charlie

[@YukalayleeGames]

Don't sit on the fence

[@davidrhodes3006]

Purple Bricks an upfront fee fraud

[@flyinghedgehog3833]

Is that a Merc estate?

[@MovingHomewithCharlie]

VW Touareg

[@flyinghedgehog3833]

@@MovingHomewithCharlie Duh..nice machine

[@AaaaandAction]

Looks like the inside of my Volvo SE

[@MovingHomewithCharlie]

@@flyinghedgehog3833 not bad for a 15 year old wagon!

[@talk2s5061X]

😂😂 charlie hates purple bricks 😂😂

[@richardkilley6838]

How could you tell ? 🤣

[@thedean4431]

I told you all

[@jojofruits1]

So you don't like 'em then? Haha