Is Purple Bricks a Red Flag?
Discussion
I really don't want to give some feckless moron of an estate agent a percentage of the proceeds of our financially unviable buy-to-let. I would like to go with Purple Bricks, but my wife thinks that that sends out the wrong message and could be discounted by a prospective buyer. Any thoughts from the hive mind?
I think it depends on the type of property, is it one of a terrace or cul de sac where prices are easy to gauge or is it a unique one off property that is hard to value? Also depends on value of property, let's say 750k+ purple sounds wrong but at a lower price point why not. They've been fairly successful
One element agents do is keep it objective and a 3rd party relationship, I've had buyers and sellers who are eejits and this has been useful
I've never used purple and would negotiate a rate with a high street agent
One element agents do is keep it objective and a 3rd party relationship, I've had buyers and sellers who are eejits and this has been useful
I've never used purple and would negotiate a rate with a high street agent
Edited by v8notbrave on Tuesday 22 September 15:08
Read this thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
Sheets Tabuer said:
I've sold 3 houses with PB, never had an issue, unless you find an estate agent that is doing more than sticking the house on rightmove I fail to see the problem.
Unlike the high st chain that wanted £500 for photos because they used a DSLR.
FWIW this would be my stance also.Unlike the high st chain that wanted £500 for photos because they used a DSLR.
Mr Pointy said:
Read this thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
Anyone who has any sense will be searching on Rightmove and quite likely the other sites.https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
If a nice place comes up at a good price, they would be foolish to dismiss it because it's PB.
Maybe they will look at others first though?
But some people end up buying houses which don't come up on a RM search, they find them because an agent points them in that direction.
Maybe it's outside their search area by half a mile or doesn't quite match in some other way.
Maybe it depends on the house and who you expect to sell it to?
Aerate said:
I really don't want to give some feckless moron of an estate agent a percentage of the proceeds of our financially unviable buy-to-let. I would like to go with Purple Bricks, but my wife thinks that that sends out the wrong message and could be discounted by a prospective buyer. Any thoughts from the hive mind?
Yes. It's a red flag to me, like looking at a 911 with ditchfinders.Ultimately if someone really wants your house then they want it, but why would you put yourself at a disadvantage.
There's so many estate agents now surely a small independent would do it for the same or similar price, then when it comes down to the side of things that PB don't do like real human interaction when negotiating, seeing things through to completion, dealing with any queries, you get the best of both worlds.
I view them the same way I see Cazoo or Cinch in the car world, seems like a great idea but ultimately those people that the public love to hate (car salespeople and estate agents) can add value to the process and make life just a little easier.
And just to add a little humour from the great Bob Mortimer, just make sure you don't use this guy - https://www.youtube.com/watch?v=ladHhiTM6V4&t=...
There's so many estate agents now surely a small independent would do it for the same or similar price, then when it comes down to the side of things that PB don't do like real human interaction when negotiating, seeing things through to completion, dealing with any queries, you get the best of both worlds.
I view them the same way I see Cazoo or Cinch in the car world, seems like a great idea but ultimately those people that the public love to hate (car salespeople and estate agents) can add value to the process and make life just a little easier.
And just to add a little humour from the great Bob Mortimer, just make sure you don't use this guy - https://www.youtube.com/watch?v=ladHhiTM6V4&t=...
Mr Pointy said:
Read this thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
I have bought via PB before. It was OK.https://www.pistonheads.com/gassing/topic.asp?h=0&...
Not one poster would look at a property being marketed via PB.
I have also tried to buy via PB before and, in spite of me not wanting surveys etc, the local agent for that one refused to recommend my offer to the vendor. Her reason? I couldn't produce a mortgage agreement in principle like their other "cash buyer" had done. She genuinely seemed to struggle with the notion that the other cash buyer actually wasn't...
Would it be a red flag? Nope. But there seems to be a level of service unpredictability.
If I want a house, I want it. Which EA does not even come into it.
Perhaps in a competative / hard to sell market, the EA carries some weight, otherwise, no, noone cares.
EAs are a massive waste of space and money when it comes to buying. They offer nothing at all. ("but they push the chain along...)" do they f
k. You can do that. I did with my last sale. Emailed the buyer almost daily as we approached completion.
Perhaps in a competative / hard to sell market, the EA carries some weight, otherwise, no, noone cares.
EAs are a massive waste of space and money when it comes to buying. They offer nothing at all. ("but they push the chain along...)" do they f
k. You can do that. I did with my last sale. Emailed the buyer almost daily as we approached completion.Sold a BTL ourselves using these: https://www.quicklister.co.uk/
An EA will know less about a property than the owner and dealing with the purchaser directly saves load of time. Sold ours from offer to completion in 8 weeks as there was no 3 way conversations via an EA...
An EA will know less about a property than the owner and dealing with the purchaser directly saves load of time. Sold ours from offer to completion in 8 weeks as there was no 3 way conversations via an EA...
Atlas 12v said:
Sold a BTL ourselves using these: https://www.quicklister.co.uk/
An EA will know less about a property than the owner and dealing with the purchaser directly saves load of time. Sold ours from offer to completion in 8 weeks as there was no 3 way conversations via an EA...
Sometimes 3-way conversations make you money. A good agent can often add multiples of the fee to the sale price, with the right property. They can also take the heat out of negotiations: "Tell Mrs Jones to stick her silly offer up her arse" becomes "Mr Smith won't accept your offer and we'd suggest you move nearer the asking price, in order to be taken seriously".An EA will know less about a property than the owner and dealing with the purchaser directly saves load of time. Sold ours from offer to completion in 8 weeks as there was no 3 way conversations via an EA...
The flip side is that a PB vendor has actually paid up front, so might be more committed than someone on 'no deal no fee'?
Also, getting to meet the vendor rather than an EA can be valuable.
It's a complex issue.
One thing to bear in mind is that the uncertainty or negotiation range of a house's value is very often several % more than an agent's commission.
I don't think it's always a no-brainer either way.
Also, getting to meet the vendor rather than an EA can be valuable.
It's a complex issue.
One thing to bear in mind is that the uncertainty or negotiation range of a house's value is very often several % more than an agent's commission.
I don't think it's always a no-brainer either way.
A company once valued at £1.3 billion at it's height, sold to Strike for £1. Tells you all you need to know.
The local guys who value your business and rely on it to pay their own mortgages are usually the best, and not all are "feckless morons" as you so delightfully put it.
But with that attitude, i'd suggest use them, you'll fit right in.
The local guys who value your business and rely on it to pay their own mortgages are usually the best, and not all are "feckless morons" as you so delightfully put it.
But with that attitude, i'd suggest use them, you'll fit right in.
There's an agent round here called Chosen, I think they're local but could be elsewhere. Maybe not a unique business model but they put their fees on the buyer (1%), so unless you're also selling with them (which I guess is the point) you pay two lots of agent fees on completion.
Any house listed with them I immediately skip. I just find it beyond cheeky. People understand you will expect to pay agent fees if you sell. I'm not paying them for you, as well as my own.
Any house listed with them I immediately skip. I just find it beyond cheeky. People understand you will expect to pay agent fees if you sell. I'm not paying them for you, as well as my own.
TimmyMallett said:
I'd be more about preparing myself for the potential stshow that a vendor that uses PB will probably use the cheapest online access only conveyancer they can buy, and the pain in the ass that comes with a vendor like that
I would agree with the above post. Last bought c.five years ago, and actively avoided Purple Bricks listings. Unfairly or not, I took the view that if the vendor was going to skimp on the advertising there were likely a load of other problems under the surface.tshow that a vendor that uses PB will probably use the cheapest online access only conveyancer they can buy, and the pain in the ass that comes with a vendor like thatIn the event went with a very local and very well established agent that generally operates in a very small area around here. The place we bought was also on with them (so the agents were obviously happy) but the whole process was as utterly seamless as a buying/selling process could be with the agent proactively smoothing over potential issues constantly.
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