It’s official, the new kids on the property block are beating the old guard of high street estate agents at their own game – or so the media hype would have us believe. is how the guardian advertorial starts off,
Yes online estate agents "maybe" ,making inroads into real estate , though Solihull-based high profile online estate agents purplebricks, New Broom Ltd, were recently hauled in front of the Advertising Standards Authority (ASA).
Two ads by the online estate agency PurpleBricks [PURP]have been banned, complaints were made to the regulator by members of the public regarding a television advert and an online campaign by PurpleBricks.
The regulator ruled that, as customers would be charged a mandatory fee within ten months of their agreement with PurpleBricks, the company's claim of "no upfront fees" was misleading.
For a company who continually harks on about their public business transparency,it will be a bitter pill, for CEO Micheal Bruce to swallow.
Business expansion and increased marketing spend have continued , the company, which was only founded in April 2014, made a bigger loss in 2015 , £6.4m, down from £2.5m in the first half of the 2015 financial year.Marketing spend has increased from £1.1m to £6.6m.
PURP also split from it's advertising agency recently , with marketing spend at an estimated £1m on TV advertising alone, some analysts have gone onto criticise purple bricks excess. If you add into the mix with PURP , their media team consisting of ex virgin media and price comparison site marketing execs ,which don't come cheap. At a time when many startups are going marketing lean .It will be hard to justify these frivolous extravagances, to many share holders, let alone the ASA debacle, considering their executives so called experience, within the industry. The loss in consumer confidence, will also be hard to win back, as with all business start ups consumer relationships are paramount.
The Bruce brothers need to wake up and smell the coffee, experience from space ships ,V festivals, consumer site debacles don't run parallel to selling homes.
PURP , currently has negative earnings and continues expanding the business , with capital raised at IPO launch, which begs many to believe the stock is immensely over valued. There are many other national online estate agents, who are also cutting into PB market share.
dumb and dumber
Their are also a whole bunch of diverse online agents such like Iamtheagent , homecloud who can all can be found on leading portals rightmove and zoopla.co.uk.
True hybrid estate agents
Then there are smaller independent agents who are true hybrid estate agents, having physical offices with fixed fees, as opposed to commissioned based fees .North East firm distriktonline.co.uk may be small in contrast to national online brands ,but has a six figure turnover with plans to expand.
UrPad Online new Hybrid online estate agent recently rolled out its new office in Wales already having two others , the south west and Bristol. Upestates Online estate agency will also be expanding with 7 new offices in Birmingham Leicester & Nottingham
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House prices update February 2016 from Land Registry
Underwriting standards for buy-to-let mortgage contracts ,– CP11/16,PRA ,Bank of England warnings on Brexit ,clamp down on buy-to-let mortgages
Hometrack UK Cities House Price Index February 2016 , reports unseasonal acceleration in house price growth across UK cities in last three months
renting your property to short-term is a booming market: Nine top tips for Airbnb property letting success ex husband was deliberately run over in car, by estate agent multiple times
UrPad Online new Hybrid online estate agent for Wales ,rolled out by Property Industry Experts,Caerphilly
easyProperty a 20 20 vision Yahoo Google Bing , Zoopla, Rightmove, Facebook ,twitter
online estate agent settled.co.uk takes on high street receiving more funding
Former Cricket Team Aces Join the Online EstateAgent business model thehomecloud.co.uk
Tepilo.com online real estateagent sees 400% increase in turnover with £10m target set for 2016
Barclay Brothers son's YOPA , expanding into the Midlands
Upestates Online estate agency & will be expanding with 7 new offices in Birmingham Leicester & Nottingham
coca cola tango free fall on Osbornes sugar tax & How Jamie Oliver made the big boys listen
New UK Property App Development Service For Estate Agents launched by iDevelopers
PurpleBricks change marketing strategy
shock horror Hang on ,,,Why Land Registry Privitisation, is a good thing & long over due
easyProperty a 20 20 vision Yahoo Google Bing , Zoopla, Rightmove, Facebook ,twitter
Canada’s House Price Dilemma >Monetary Policy and Financial Stability
Zac GoldSmith > Launches Housing Manifesto > off plan mortgages high street lenders, government & 6 London Local Authority pension funds
Purplebricks - And the teams just keep on growing! - online hybrid estate agent @onthemarketblog
Housing Minister Brandon Lewis' speech outlines the government's housing aims including its intention to deliver 1 million homes by 2021
Global demand for prefabricated housing is forecast to increase 2.7% per annum through 2019 to 3.4 million units
David Bowie, Beautiful, Romantic Mustique ,stunning , Caribbean Villa designed by Arne Hasselqvist
UK house prices increased by 7.9% in the year to January 2016, up from 6.7% in the year to December 2015.
Average British home price, tips over 300,000 pounds @onthemarketblog
Running Costs - Zoopla tool, Phil Spencer explains, Dan the Detective Zoopla new TV advert
Shelter launch Great Home Debate ,Ellie Goulding shows her support on twitter social media UK
current account deficit has partial defence against shock says BoE's Forbes
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David and Samantha , morning after: how Brexit divorce gets messyPropTech ,WILL change ,the global economy“beyond recognition” Rics at MIPIMconference
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Video Bank of England Mark Carney Governor quizzed on the risks of Brexit ,Sir Jon Cunliffe
Cyber Criminals Phishing Scam Email, targets rightmove property portal, inc other property sites
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coca cola tango free fall on Osbornes sugar tax
Good News for Airbnb Londoners - online MicroEntreprenuers
AirBnb / online, Ebay Amazon Start Up, micro-entrepreneurs rent property income, internet ,homes
#Budget2016 George Osborne ,Stamp Duty Surcharge ,Tax, Capital Gains Tax,Housebuilding
UrPad Online new Hybrid online estate agent for Wales ,rolled out by Property Industry Experts,Caerphilly
Facebook Founder Zuckerberg settles dispute with no pay out to property developer Voskerician
new affordable housing hits record low in london data shows
Days of Chaps payment numbered ,Central banks rival Bitcoin new RSCoin super currency
what the VLOG ? London property developers, Hackney Dalston E8 Vibe illusion
technology law - eddies from property portals boliga.dk and now zoopla.co.uk
Online estate agents, expecting sales bonaza, as sellers shun costly high street rivals
A Welsh developer of student accommodation ,plans March 2016 IPO + Wales tallest building
Help to Buy: mortgage guarantee scheme, Quarterly Statistics, March 2016
number of high street estate agents going bust up 16% , online estate agents market share up dictated by consumer not industry
NHBC NEW HOME STATISTICS ANNUAL REVIEW 2015,English Housing, Papworth Disability Trust ,Joseph Rowntree & Bungalows !
why Frank Whittle and the Saville row tailor have more in common with Warren Buffet
FT first 'Rightmove maintains grip in battle of property portals @onthemarketblog
Brick-And-Mortar Crumbling? Don't Believe It > Forbes > Leadership
Foxtons high street estate agent facing landmark claim for £2million from group of 55 landlords
Building a new deal for London: Final report of the London Housing Commission
'Kleptocracy tours' 35,000 London properties currently have unknown offshore owners.
Pop-up housing could cut cost of London’s rental market & help UK housing Crisis
Chinese hunt for property bargains in Manchester amongst others say Pinnacle Alliance Property Developer
Property pain Investigation ,service charges increasing rapidly with 30 % of firms increasing fees
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Private rental prices grew by 2.7% in England
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