Purplebricks announces launch of Purplebricks Plus

Fixed fee agency Purplebricks have announced the launch of a new service for customers in the UK.

In an interview given to the Press Association, the agency said it plans to secure 10 per cent of the agency market share in the UK and launch Purplebricks Plus by April 2019.

No details of the product have been provided yet, other than a comment by Purplebricks CEO Michael Bruce who says Purplebricks Plus will be an online platform which allows sellers to view domestic suppliers on one dashboard.

Mr Bruce said the move would allow the agency to stay in seller’s minds outside of the house moving process and foster a ‘long lifetime relationship’ with customers.

After a £125m investment earlier this year from the German publishing giant Axel Springer, it’s thought the agency will be looking at further expansion into Europe over the next years. Currently the key markets for Purplebricks are the UK, the US and Australia.

Mr Bruce also said at the conference the agency is interested in acquisitions going forward, rather than starting in a new market from scratch.

Currently the agency is thought to have approximately seven per cent market share in the UK, which they’re hoping to increase to 10 per cent in the coming months.

The agency has already proven its desire to expand into other countries, snapping up Canadian-based DuProprio/ComFree (DPCF) earlier this year for approximately US$51 million.

DPCF controls around a fifth of the property market in Quebec and operates a commission-free real estate service. In 2017 they career approximately 39,000 listings.

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Hannah Blackiston

Hannah Blackiston was an in-house journalist with Elite Agent. She worked with the company from January 2018 to January 2019.