Real estate disruptor makes further push into US markets

by Steve Randall11 Jan 2018
A disruptor in the real estate brokerage industry has expanded its reach by entering three more markets in California.

Purplebricks already operates in its native UK and Australia and launched in Los Angeles and Orange County in September 2017. It has now expanded to Fresno, Sacramento and San Diego.

The firm aims to shake up the market with a flat seller fee of $3,200 and its US CEO Eric Eckardt says momentum has been steady since the launch in Los Angeles.

The model combines a technology platform and real estate agents who are awarded exclusivity in certain territories.

“We are looking to recruit the very best real estate agents who want to be highly successful and who want to spend their time helping and supporting customers rather than prospecting for leads,” said Purplebricks founder and group CEO Michael Bruce ahead of the launch last year.

Speaking this week about the roll-out of the brand to the three new markets, Mr Bruce said: “We are truly excited about our rapid growth into new markets in California and the pace at which our company is exceeding expectations for the US. The momentum we are experiencing is a direct result of the Local Real Estate Experts we have hired along with our unparalleled technology platform.”

More market update:

Poll

Should CFPB have more supervision over credit agencies?