Purplebricks has this morning announced a drive to recruit “hundreds” of new Local Property Experts” in a bid to become what it calls “the biggest estate agent in the UK.
Michael Bruce - the Purplebricks founder now described as Global Chief Executive Officer - says: “Our quest for more talented Local Property Experts is a direct result of overwhelming customer demand. People now have a great alternative to the traditional estate agent – one that will save them loads of commisery and give them a brilliant service.”
The announcement from the hybrid agency claims that LPEs “are experienced professionals who cover dedicated, local postcode areas and tend to earn significantly more than they did when an estate agent on the high street.”
Yesterday we reported that one analysis of recent figures from the agency suggest LPEs earn around £42,000 per year on average.
“They typically have five years’ estate agency experience and many of them are former valuation managers, branch managers or area managers with high street agents” claims this morning’s Purplebricks announcement.
Bruce adds in the statement: “Customers love our passion for service and our willingness to go the extra mile. We want to work with people who focus on people, not just property.
“In return, we offer our Local Property Experts the support and flexibility to grow a successful business, the chance to reap the rewards of their hard work and the opportunity to join an exciting global business that is transforming an industry.”
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Big bubbles no troubles, ok lots of troubles ahead for PB but let's keep this light. It's a very good thing for very good estate agents that's the main thing, it will steal instructions from weaker competitors and then present them back when the purple shine wears off
I know someone commented last week about PB paying you guys to promote them and I thought no BUT come on you are the PR Machine for them now !!!
In fairness, PB are striking while the iron is hot and interest in them is incredibly high. A few years ago it was Foxtons, a few months ago it was Countrywide, for a while it was Zoopla's tedious bunfight with OTM.
At the moment, there is considerable interest in PB and its operations. As such, lots of press coverage. That will die down soon enough. But PB do have a very effective PR and marketing strategy and are very good at getting their name out there. On an online trade news site, I'd expect there to be plenty of news about PB, given its current high profile and some of the (slightly ludicrous and premature) statements it's making.
Nothing above suggests an endorsement of PB or a puff piece - it's just reporting the latest news. Which, I suggest, will not be met with much positivity by the industry.
Perhaps anyone thinking of joining should check the most recent Allagents reviews.....
In my experience, Allagents reviews are about as trustworthy as a headline in The Sun or the Daily Mail. Take everything on that site with a massive pinch of salt.
Oh of course all 25 of them compared to the 21000 on trust pilot! Get a grip
As someone posted yesterday, PB thrive off criticism and division. That's what it wants. It wants to be underestimated. It wants other agents to argue amongst themselves.
Whatever you think of PB, though, it can no longer be ignored. I'm not a big fan of its business model, its relentless PR drive, its awful adverts, or its patronising, deceitful "It's not about the commission with us, it's more about caring about the people" spiel (yeah, right!), but the fact that they are riling so many in the industry up and achieving recognition is a sign that they shouldn't be dismissed. Take the fight to PB, don't just look to do it down.
"one analysis of recent figures from the agency suggest LPEs earn around £42,000 per year on average". Having read the article it seems based mainly on assumption and not hard verifyable figures provided directly by PB. But even if the figure was an accurate representation for the average LPE and if that is a gross figure, then we must assume it would be pior to the LPE's operating expenses whatever those may be and then what is left presumably subject to Tax and NI so I suspect the true net earnings would be considerably lower.
Further, I would guess by now that the best franchise areas would already have been taken and have establised Principal LPE's who would be looking to add addition LPE's of there own in an attemp to build a team. My own experience of these kind of business models is that the LPE's will be taking much of the risk on a self employed status and as such the turnover in these people wil be high. Which may explain the current recruitment drive.
I agree with Algarve on this one.
Over two years ago it became blatantly obvious that the PB spiel was gaining huge traction. What did the large corporates do about it.....nothing-too big to fail rings a bell? Actually that's unfair, Countrywide did do something about it ......just the wrong thing.
Makes you wonder how disconnected some of the corporate management really is-is there not a form for that ?
PB provides good gossip though, gives us all something to think about and talk about now that OTM has got boring
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