Purple Bricks Commisery

14
Found 22nd Nov 2017
After seeing how many houses Purple Bricks were quickly selling in the neighbourhood, we invited them in for a valuation. We knew the prices other houses were selling for, so expected the same valuation, which we did. We invited another estate agent and he valued it for £40.000 more than Purple Bricks. We thought it was a bit high, but went with it. We got a buyer even before the house went online, and now we are signing contracts in a few days. It made me wonder how much other sellers had lost out on with Purple Bricks.

Even with the extra cost of using a high street estate agent, we are still around £36.000 up. So, we are glad we avoided Purple Bricks.

Has anyone else had similar experiences with estate agents?
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Even high street estate agenrs will value houses very differently.

My friends house was for sale, a very large conversion of a building built for WW2. One thing he noticed was two of the estate agents estimates are much lower, turned out they both calculate the price based on what houses in the area have sold for, despite his house being the only one in the area and garden being twice the size with a private drive. Probably it's the same with Purple bricks, they already have a valuation set before they walk in the door and it's best for there profit if they sell as quickly as possible.
catbeans3 m ago

Even high street estate agenrs will value houses very differently. My …Even high street estate agenrs will value houses very differently. My friends house was for sale, a very large conversion of a building built for WW2. One thing he noticed was two of the estate agents estimates are much lower, turned out they both calculate the price based on what houses in the area have sold for, despite his house being the only one in the area and garden being twice the size with a private drive. Probably it's the same with Purple bricks, they already have a valuation set before they walk in the door and it's best for there profit if they sell as quickly as possible.


I think you are correct. When they phoned me after I booked a visited online, the agent told me what to expect without even viewing the house. Intrestling enough though, she valued it £10.00 less than that.
Edited by: "Predikuesi" 22nd Nov 2017
catbeans3 m ago

Probably it's the same with Purple bricks, they already have a valuation …Probably it's the same with Purple bricks, they already have a valuation set before they walk in the door and it's best for there profit if they sell as quickly as possible.


And bearing in mind their profit is considerably lower than Estate Agents, it brings into question of how realistic it is to achieve a normal market price from them.
Potatoes, you could of listed the same you sold it for on purple bricks and it would of sold, you don't have to go with there valuation, I would imagine the agents for purple bricks are lot less qualified, most buying house websites show purple bricks, depends on the area although as lot of people suprisignly window shop
Creatish24 m ago

Potatoes, you could of listed the same you sold it for on purple bricks …Potatoes, you could of listed the same you sold it for on purple bricks and it would of sold, you don't have to go with there valuation, I would imagine the agents for purple bricks are lot less qualified, most buying house websites show purple bricks, depends on the area although as lot of people suprisignly window shop


We did consider that option, but since the charge was only 1%, we didn’t think it was worth the hassle and the prospect of getting it wrong. Also, we wanted the agents to take viewers around the house rather than doing it ourselves, which in hindsight was the best for us.
Predikuesi19 h, 38 m ago

I think you are correct. When they phoned me after I booked a visited …I think you are correct. When they phoned me after I booked a visited online, the agent told me what to expect without even viewing the house. Intrestling enough though, she valued it £10.00 less than that.


but couldn't you have chosen to sell it for the higher valuation through Purple Bricks?
You should've tried at even higher price if it sold that quick. You maybe lost out on £10 grand .
Haven't bought a house in ages. What kind of commision is being charged these days?
Is it still around 1.5% ?
We are looking to buy a house at the moment and saw one last week where the seller had put the property on with purplebricks. I felt disheartened when i saw this as i had read negative reviews about purplebricks and did not want to deal with them.

In this instance, they had over valued the house rather undervalued. It is interesting that your experience is the opposite. The estate agent did not come across as personable so wasn't the best sales person. he didn't seem that interested in selling the house, unlike other agents that i have spoken to when viewing properties. I would not use them to sell a property.
mutley118 m ago

We are looking to buy a house at the moment and saw one last week where …We are looking to buy a house at the moment and saw one last week where the seller had put the property on with purplebricks. I felt disheartened when i saw this as i had read negative reviews about purplebricks and did not want to deal with them.In this instance, they had over valued the house rather undervalued. It is interesting that your experience is the opposite. The estate agent did not come across as personable so wasn't the best sales person. he didn't seem that interested in selling the house, unlike other agents that i have spoken to when viewing properties. I would not use them to sell a property.


I saw the same with a house locally, overvalued/over-priced on PB and then I saw it relisted at a lower price with a regular estate agent.
davewave10 h, 39 m ago

but couldn't you have chosen to sell it for the higher valuation through …but couldn't you have chosen to sell it for the higher valuation through Purple Bricks?


airfix10 h, 7 m ago

You should've tried at even higher price if it sold that quick. You maybe …You should've tried at even higher price if it sold that quick. You maybe lost out on £10 grand .



No house in the neighbourhood goes for any more than we received, so I don’t think the £10.000 extra would have been achievable. Purple Bricks wanted a £1,250 non-refundable fee (if the house didn’t sell we would lose that sum), plus another £300 to have one of their agents show buyers around the house. It cost us around £500 more to go with the high street estate agent.
Predikuesi9 h, 6 m ago

No house in the neighbourhood goes for any more than we received, so I …No house in the neighbourhood goes for any more than we received, so I don’t think the £10.000 extra would have been achievable. Purple Bricks wanted a £1,250 non-refundable fee (if the house didn’t sell we would lose that sum), plus another £300 to have one of their agents show buyers around the house. It cost us around £500 more to go with the high street estate agent.


fair enough, good luck with the move.
Destard21 h, 6 m ago

Haven't bought a house in ages. What kind of commision is being charged …Haven't bought a house in ages. What kind of commision is being charged these days?Is it still around 1.5% ?


Variable from 1 - 3% depending on competition and house value

Eg. No-one will offer 1% on a £50k flat but quite achievable on a £800k house
Purple bricks agents have to work a much wider area, as a result they won't be as spot on with valuations compared to a high street agent that exclusively covers that part of town (not that even they get it right).

2-3 high street agent valuations, then a purple bricks or equivalent one is probably best. Particularly if the house will sell itself as it often can.
Edited by: "delusion" 24th Nov 2017
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