purple bricks v high street agent?

9
Found 23rd Jun 2017
Hi,

Considering putting our house in the market, the local estate agents seem to have colluded all having decided to charge 1% commission plus vat. Meaning approx £2400 in fees.

Am I right to consider purple bricks? Or will I regret it? Is there another option?

Thanks

Dan
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9 Comments
this is my opinion and others may differ. if you are in an area where houses sell fast , you are not in a hurry or you will not have a long chain then purple bricks are fine. their sales team are strong but back end team not as good and you may have to do more chasing up and admin yourself. We found they valued our property £20k less than what we actually got. our estate agents did a lot of chasing and negotiating on price for us and our sale went through in 7 weeks. We negotiated 0.75% and informed them we would use purple bricks if they wouldn't do the 0.75. They are all looking for business so may be willing to negotiate.
You're certainly better off with an online agent rather than a bottom feeder. I've used both iamtheagent (£299 total.. free board, you post your own desc & pics on an online account) and hatched, both are very good if you're prepared to sort your own viewings. It's really all about online exposure and the online agents will get you onto the popular websites. There's also ownersellers which look interesting (they claim to be free). I've experienced purple bricks as a buyer and wasn't impressed as I contacted via rightmove and nobody responded... might have been a one off though??
Sold two properties through purple bricks and can't really fault them.
With regards to valuation you get to have a final say on how much you want to put it on the market for, as purple bricks do value the property lower then high street agents. So I just increased it by 10k. If you want to use your own conveyancing solicitors you will need to pay their costs upfront. I found the first time round that if you defer payment to when the property sells you have to use their solicitors and their fees are about £200 more. If you want to break that Contract you have to pay about £300. So I used my own solicitors second time round. You can also opt to do your own viewings or pay approx £300 for purple bricks to do it.

Put it this way, you have been quoted over £2k just for high street agent. I paid £1.3k for purple bricks (Inc them to do viewings) and £750 for their solicitors. Hope this helps but this is just my opinion!
If you haggle with the agents you will get 0.75%. They get involved more with the after sale service where purple bricks and the others either won't or if they do it will be harder as you will be speaking to different people on the phone. You may not like agents but at the end of the day they are local people living in your street and supporting your local community. KEEP IT LOCAL!
We used emoov - no problems whatsoever - great price, fantastic staff, really helpful and doing lots of negotiating. Even better, they are open when local agents aren't, ie, Sunday's, some bank hols, even Xmas (which was great for us as we sold few days before and wanted to get things moving!)
foxyladykezza

We used emoov - no problems whatsoever - great price, fantastic staff, … We used emoov - no problems whatsoever - great price, fantastic staff, really helpful and doing lots of negotiating. Even better, they are open when local agents aren't, ie, Sunday's, some bank hols, even Xmas (which was great for us as we sold few days before and wanted to get things moving!)



​i can assure you, that nothing got 'moving' on Christmas day. the process would not have gone any quicker doing it on Christmas day than it would have been doing it on the next working day.
I work for a local agent, however I love purple bricks business model. properties priced correctly to sell, good advertising and local agents selling without the overheads of an office. I wish I was not going up against agents who over value properties to get them on the market.
I looked at purple bricks when i sold my house in london this year and was put off by the negative reviews. I chose a local high street estate agent. I am glad I did, as they had to work hard to sell the house and achieve a good price for it. I doubt purple bricks could have provided this sales effort.

I was happy to pay their fees as I felt they achieved a good price for me. My house was very expensive so it was worthwhile for me to pay the high fees as the difference in offers coming in alone could actually buy a few houses in other parts of the country! so we are talking hundreds of thousands of pounds in differences in offer price!

Yours appear to be around £200K from your fee quote, so at this price you may not consider the estate will be able to achieve that much difference to a bog standard internet agent. I believe that purple bricks charge you the fee upfront whether the property sells or not, whereas high street estate agents only charge if the property sells.

With this ethos, I would worry that once purple bricks have your money, their enthusiasm to sell your property becomes less enthusiastic. Unless I have misunderstood their fee structure.
How you will perceive purple bricks will depend on how good the local agent is imo. We sold through them last year, agent was excellent (we went with them after he had shown us properties) and will do so again with the current property.

That said weve looked at a property in a different area and wouldnt have used them based on that experience and that agent.

For either I would get your own conveyancing solicitor rather than using theirs.
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