purplebricks

dprice

Disagree with most of the above.


Recently sold using PB. Sold within 48hrs and got 7k more than asking price.


Local agent had worked in traditional EA's for 10+ years so knew the area etc.....


Fees - Its your choice. You can pay upfront and use your own solicitor or choose to pay on completion but then you must use their solicitors.


Excellent for potential buyers to book viewings 24 hours a day, no waiting for EA's to call you back.


Cant fault them.

borkid

Hi many thanks for the positive comments. One really can't make an informed decision without all the facts!

Innys1

Remember, PB aren't the only online EAs.

Here's a few others:

http://www.upad.co.uk

https://easyproperty.com

https://www.makeurmove.co.uk

https://www.housetree.co.uk

roje

They valued my house at £12k less than estate agents did and £7k less than I actually got for it and insisted their valuation was accurate. They also wanted all the dosh up front. No chance.

DJ_Mike

roje wrote: »

They valued my house at £12k less than estate agents did and £7k less than I actually got for it and insisted their valuation was accurate. They also wanted all the dosh up front. No chance.

So you went with another EA because you liked their (higher) valuation better, but your house still sold for £5k under. Had it gone with Purplebricks you might very well have achieved the same, or more, due to competition between buyers.

Estate agent valuation is very much art, not science.

You are free to tell Purplebricks (or indeed any EA) what price you want to market your property at - they follow your wishes, not the other way around.

roje

DJ_Mike wrote: »

So you went with another EA because you liked their (higher) valuation better, but your house still sold for £5k under. Had it gone with Purplebricks you might very well have achieved the same, or more, due to competition between buyers.

Estate agent valuation is very much art, not science.

You are free to tell Purplebricks (or indeed any EA) what price you want to market your property at - they follow your wishes, not the other way around.

That wasn't really the story the purple bricks agent sold me. I told her I disagreed with her valuation, which was only based on a bit of online research and not on any local knowledge (at her own admission). She agreed to increase it a bit. In my post above I'm already talking about the highest price their agent was happy to market it for (her initial valuation was a full £15k lower than the local EA) . She told me that if I put it on the market for the EAs valuation, it would never sell as it was not worth that much based on the fact that a house in my road sold for less than that price last year. I explained that this owner had been under huge pressure for a fast sale, which she disregarded. She was also disinterested in the fact that my property has an extra bedroom, is an end terrace etc. Turned out she was entirely wrong in her estimates as it sold for £10k above her initial valuation, and £7k more than the 'highest sensible price if you want a sale.' They got it wrong.

Houses in this area are generally taking a while to sell, there are a lot of similar properties currently on the market so the buyers have a big advantage. I managed to get a sale within a month with a small, local EA. I find it difficult to believe that someone who came to view it at her valuation would offer me £7k above asking price in the current climate. It obviously varies by area, though.

densol_2

When I look at houses for sale - I look on Rightmove - I rarely pay attention to the estate agent. It's the house that appeals. I've no plans to sell ( hopefully ever ) but I've just worked out I'd pay £11,000 odd to a traditional agent including VAT at 1.5% and just £798 to Purplebricks. If your house value would produce substantial savings against a % cost - then online must be the obvious choice ? Perhaps if the savings were far less it's more of a conundrum?

DJ_Mike

roje wrote: »

I find it difficult to believe that someone who came to view it at her valuation would offer me £7k above asking price in the current climate. It obviously varies by area, though.

In a slow moving area? Perhaps not. It really depends on how popular your house is as a result of what turns out to be undervaluation. Again, though, you set the asking price - they have to obey your wishes (though any EA will try to persuade you otherwise).

The only value of your home that ultimately matters is the price that someone will pay. Obviously the local EA who had a better 'feel' for it and priced it higher still found you a buyer willing to pay that much - that's not a guarantee. If you'd been sat waiting months for your EA to sell your house you'd be painting a rather different picture!

I don't pretend to know how the market is moving in my area. I've looked up the recent sold prices of other houses and what the current selling prices are, but that's the extent of my knowledge.

Having had 3 EAs (including Purplebricks) value my home within 1-2% of the same value as each other, it gave me the impression that I might as well try the online-only option first.

I'm realistic about this - if my house doesn't sell by this route I'll be going to the EA who sells the most properties in my area next. Given the savings on offer (and the fraction of the cost compared to selling with the local EA) it was worth taking the chance at the risk of spending more.

If I was staring at a much smaller difference in cost between PB and a local EA, I expect I would just go with the latter.

densol_2

http://www.rightmove.co.uk/property-for-sale/property-52937720.html

Noticed this house ( not the most attractive ! ) being marketed by PB and showing sold within a day of listing. Good floor plans

Innys1

densol wrote: »

http://www.rightmove.co.uk/property-for-sale/property-52937720.html

Noticed this house ( not the most attractive ! ) being marketed by PB and showing sold within a day of listing. Good floor plans

If a house is in demand, it doesn't matter what type of agent you use - online or High St.

Moral of the story - make sure your property is sellable and then go with the cheapest agent you can find.