A presentation by data analyst TwentyCi to Purplebricks appears to show just how much the online disruptor is running rings round its corporate competition.
The presentation names Purplebricks’ nearest competitor during its last financial year as William H Brown.
The Connells Group Sequence brand came second to Purplebricks in terms of available stock, new instructions, SSTCs and exchanges in the period May 2018 to April this year.
Even so, as the inter-company presentation on the latest TwentyCi research obtained by EYE shows, there was a huge gulf between Purplebricks and any of its named corporate competitors.
Purplebricks had over 90,000 available stock during the year; 70,000 new instructions; over 50,000 SSTCs; and under 50,000 exchanges.
By contrast, the corresponding figures for William H Brown were respectively some 35,000; around 25,000; and the last two about 15,000 each.
The same chart shows that Your Move, Hunters, Connells and Hart were next in terms of the same measurements.
The report from TwentyCi was commissioned by Purplebricks and despite requests we have not been able to see this.
However in the slides presentation that we have obtained, TwentyCi said its analysis mostly used the top 50 estate agent brands in the UK: in terms of new instructions, this was 25.9% of the market.
In terms of conversions, the presentation – shared by TwentyCi with Purplebricks – shows that Purplebricks had a 75% conversion rate. Next came Reeds Rains, Yopa and Your Move, all with conversion rates of around 60%.
The presentation also has a slide showing that 77% of all Purplebricks listings instructed in May 2018 sold within 12 months, with over a half selling within two months.
Purplebricks’ 77% selling rate of May 2018 instructions is closely matched by Reeds Rains and William H Brown selling 72% of their instructions over the same time.
Notably the TwentyCi presentation compares Purplebricks’ performance only with the larger corporate and near-corporate brands – and not with any independents.
EYE is also asking the corporates how they think their own figures compare.
Slide claiming Purplebricks’ dominance of the corporate market below – the full presentation is in the pdf is at the link
Comments (72)
We need a GoFundMe page to raise funds for Michelle Lockwood’s long overdue treatment.
or paracetamol bundle for her impending hangover
Shock horror PB share price is going down. Closed lower than starting today and 6% down from yesterday. Seems no-one believes in fairy tales and about time.
Blah, blah, blah, beige woodentop
It looks like the TwentyCi data may prove to be a double-edged sword for PB.
The data in this years report is more useful as it shows available stock at 92k and exchanged 48k, which means 52% actually sold and the other 48% paid for nothing more than a RM advert.
For the previous year the available stock is not recorded by TwentyCI, but a conservative figure of 80k against 38k exchanged, means only 48% sold and the remaining 52% got sod all.
So the 50/50 Coin Toss is the perfect PMA presentation for competitors – Heads or Tails Mr/s Vendor?
The markets haven’t fallen for it, share price dropped again today and currently below this mornings starting figure.
The prophet is noticeable by absence. Matthew 24:11 “And many false prophets shall rise, and shall deceive many”. In Sdaltaf101 case, I don’t think anyone was deceived but himself.
Quoting the Bible? That’s brilliant coming from someone who works in an industry that’s famous for breaking several of the commandments
Michelle,
You are Back, trolling everyone again, i assumed you had started writing your CV after the £51 Million losses. You ask people to read and digest, but you cant spell? You bring out the same lines over and over again, and as the evening goes on the rambling becomes more abusive and pathetic.
I picture a very sad lady with some cats, a bottle of Gin sat in front of a laptop trolling people to make her life feel a little bit better than reality.
I don’t think you understand that the whole site is just laughing at you rather than with you, you are the gift that keeps on giving.
Let me just re – post my response to a previous PB statement making out they are ‘simply the best’
‘Since I first got into agency 16 odd years ago, the general mantra has always been don’t bad mouth the competition, focus on delivering the best service and sell the benefits of your own business and you will succeed. What worries me is that time and again PB are not taken to task over misleading claims and false advertising. The general public continually buy into these mass marketing pushes and of course don’t see the negatives until the upfront payment has been made. The LPE in our area is claiming to have sold more properties in the City year to date than any other agent using Rightmove figures comparing PB’s 270 odd sales to the next nearest agent. Unfortunately they neglect to mention (or don’t understand) that PB is registered as one branch with RM whilst we have 7 across the same area. Add up each of our 7 branches and we outsell PB by 2 to 1. The general public however buy into this claim and more and more sign up to throw their money away. I am aware that this isn’t a new tactic but with PB it is taken to a nationwide extreme. Until the ASA, trading standards or the NAEA get involved, this steam roller of unethical marketing is going to continue and damage the reputation of the (already historically under fire) industry to a degree that it may never recover from. Don’t get me wrong, the Bruce brothers have pulled off an incredible feat from a business point of view and as much as it sticks in the throat I don’t blame them for spotting a money making idea and exploiting it to the full, but the current cult that has been developed in the training procedure at PB has now exploded an awful lot of brainwashed LPE’S out into the world.’ It’s the same principle on a national scale. You can’t compare one brand of a corporate to the whole of PB individually.
With the over seas expansion programme panned we are going to be seeing alot more of this Bullsh*t in the UK as they try to claw some profit out.
Agree. Would also be interesting to know whether their figures include sales made by the agents that actually do finally sell PBs properties. Loads of examples on Rightmove etc but PIE doesn’t allow links (look up Richmond Road maisonette and Cowper Road flat in Worthing) Sold by others but original PB listing also shows Sold – no doubt PB are taking credit for sales on the basis that both listings are shown as ‘sold’ on portals. I’m sure others see this type of double listing of sales in their areas where PB is involved, all of which drives the wild claims, unreliable data and misleading of the general public as you say.
…….. the Bruce brothers have pulled off an incredible feat from a business point of view and as much as it sticks in the throat I don’t blame them for spotting a money making idea and exploiting it to the full, ……….
I would just like to add this comment, which I have already posted yesterday but for those that missed it, it is relevant to post again …
This is what KB posted on PB own web site …….
Estate agents are right up there with bankers, when it comes to the UK public choosing which professions they dislike the most.
Greed is a common gripe about bankers – paying themselves massive bonuses, even when the bank they are working for has made a huge loss. Where is the logic in that?
Kenny Bruce
Let me repost my reply to your last rant…..
Blah, blah, blah, beige.
Another coherent and well structured contribution to the ongoing discussion. Thanks for stopping by.
This is pretty useless information. Who cares how much stock they have.
We should be looking at stats like the time it takes from instruction to sale and sale to completion.
A good agent will get a better price and progress the sale much better than any PB sale.
Agree, but it is notable that in their own graph PB are the only agent that show a big drop between SSTC and Exchanged suggesting that their definition of a Sale is not in line with the rest of us
Another example of someone who can’t be bothered to read an article but has an opinion. My 8 year old would be happy to explain it to you Ted.Nugents.Shirt
The report from TwentyCi was commissioned by Purplebricks and despite requests we have not been able to see this.
At which point does anyone believe anything that has been commissioned by a company that has a history!
What has TwentyCi got to hide, if their evidence cannot be scrutinised?
EU Market Abuse Regulations comes to mind!!! Using its own NATIONAL data against non-national agents is misleading and dishonest? If they want to compare with Connells or LSL agents etc then only with the data from LPE’s in that same area. AND as many indepenedent agents in many areas are even ahead of the corporates ……… the report is a manipulated farce.
PIE has seen it. Send me your email address and I’ll forward you a copy. I bet you don’t reply.
Wow… you are boring
Am I the only person who’s sick and tired of seeing stories about PB every day? Stop giving these people oxygen – It’s just free advertising for them.
Its agents that put the brakes on letting them get away with misinformation and duping investors and consumers as they please.
How is it advertising for them? Half a dozen old school estate agents who think option is a substitute for fact??
I don’t believe a word of it, there is no way Reeds Rains and Your Move have a 60% sale to instruction ratio.
Arc. You don’t have to believe it. Just read it and have a weep in private
They lost £52+MILLION.
What’s the TwentyCi take on their cash burn rate? Still trading by Christmas?
Mark Walker2
Read the annual repprt. It’s infuriating having to read your naive and ill considered comments
P.s. is the no.2 in your name a reflection of your abilities?
‘It’s infuriating having to read your naive and ill considered comments‘
Then don’t, bozo.
TwentyCi being as credible as ever.
What are you credentials Property Pundit?
Tell us who you are and why you seem to know it all
Reading your comments on here is like watching ‘Edna the inebriate woman’.
Hey look at that! Martin & Co made it onto the list. Not bad for the “UK”s No.1 Letting Agent” which only began to diversify into estate agency in 2013.
Well done Martin and co
To be fair, Purplebricks aren’t estate agents
PB LPE’s? hopefully they don’t tell anyone what they do, the weight of embarrassment that they carry must be crushing them
At least professional estate agents can look down and see LPE’s far, far below them
More experienced, better trained and more intelligent than you GeorgeOrwell
You’re an idiot
No Michelle, YOU’RE the idiot.
Your incessant incoherent drunken ramblings and personal insults are very tiresome.
You keep calling for people to give you their business details, experience and figures. What are yours? Lets see your bottom line, and your clearly amazing business acumen.
It’s dinosaurs like you, burying their head in the Blue Nun whilst bleating on about the so called new hotness without having a clear grasp on reality.
It’s another year, another internet agent professing they will be the end of REAL estate agents, yet the market share is still the same, as it was.
Now do ****** off and bother some other forum, Troll.
It’s a little unusual that you lot jump onto anything negative about PB and claim it as fact yet when a positive article is posted it’s all lies and misleading. Sounds like the act of cowards to me
I take it that ‘you lot’ means proper full service pay on results estate agents – and that, by inference, you aren’t one?
It’s clear that Connells and Countrywide have been divided into separate Brands. Fox and Sons, Bairstow Eves and any other brands figures are regionalised whereas PurpleBricks results are a national total.
Not really a case of jumping onto Purple Bricks, just want to see oranges compared to oranges, so to speak.
The reality is that whether it be PurpleBricks. LSL or Countrywide, none of them have produced year end figures that show a healthy profitable business.
As with all of them, singular portion of the results are highlighted and presented in positive way to hide the less palatable parts.
If the hierarchy of PurpleBricks honestly believe this hype, then perhaps they are as delusional as the Directors of Countrywide who believed they were worth a £20m bonus when the “Back to Basics” Plan bore fruit.
Can’t remember the exact figure, but 50m odd worth of profit at connells wasn’t bad going
True, which is why I did not state Connells 🙂
Well said! In fact I’m beginning to realise it’s the same names every time. Dinosaurs fighting extinction.
Clearly paleontolgy isn’t your strong point, ‘Michelle Lockwood’.
Nor is fighting inebriation.
The 77% referred to instructions taken on within the month of May, as I read it and not the whole years conversion however there are a lot of you kidding yourselves and grasping at straws, has any other corporate taken on 70000 instructions? I think it’s the only figure that isn’t in dispute, and let’s be honest boys n girls, wouldn’t we all like 70000 first bites at the cherry!!
Also why May to April that’s PB cherry picking their best 12 month period for this report, don’t we measure our results on a tax year or even Jan to December?
A bit like Ocado saying Nationally they’re better that Tesco’s in East Anglia.
Purplebricks and misleading data go together like Hall & Oates
“Purplebricks and misleading data go together like Hall & Oates”
No.
People knew what they were getting with Hall & Oates.
They didn’t have to buy their record to then find out they couldn’t sing or play music.
I’d of said more Milli Vannilli?
Apologies – my post wasn’t as clear as I should have made it.
I didn’t actually mean H&O couldn’t sing or play – I was pointing out that the public knew upfront what they were getting when they forked out their hard-earned cash for an album…
…unlike forking out for a CCILF to “sell” your home/pwoperdee/’pwoject” *delete where applicable.
I quite like H&O, actually.
And one of their records relates uncannily to this article, as, if asked by Frau Renshaw whether there was any comment to be made that some people might suggest the figures in the report are nothing but abject *********** (credit: Jonnie), the response might well have been
“Some Things Are Better Left Unsaid”.
(from the album Bam Bam Boom, 2004)
Purple Bricks as interpreted by Hall and Oates, that could catch on……
I can’t go for that Nooooooooooooooo No can do
Watch out boy ( seller ) she’ll chew you up
PeeBee still hasn’t managed to disprove any statement bit he still bleets on like a child who’s dropped his ice-cream
That would be “but” and “bleats”
More care, less haste, ‘Michelle Lockwood’.
And less alcohol.
MUCH less.
Put the number of listings to one side for a minute – who’s making money and who’s frittering away shed loads?
Read their annual statement. They’re not losingoney in the UK, they’re in profit.
I love that you want to “Put the number of listings to one side for a minute”
You’re sounding Yeaha little yeah but, no but
I’m all for a good statistic, but let’s pick out a few of the key facts
1. All this listing data from TwentyCI is scraped from the portals and therefore can be easily gamed
2. It splits out the corporate brands by individual therefore very misleading
3. SSTC analysis using scraped data is so unreliable it’s not even remotely accurate
4. Are sold properties tracked back to who listed OR re-listed with another agent
very misleading and I’d take with a pinch of salt
Are sold properties tracked back to who listed OR re-listed with another agent
You seem to know it all; why are you asking? Why don’t you just make assumptions; that’s more your style.
But what happens when the data is cut to show the *actual* corporate entity ie Countrywide, LSL, Connells overall? Surely if we’re comparing ‘corporates’ this analysis needs to be company vs company not brand vs brand?
Then it’s a very different story and is hardly the headline grabber that PB purely seeks.
Where’s the corporate fight-back? …. I’ll wait
No fight left in them. The High street model has a terminal prognosis. You can’t offer anything more to justify your high fees
Someone from Cubitt and West tried to justify their high fees by saying ” we have lovely branch; you can pop in for a coffee whenever you like”
Very expensive coffee
Being the best of the worst is hardly the greatest of accolades is it?
This online shower still can’t muster up more than 5% market share between them!
The truth will out……
Being the best of the worst is hardly the greatest of accolades is it?
This online shower still can’t
What’s your market share???
All these claims but still nothing from TwentyCI or Purplebricks about the methodology, sampling, data sources etc. The silence speaks volumes.
Read the entire report. Send me your email address and I’ll forward it to you
Hi Michelle, As you seem to have all the numbers to hand Could you send me the Exact numbers for, Instructed numbers, SSTC only via PB, not sold by another agent, and of those houses sold by PB Exact completion numbers. Happy with this year so far, or even last year, whatever suits you really Happy to send email address if these EXACT numbers can be provided, this shouldnt be difficult for PB as the “HONEST” agent saving people from the the “Horrible” High street
To save you some time, your stock answer seems to be “tell me yours” well I will indeed be happy too, but I asked first!
72% may well be sold but this figure includes multi listings where other agents sold the property.
Where does it say that smile please?
You seem to be making it up as you go. Something we’re all used to having read your previous comments.
Read, digest, understand, comment.
“77% of Purplebricks’ listings are sold within 12 months, with the next best brands (Reeds Rains and William H Brown) selling 72% of all their instructions in the same period of time”
Can anyone at RR or WHB confirm the 72% and how it is calculated?
Surely the correct figures to use are UCX/Stock which appears to be approx. 48k/92k = 52%.
Commission your own research if you don’t like the results
I don’t need to, Michelle, the slide in the article above confirms what we already know – using PB is a “coin-toss”
It looks like you avoided my comment further down this thread, so I will repeat it for you here 🙂
————————————————————————————————————————————————————–
It looks like the TwentyCi data may prove to be a double-edged sword for PB.
The data in this years report is more useful as it shows available stock at 92k and exchanged 48k, which means 52% actually sold and the other 48% paid for nothing more than a RM advert.
For the previous year the available stock is not recorded by TwentyCI, but a conservative figure of 80k against 38k exchanged, means only 48% sold and the remaining 52% got sod all.
So the 50/50 Coin Toss is the perfect PMA presentation for competitors – Heads or Tails Mr/s Vendor?
Ostrich17 HOW DARE YOU?
How dare you ask Michelle a sensible and well thought out question!
Surely by now we can see much like PB asking a very sensible question that is very easy to answer is just not fair, when in PB’s case they can just spin a load of B***S**t, and in Michelle’s case she can troll everyone with her utter nonsense, with no substance whatsoever.
I think the reality is they sell far below 50% especially this year, but it wouldn’t report well that all UK profits come from the Victims they dupe.
Andtheyareoff
You may be correct that they really sell less than half, I am simply using the figures displayed in the graph above. Selling 48k of 92k available properties is 52%.
I think we ALL know (yes, you as well NTSLEAT/TPoS/ASA/NFoPP) that some of the stats bandied about by PB are complete nonsense. However, this cannot be ignored forever, PB are going through a regime change and will have to start coming clean to distance themselves from the “old guard” if they are going to have any credibility with financial backers and/or their new owners.
There is also the effect their behaviour has on other businesses (e.g. TP/TwentyCi), who also need to protect their own reputations, which may become tarred by association. These companies will not want to alienate other potential customers or clients, so will pressure PB to behave.
As for Michelle, and the other Purple People who have recently started trolling this forum, they clearly are grieving for the loss of their cult. We should help them and guide them to that “path of enlightenment” which they seek 🙂
TwentyCi is also misleading the public by not comparing like for like on service.
They should break down each postcode then see how many instructions or deals have actually been done by the PB/DIY model
Then TwentyCi can do a full analysis of PB/DIY vs Local Agent Estate Agents and you will see the numbers will not even be worth reporting.
Amazing that a hand ful of staff are providing the same service that 1000’s do in a real agency.
Why is that big black hole not being exposed more often by regulators or trading standards.
One Blessed n the eye for Bless You & Property Poke In The Eye.
Commission your own research if you don’t like the results
Without being rude Michelle, why cant PB just tell everyone what their actual SSTC and Completion figures, without including other agents selling for them?
The TwentyCi numbers are vague and a little mis-leading. If the numbers are as good as you seem to think I would be publishing them in a very clear way.
Its the question you and PB seem most afraid of but why? at some stage the truth will come out lets hope you haven’t been dishonest, you and PB are of course the saviour from the horrible high street!!!!