Purplebricks has now quietly launched into online auction sales.
It is now working in partnership with two online auction providers, including an online firm. Eight properties are due to have their online sales closed today at different times, with other online auctions due to close tomorrow.
The deal with the Go To Group follows that with Auction House, which sells in traditional ‘real’ venues.
Historically online, we found a Purplebricks property going to the auction sales room which was advertised with a buyer’s premium of £2,200.
Yesterday, we found a property currently listed on Purplebricks Online Auctions which says it will attract a non-refundable buyer’s premium of £4,800 plus £354, a total of £5,154.
This is in addition to the final price, and takes the property off the market while the buyer has 56 days in which to complete.
Like the January 2018 deal with Auction House, the new tie-up has not been formally announced or publicised, although Purplebricks has confirmed it.
A spokesperson for Purplebricks told EYE yesterday: “Offering an online auction service adds further value and choice for our customers and we see it as a great addition to our complete estate agency service.”
Roger Lake, founder at Auction House, told us: “The working arrangement whereby Auction House sells room auction lots for Purplebricks’ clients is still in place and functioning well.
“Our service is now supplemented by newly introduced Purplebricks Online Auctions which runs in parallel.
“Auction House works with a huge number of partner estate agents throughout the country and Purplebricks is one of them.
“Interestingly our sold numbers continue to rise and in January/February the Auction House national market share of auction lots sold hit an all-time high of 20%.
“It is very much ‘business as usual’ at Auction House with entries and sales remaining strong.”
The new deal with the Go To Group can be seen here:
https://purplebricksauctions.gotogroup.co.uk/
How EYE reported Purplebricks’ first venture into auctions:
Purplebricks now offering vendors choice of auctions in physical sales rooms
Comments (27)
There are some pretty upset agents out there with nothing better to do than dis credit PB? In the real world – there are high street agents doing auctions, and the online auctions with higher fees. The con here are the fees the buyer has to pay, surely is it better for the seller to achieve a better price to include that fee? And for the buyer to have their purchase price to include that fee? Or that fee as part of a deposit? They are unjustified money making scams. Who in their right mind is going to pay over £5000 to ‘hold’ a property? Just make an offer the normal way? Wow, just wow, this shouldn’t be allowed.
So let’s get this straight, they take a £899 fee (outside London) which can readily rise to £899 + £300 viewing package + £360 deferred payment fee = £1559. Then it goes to online auction and sells and earns them £2400 (assuming buyer’s fee split equally between PB & Go To Group). Let’s add in a 50:50 split of the admin fee (£354) and total possible fee becomes £4136. Some commissary, eh?
It appears that the Go To Group ‘Modern Method of Auction’ scheme has a fixed buyer’s premium unlike the other providers who work on varying percentages of the final selling price (a £1m sale can have a buyer’s premium of £35,000 + VAT or more!).
Anyone who thinks PB are doing this in the interest of their customers ….. I need say no more.
So PB takes their fee whether it sells or not. They now hope not as they can then recommend an auction and take a cut of a buyers premium of £5,154 as well!
How can this be described in any way as an estate agency?
The CMA, NTSEAT and TPO need to consider this immediately?
Perhaps the NAEA, ARLA and TPOS might also want to take action… Oh no, they all take hundreds of membership fees from individual LPEs’ for this ‘ONE’ PLC.
P.B. Press Release
No need to worry with our new vendor deal.
In the highly unlikey event we do not sell your property, don’t worry!
We simply punt it to our friends for acution.
And we can put up another SOLD sign..Every body wins!
in the event that we don’t sell your property……. oh well, we have your money, so no bad feelings eh!
I hear mortgage advice bureau take their mortgage leads..
Maybe agents should boycott any rats who support Payanyway agents.
Rightmove , zoopla , legal firms paying over £300 in referalls , board companies…
Vendors don’t need Purplebricks….. It’s yet another Virtual Moneyspinning Trick by Purplebricks to fleece money from Vendors!
Chris, or whatever your name is, there’s no downside here. It’s just an EA company trying to do the best for their customers.
You should try it some time, instead of your inane rambling about PB.
Rats
How is this doing the best for their customers. Buyers dont like the auction thing, buyers dont like dealing with the vendor directly (you surely must have heard a buyer say they prefer the vendor to be out on viewings?) This whole company is based on the premise of offering the same service as a proper estate agent, but for less cost….this is not accurate.
These auction companies will come and go, it is some sort of trend at the moment, but it wont expand into anything meaningful. Selling property is still about working hard and having good local knowledge, not gimmicks to help the lazy.
Actually it’s not ” an EA company trying to do the best for its customers ”
It’s another pernicious method of trying to stem the cash burn before the money runs out, typical PB getting onboard just as the bad press for this “method”
gets going, just listing it and leaving it to Sharon in Solihull must seem so PB vs 1.0
Londonbound? …….sorry, your point is what exactly?
Chris? …..no idea who your are referring to however the best advice from me to you ……learn some manners before addressing anyone. Even in Glasgow, we know how to address people with respect.
For the record, Purplebricks are creating a stream of income by spinning their Auction Service. They are not actually providing anything, merely piggybacking for profit.
If Purplebricks had their clients “best interests” at heart they wouldn’t try to force their clients to use their panel solicitors by penalising them if they don’t, nor would Purplebricks then penalise the client that does use their panel solicitors by taking a “lumping great big commission” for themselves from the cost that they charge their client for those legal services?
It’s grubby, its sharp practice, it’s deceitful ……and it seems to be wholly against their clients best interests!
However, if you are in Love with Purplebricks that’s your problem …sadly, no one else can help you!
GPL,
You are right. Vendors don’t need PurpleBricks. They don’t need any particular company, including yours, if there is choice.
From your website…
“We can also offer solicitor services to take care of your conveyancing and property sale aswell as financial planning, contact us to take advantage of these additional services and find out how we can help”
You may want to fix your spelling mistake.
cyberduck? ……some people might be flattered by your “personal interest” in them.
I find your attention in me creepy and akin to a form of stalking.
For now, I’ll ask you politely to desist. I haven’t made the mininimal effort required to find out exactly who you are as I’m not that type of person, however, if your creepy behaviour continues I will.
Your creepy behaviour with other Subscribers to this forum raises concerns which may need to be addressed.
In the meantime, by al means contribute, just lose the creepy behaviour ……trolling other Subscribers Company Accounts etc ……it’s all very creepy.
You’ll know I’m a former Police Officer so it wouldn’t take me lng to investigate you ……however I’m not the kind of person that you appear to be.
Take the hint, contribute, have a differing opinion, be passionate about your view – but forget the creepy/stalker/troll behaviour!
This matter is Closed unless you wish to continue with your behaviour……
He’ll be back later to answer any comments, surprised the dope’s not already announced this.
GPL,
One of the reasons I continue to post on here is to add balance to the predominatly anti-Purplebricks posts. This concerns me as a former shareholder as I know how damaging misleading comments from their competitors can be.
There’s also a company who promote themselves here and on social media and I believe they are misleading people so this is something I am concerned about. You probably know who I mean. I don’t think that’s creepy, I see it as helping readers who could be misled.
Waht I do find creepy is that Agents hide behind anonynimity to try and damage their competitors. Quite a lot of the comments on here being misleading. One anonymous Agents popped over to a forum for discussing PurpleBricks as an investment the other day and suggested that there was some tax-dodging going on. So if you want to investigate creepy behaviour then I can point you to the true identity of that individual if you want.
Here’s my cocnern. I think some Agents have done and are are making complaints and claims about other Agents when they themselves are guilty of similar things. If somebody repeatedly posts in a damaging way then I may do some investigation to see if they are being hypocritical and point this out so that readers can take this into account. I think that’s reasonable.
>I find your attention in me creepy and akin to a form of stalking.
You don’t get any special attention from me. I haven’t looked up your company accounts but did so for another who writes misleading and unsubstantiated comments on twitter and a blog. A company’s accounts are of course publicly available information and if somebody is potentially misleading people then I will post information so that readers can make their own mind up about what they are saying.
>You’ll know I’m a former Police Officer so it wouldn’t take me lng to investigate you ……however I’m not the kind of person that you appear to be.
Not a problem, I don’t have a criminal record. You could always mention your concerns to PIE. If they agree that I’m stalking you they may close my account.
I would hope though that PIE and yourself take the same approach for others too. There are certain individuals who make a habit of commenting on my posts in a personal way rather than replying to the substance of my comment. Some have even posted my name and I can;t think of any reason for this other than it being some form of intimidation. I just ignore those who regularly reply to my posts and make personal comments but if you think it’s a form of stalking then please investigate them. One of them I see has replied above. Check through their posting history and you’ll see what I’m getting at. You might in fact investigate that persons post in general they seem to rather personal and aggressive in nature whenever they post in response to somebody. It’s not just me.
I know this upsets some people but I won’t come back to read any reply so please don’t assume I’ve read anything further that is posted. This is the only reason I mention that I won’t be back. So that nobody wastes their time replying with a question.
…. I know how damaging misleading comments from their competitors can be.
….. I believe they are misleading people so this is something I am concerned about.
……I see it as helping readers who could be misled.
……..I think some Agents have done …..
……….. investigation to see if they are being hypocritical
…………. I haven’t looked up your company accounts but did so for another who writes misleading and unsubstantiated comments on twitter and a blog.
……………..You could always mention your concerns to PIE. If they agree that I’m stalking you they may close my account.
…………………… I would hope though that PIE and yourself take the same approach for others too.
………………………. I won’t come back to read any reply ……. So that nobody wastes their time replying with a question.
Cyberduck, you could just as well have been talking about yourself. Try and practice what you preach. The day PIE closes your account will hopefully be soon, you are vendictive to the extreme, clear malice and a hypocrit.
Mr Duck
I grant you that a post on a forum such as this is different from a company’s website, but if you are going to come on here and pick up posters for spelling errors on their websites, you might want to be a bit more careful with your own spelling.
“predominatly”, “Waht”, “anonynimity”, “cocnern”, “can;t”
Cyberduck46? …….you need to let it goooooooo
Your last paragraph……. “I know this upsets some people but I won’t come back to read any reply so please don’t assume I’ve read anything further that is posted. This is the only reason I mention that I won’t be back. So that nobody wastes their time replying with a question.”
Really? ……that paragraph is School Playground stuff.
As for me investigating any criminal record you may or may not have? ………I have no interest whether you have farted in public, parked on a double yellow line or been caught doing something you shouldn’t …….however the manner in which you pick over some PIE posters “personal or professional lives” raises concerns for me …..it’s creepy, and trust me, having Policed in one of Glasgow’s hardest areas I came across some “people” who were absolutely unique for all sorts of reasons – the young man who thought shooting out the street lights with a shotgun was okay? ……because the lights were too bright?! …….I could write a book.
For the final time Cyberduck46 …….participate, however apply the rule of “would you act in the same manner towards these people if you were standing next to them in a Pub, Wine Bar, Country Inn or Claridges ……wherever your watering hole may be?”.
……and the reason I’m posting Late, when I finished work ……I rolled my Motorbike out of the garage for the 1st time this season and enjoyed 2 solo hours around the byways of South West Scotland, watching the sunset over the Mull of Galloway, then back as darkness fell, breathing in clear/cold air …….maybe you should take some time to live outside of your bubble, maybe you do? ……however, we’ll never know unless we go poking around your private/professional life ……and most of us have zero interest in digging that much into someone’s background.
Sleep soundly Cyberduck46….. I won’t be looking in your windows, even if you feel the need to gaze through mine in the darkness? Life’s too short.
Your remarks are again a high jacking of a subject, for a personal attack on an agent, again. His service and spelling of how he can help customers has nothing to do with PB move into auctions!
Woodentop,
My post was completely appropriate to GPL’s comment.
That’s the reason for the reply button. If I wanted to comment on the article I wouldn’t have replied to GPL’s post.
cybertroll
Trolling is defined as creating discord on the Internet by starting quarrels or upsetting people by posting inflammatory or off-topic messages in an online community. Basically, a social media troll is someone who purposely says something controversial in order to get a rise out of other users.
That argument as usual fails miserably. If you want to have a personal spat at someone, do it direct with the individual and not show how stupid you are to the world. It amounts to cyber bullying for which is now a criminal offence.
“..I won’t come back to read any reply so please don’t assume I’ve read anything further that is posted. This is the only reason I mention that I won’t be back..”
mmmmm