Michael Bruce knew his industry was antiquated.
Bruce, the CEO of a traditional real estate company in the U.K. Purplebricks, saw that exactly no one was happy with the home-selling process. The traditional model meant that home-sellers paid 6 percent to agents who maintained complete control over a slow listing/selling process.
Bloated real estate storefronts went largely unused by agents, never used by customers, with the expense being passed through to the seller. The seller also experienced less than full transparency, agonising waits at multiple stages of the process, and a general lack of control over what remained one of the most stressful life experiences in existence.
Purplebricks (LON:PURP) is the leading next generation estate agency in the UK with operations in Australia, the US and Canada that combines highly experienced and professional Local Property Experts (Local Real Estate Experts in the US) and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive estate agents and estate agency.