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Hybrid sector could reach 20-30% market share, says Purplebricks CEO

The new chief executive of Purplebricks believes hybrid agents could win ’20-30% market share’ in the UK.

Vic Darvey, who replaced Michael Bruce as the agency’s chief executive in May, says the hybrid sector remains ‘a very nascent opportunity’.

“People forget that the sector is only around five years old,” he says in an interview with Estate Agent Today, following the publishing of the agency’s full-year figures for the year ending April 30 2019 yesterday. 

“At Purplebricks, we are now only talking to some consumers for the first time as they look to move home.”

Purplebricks Group plc (LON:PURP) engages in estate agency business in the United Kingdom, it provides services relating to the sale of properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.