A top PropTech analyst says Purplebricks is as much an advertising firm as an estate agency but is nonetheless a huge success in the UK.
Mike DelPrete – former head of strategy at the property portal Trade Me in New Zealand and now a respected international real estate consultant – says that a key measure of Purplebricks success is the effectiveness of its advertising and marketing spend, as much as other more conventional estate agency measures.
Having analysed the company’s most recent figures, DelPrete says: “For every £1 spent on marketing, Purplebricks generates revenues of £3.60 in the U.K., £0.92 in Australia, £0.36 in the U.S., and £4.38 in Canada.”
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.