I believe Purple Bricks does not present a threat to the industry at the moment. Purple Bricks doesn’t have the local knowledge or personable service that local agencies can provide. It’s essentially a call centre and introduces vendors to sellers and then leaves them to it. There’s a lot of service we provide that is underwater which people may not be necessarily aware of – such as liaising with mortgage providers etc. Purple Bricks can’t provide this aspect of the service.
The financial commitment to Purple Bricks is also a risk for vendors – they hand over their hard-earned cash before their house is even sold. We don’t do this and don’t believe in it as a concept, with the service, expertise and results Flick & Son provides for a client we’re confident that we can get results which means we’re more than happy not to take a penny until a buyer has been found and contracts have been exchanged.
There is always, of course the potential that Purple Bricks may provide a threat in the future, especially as they have a strong amount of financial backing of which a huge amount is going into their marketing budget– but I think that the strong level of service, knowledge and human representation that we provide is something that they can’t feasibly compete with.