Purplebricks Brings Innovative Real Estate Brokerage Model to Arizona and Nevada

June 14, 2018

PHOENIX & LAS VEGAS--(BUSINESS WIRE)--Jun 14, 2018--Purplebricks Group plc (AIM: PURP) (“Purplebricks”), the pioneering next-generation real estate agency, today announced its expansion into Las Vegas, Nevada and Phoenix, Arizona – ranked no. 6 and no. 11, respectively, in Forbes’ annual list of fastest-growing cities – providing local homebuyers and sellers a more convenient, transparent and cost-effective way to transact. Purplebricks’ value proposition is unique in that it combines intuitive technology, experienced local agents and a flat-fee structure to deliver a more rewarding home-buying and selling experience. To oversee its operations in Las Vegas and Phoenix, Purplebricks has named local real estate professional Marcus Fleming, who brings a decade of experience in the local real estate market, to the post of Regional Director.

Effective Tuesday, June 19, 2018, Las Vegas and Phoenix residents can list their homes with Purplebricks for a flat fee of $3,600 and, upon closing, pay the buyer’s agent commission, which is standard in U.S. real estate transactions. The flat fee is the same for homes of all values. Purplebricks agents provide a full-service offering that includes pricing and staging advice, professional photography, signage and marketing, an immersive 3D virtual tour and dedicated support through closing. A local homeowner selling a $261,000 home would save $4,230 using Purplebricks compared to paying the standard real estate brokerage commission of 5 to 6 percent.

Purplebricks recently commissioned a third-party national study to analyze attitudes towards the home buying and selling experience. The research found that 73 percent of Americans say it is extremely important for a real estate agent to outline all of his or her fees upfront when helping to sell a home. Nearly seven in 10 Americans also touted the importance of transparency throughout the entire transaction process as a crucial factor for gaining their trust. The findings of the comprehensive study support Purplebricks’ differentiated consumer value proposition, which prioritizes transparency.

Las Vegas and Phoenix homebuyers can now experience that transparency by using Purplebricks’ website and mobile app to view all available property listings on the market, instantly book multiple home tours with Purplebricks agents, safely and seamlessly communicate with sellers, and negotiate offers in real-time. The flexibility afforded by Purplebricks’ online platform provides buyers with greater speed and control over the transaction 24/7. As an added benefit, buyers who select Purplebricks to serve as their agent receive a $1,000 rebate on closing.

“Las Vegas and Phoenix are similarly attractive markets, each experiencing a steady stream of growth from comparable clientele. In Las Vegas, the construction and hospitality industries continue to drive population growth, while Phoenix is seeing expansion through technology-based companies,” said Mr. Fleming. “After developing a keen understanding of these real estate markets over the last decade, I am eager to make a positive impact by working with an innovative, fast-paced company like Purplebricks. The outstanding platform and service Purplebricks offers consumers is unparalleled. In addition, Realtors who long to be busy selling homes and building reputational capital are ensured an excellent career opportunity.”

Purplebricks works exclusively with experienced agents who are dedicated to providing exceptional customer service. All Purplebricks agents benefit from an extensive training program that covers all aspects of Purplebricks’ culture and business model and platform, designed to help them work more effectively. Purplebricks’ agents have territorial exclusivity determined by zip code with central resources available, including a robust lead generation pipeline, for them to build and grow their business. This approach guarantees Purplebricks agents have exceptional local market knowledge and the ability to provide expert advice to sellers and buyers.

“We are excited to welcome Marcus to the Purplebricks team and eagerly look forward to his contributions in both Las Vegas and Phoenix. His track record in growing differentiated real estate models in both regions will be beneficial as we seek to expand our brand and offer support to our local real estate experts,” said Eric Eckardt, Purplebricks U.S. CEO. “The Purplebricks model has continued to achieve great results on both coasts by providing excellent service and saving home sellers in California, Connecticut, New Jersey and New York thousands of dollars. We see tremendous opportunity in Las Vegas and Phoenix, as both markets have ideal demographics comprised of consumers eager to buy and sell homes while saving money.“

Prior to joining Purplebricks, Mr. Fleming, a licensed realtor in both Nevada and Arizona, spent more than 10 years working as a real estate agent. He previously supervised Redfin’s brand launch in both Nevada and Arizona. After seven years of working with Redfin, including building out several teams and managing growth across the platform in both states, Mr. Fleming opened his own real estate brokerage.

For more information on Purplebricks’ platform, savings and services, visit www.purplebricks.com. Real estate agents interested in joining the Purplebricks team are encouraged to email their resumes to joinus@purplebricks.com.

About Purplebricks

Purplebricks, with offices in three major real estate markets including the United Kingdom, Australia and now the United States, is the pioneering next-generation real estate brokerage, combining highly experienced and professional Local Real Estate Experts with an innovative and intuitive technology platform to make the entire process of selling and buying homes much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive real estate agencies, while in the process helping sellers save thousands of dollars, affording buyers greater transactional flexibility and control and offering agents the chance to build and grow their own profitable businesses.

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ICR for Purplebricks in the US

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Kelly Ferraro, 1-646-277-1291

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SOURCE: Purplebricks Group plc

Copyright Business Wire 2018.

PUB: 06/14/2018 04:05 PM/DISC: 06/14/2018 04:05 PM


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