Purplebricks Expands Across California


Purplebricks Group plc (AIM: PURP), the next generation real estate agency, which recently launched in Los Angeles and Orange County in September, is pleased to announce its California expansion which includes three new markets: Fresno, Sacramento and San Diego. Using its unique recipe for success, Purplebricks is making the process of buying and selling a home more convenient, transparent and cost effective.

“We are truly excited about our rapid growth into new markets in California and the pace at which our company is exceeding expectations for the U.S.,” said Global CEO of Purplebricks, Michael Bruce. “The momentum we are experiencing is a direct result of the Local Real Estate Experts we have hired along with our unparalleled technology platform.”

“The Purplebricks model works, and we continue to prove it to the market by way of new market entry and steady momentum in Los Angeles. Both buyers and sellers crave efficiency and transparency at the lowest possible cost – that, in a nutshell, is what the Purplebricks model is based on,” said U.S. CEO of Purplebicks, Eric Eckardt. “We look forward to providing our solution to these new regions and are eager to welcome new team members aboard to help drive this growth.”

With Purplebricks, sellers can list their home for a flat seller fee of $3,200. This enables them to save thousands of dollars in standard commission fees, which average 5-6% in the U.S. That amount is typically split in half between the seller and buyer agent commissions.

Purplebricks’ highly differentiated business model and value proposition is proven, effective and compelling. Purplebricks is the leading real estate brokerage in the U.K. based on its new listings and sales. It has also established itself as a leading player in Australia. And now, Purplebricks is poised to sweep the U.S. starting in California.

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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