Purplebricks gears up for US launch
Estate agent disrupter Purplebricks is formally launching its business in the US today.
The online platform will now be offering sellers in Los Angeles the chance to advertise their properties for a fixed flat flee, which it claims would save them thousands of dollars compared with the traditional high street estate agency model.
The company has also announced that, for the first time, buyers will be able to tour properties using 3D virtual reality through leading provider Matterport.
Should this initiative prove successful in the US, Solihull-headquartered Purplebricks will look at extending this and other technology advances to the UK and Australia.
“Launching Purplebricks today in the US is the single biggest moment in the company’s three-year history and a proud moment for me personally,” said CEO and co-founder Michael Bruce (pictured below).
“We are excited about the opportunity, in this $70 billion market, while mindful of the challenges. We have planned accordingly, adapting both our technology platform and customer proposition, while building out an infrastructure and local team, with decades of experience.
“As we roll out across California and beyond we will closely monitor progress and have the capability to further quickly and efficiently refine our model, if and where necessary.”
The platform will launch initially in Los Angeles, before extending across California and other targeted key states thereafter.
The company’s technology platform and customer offering has undergone a transformation to “meet the intricacies of the US market”. This is delivered through a combination of local real estate experts (LREEs) and technology.
Purplebricks’ launch in the US follows the firm's expansion into the Australian market just over a year ago.
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