Here’s a good example of how sketchy the discounters are being with their advertising. It’s bad enough when they claim that they provide the same service as traditional agents, without providing any proof.
But this video – produced by Purplebricks themselves – gives you a great snapshot of their real integrity. When asked, “Don’t I have to pay with the possibility of my property not selling”, the expert says, “No…..not really.”
But the answer is yes – you have to pay $3,699 whether the home sells or not. It takes more prodding by the questioner to get her to deliver the right answer, but it’s still vague and evasive:
The local Purplebricks agent told us that the reason he went there was because he couldn’t hack it anymore as a regular realtor – he needed the salary to live.
If what you got for the money was transparent, the consumer would be better served. But instead, we get peppered with even more lies and deceit paid for by VC money in an attempt to win over the consumer before they figure it out.
The realtors should of gotten in front of the issue long ago. Rapidly rising prices have given way to rapidly rising commissions. The fee is no longer in line with the work performed and it disgusts Sellers and buyers. Now you have all these discounters popping up. It’s a race to the bottom and only a matter of time before one of them catches on and takes over.
The fee is no longer in line with the work performed and it disgusts Sellers and buyers.
1. In spite of there being many lower-cost options available, what has yet to happen is full transparency on what you get for the money. With that, you might choose to pay a higher fee to an agent who proved their advanced sales skills would produce a better result.
2. There may be disgusted sellers and buyers, but there are people raving about the great deal they got at Opendoor….people who, when you and I look at it, got their head tore off. The history of unsuspecting consumers getting a raw deal is long and illustrious. But consumers don’t want to spend the time researching, instead, they just want to go with their gut.
These guys got into what might happen as a result of the DOJ meeting a couple of weeks ago. They agreed that the only way this industry will change is if someone forces it upon us:
http://www.vendoralley.com/2018/06/13/industry-relations-dance-dc-commissions-residential-real-estate/
Somewhat tangential. I don’t get new renters very often as we vet and choose carefully. As such the agent who has been processing applications for years has retired and her daughter has picked up some of her legacy clients. Green is not so bad when we know what needs done. It’s kinda fun. She laughed out loud at our infamous “no pets” clause. She never thought to tell the captain at the fire station two blocks away that a great house nearby was coming on market. I had to explain why we with decades more RE experience were using an agent rather than doing it ourselves. At this point she should be paying us for the education. I almost lost it when she asked hopefully; “Do you know about DocuSign?”
They should change their name to “Purple Haze,” because that’s what you’d have to ingest to believe publishing that commercial was a good idea.
“The fee is no longer in line with the work performed and it disgusts Sellers and buyers.”
That may be true, but if you want great representation by a seasoned salesman, you have to pay the money. It’s kind of like picking a plastic surgeon. The money is less important than getting it right, the first time. The remedy ain’t Purplebricks.
The prob with Purplebricks marketing model, imo, is they’re like the Statue of Liberty for Real Estate Brokers: “Bring us your poor, your tired, your incompetent, your inept, your sleep apnea victims, bring them to us, and we will make them… our discount brokers.” The pro’s will use them as scratch posts, guaranteed.
https://www.youtube.com/watch?v=8I_u5fvB15Q
I smell a lawsuit.
I smell a lawsuit.
Smelling one is as far as it will go.
We don’t have any watchdog or oversight systems in America – advertisers can say whatever they want about their real estate services without recourse.
Oh, the free market will sort it out? Not in the Kardashian world – sensationalism is what we desire now.
Here’s a UK show that went after them though:
https://youtu.be/tW4t33UYHvc
Maybe you could be the agent for change? Carpe Diem
Maybe you could be the agent for change? Carpe Diem
If I could just seize $100 million or so in VC money, I could get in the fight!
Maybe you could be the agent for change? Carpe Diem
The big problem: I’m a party of one.
You don’t see ANY agents commenting here about stopping the pocket listings/Coming Soons. The biggest, most successful agents are doing it, so everyone looks the other way.
You don’t see any agents commenting here about their experiences with the discounters, and how difficult it is to work with them – and how consumers are better off with good agents.
Nobody cares, and/or nobody wants to speak up.
Maybe you could be the agent for change? Carpe Diem
Yesterday on twitter, Inman News had a fluff piece on pocket listings that a Coldwell Banker office retweeted, with a lightweight comment. I asked them to join the conversation, and have something to say about the effect of pocket listings.
They deleted their tweet instead.
You have many friends including at the Wall Street Journal if I am not mistaken. Somebody even made a movie. Get a good publicist. Set up a GoFundme. I’ll contribute.
You have many friends….
You already see me tip-toeing around this stuff. If I lay everybody out, then I’ll never sell another house in this town.
I don’t want to be the Edward Snowden of real estate.
I’m sure there are some good areas in Moscow. You would have to like cold weather.
😆
The local Purplebricks agent told us that the reason he went there was because he couldn’t hack it anymore as a regular realtor – he needed the salary to live.
Purplebricks agents do not get a salary as you’re stating.
You’re misleading your readers and you don’t have the correct facts.
Ok thanks