Purplebricks and local estate agents

[MaryPlain59]

Could anyone help me with this question please, if you go with Purplebricks plus local estate agents and a local estate agent makes the sale do you still have to pay any money to Purplebricks?

I think it's just £850ish up front with them anyway, so you have to pay before they do anything but no commission later.

We had a valuation with an online agent (Yopa). Their valuation was £10k below the offer that we accepted when it was up with a local agent. Because all the money is upfront they just want a quick sale, whereas with a commission based agent they want the best price (bigger sale price = more commission).

BBC iPlayer and this weeks watchdog will tell you all you need to know about purplebricks. Have a look at the thoughts of sellers on their Facebook page too.

You pay purplebricks whether they sell or not. Either upfront or through a loan which is more expensive at the end.

If you pay the end it's a credit agreement with a third party you enter into. You also have to use their conveyancing solicitors who needless to say charge more than if you source your own.

Thank you all very much for your help, I've watched the Watchdog clip and been on facebook page now and found it invaluable.

Good. Glad it helped and good luck with your sale.

@IndianaMoleWoman ... whereas with a commission based agent they want the best price (bigger sale price = more commission).

I'm not saying local EAs aren't worth it (and agree with assessment of PurpleBricks), but Freakonomics raises an important point when it comes to how much effort they'll really put in (and also cos Freakonomics is always a good read!)

www.nachi.org/forum/f11/exerpt-freakonomics-book-regarding-real-estate-agents-57929/

Wow ShotsFired, thanks for that, it makes a lot of sense. We wanted to take our off the market when we accepted an offer after three days, but the agent insisted on keeping it up so we'll see if we get a better offer.

Do estate agents really get 6% commission in America? Ours is 1%!

We used purple bricks as so much cheaper. We didn't mind showing people around ourselves as preferred this honest approach when we viewed houses. Had no problems at all selling, sold within 3 weeks. Would recommend them! Estate agents on the high street wanted thousands. Better in our pocket.

Thank you everyone for your fantastic advice, it is much appreciated x

I agree with watchdog, my experience was much worse then what they describe in the programme.
Luckily I had a very desirable house and I still managed to sell it at a good price.

The problem is not just the sale, it's also the conveyancing, things dragged on and on because we didn't have an estate agent chasing the buyers solicitor, I ended up learning a lot about the finer points of the conveyancing process....

Peacemaking because I've wondered about buying a house being sold by purple bricks and want to hear experiences.

*place marking even

I've had an appalling experience with an online agent this year.

I was rather smug to have signed up for £550, got many viewers and so many offers it went to best and final. I achieved 20k over asking - yay all fab. That is until you realise selling is only the first part of the jigsaw.

Contact was minimal, I had to constantly chase for updates. My buyer finally pulled out 4.5 months later as they couldn't afford the mortgage. They hadn't been vetted properly initially.

To try and keep the house I want to buy I signed up with the same high street agent. House sold again within 48 hours. There is no comparison. A lady who is a contract chaser at the agent pushes and pushes each week to see where everybody is at. I'm kept up to date constantly. Don't forget they work on the no sale no fee basis so need to push it through.

I would NEVER risk putting such a stressful time in the hands of an online agent again. It may be a straight forward sale for some but if you hit a rocky road it's bloody hard work.

Oh and the people buying my house have sold with PB. My estate agents leave messages constantly asking for chain updates and they rarely callback or you speak to a different call handler each time. It's bloody frustrating beyond belief. I'm so desperate to move now I'd pay my EA double!

I don't disagree that the money is better off in your pocket Nut3lla, but spare a thought for your buyers. Online agents only get away with charging the cheap rates that they offer, because they load all of the shitwork - and the stress and hassle - on to the buyer.

They don't do any sales progression or chasing, so unless you are in the very fortunate position of having a desirable property in a sought-after area (in which case, lucky you!) then there is a real danger of pissing your buyers off to the extent that they go elsewhere. Which is exactly what we did. We've been house-hunting again and have now, hopefully, found somewhere - but I refused to even view places that were with online agents, after the utterly horrific experience that we have just had.

Lazy we have found exactly the same. My new local estate agent is the one doing ALL the chasing. Interestingly our buyers have sold with PB, they have sold to FTB who's solicitors have had contract pack for 2 months and not even raised searches. PB have put zero pressure on them to move forward unlike my EA who is constantly ringing around. I now realise the EA are the ones that push forward the sale. Negotiating the conveyancing system in this country is tricky at the best of times. You need them behind you to push it through.

My EA said their hearts sink when they realise they have to deal with online agents due to the lack of communication and sales progression.