Purplebricks has thrown their hat into the ring, claiming homeowners have saved themselves over £140m in commission fees thanks to the company. Purplebricks used the service EstatesAgents4Me to calculate that they contributed to a 60% rise in savings across the industry.
Purplebricks claims that their efforts, as well as the efforts of their competition, have dropped rates across the board. High street commission rates have gone from 2.16 percent in 2014, to 1.5 percent today.
“The transparency, convenience and potential savings on hefty commission rates make the decision a smart choice. The way that people buy and sell property has changed - people want the personal service of Local Property Experts in combination with great technology so they can transparently and conveniently interact and see everything that is happening 24/7” claims Lee Wainwright, UK chief executive of Purplebricks.
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