According to a note to investors, Purplebricks has claimed they sell 76% of the homes they list on the site, "above the national average".
Analysts at Investec Bank said that its independent market survey report “confirms that Purplebricks sells the majority of instructed properties, “contradicting some recent desktop analysis” – a reference to recent claims by Jefferies that Purplebricks sells just over half.
Investec said that its independent survey ties in with Purplebricks’ own figures, adding: “This is an important vindication of the model."
Received wisdom is that most volume agencies would consider it very good if they were to sell over 60% of their stock.
The Investec report goes on to say: “While the incumbent estate agent industry does not like it, our survey suggests Purplebricks really does sell houses and converts instructions into sales at a high 76% rate; an attractive probability of selling for vendors.”
Investec also concludes that Local Property Experts “do a good job and are actively involved in a high proportion of house sales.
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