Purplebricks and the way the High Street Agency is reacting

July 12, 2017

I am rather worried about the trend of some agents in reacting to the PB threat. By talking about the Purplebricks model, with their logos or the colour purple, hundreds and hundreds of times a day, I’m sure no vendor or landlord is going to remember them when it comes to booking a free val.

Spending your time CONSTANTLY advertising someone else’s business instead of your own makes total sense, doesn’t it?

Do you really believe landlords and vendors will understand what you are talking about when you mention upfront fees and alert them to the big boys in town?

I bet most of them haven’t heard of PB; but at least your having that discussion 24-7 on social media with the funny posts and videos etc is going to make sure they know which agents you have about your insecurities about.

IN THE PAST, if you had a competitor who only had 3% to 4% of your market after a couple of years in your town with their cheap fees .. would you  completely change your model or marketing?

I didnt think so?

So what’s different this time?

Purplebricks will end up winning – not because they are awesome, brilliant, etc etc .. its because high Street agents are too worried  about them. I see it all the time – you are being paralysed by them.

Stop focusing on them and focus on your own $h*t

Christopher Watkin

I teach, guide, support, mentor, consult, counsel, partner many hundreds of UK Estate and Letting Agents in their quest to grow their estate and lettings agencies business. Old school techniques of touting, landlords wanted leaflets, ring us for a free valuation, we have sold this in your street leaflets don't work anymore. There are too many competitor agents .. meaning cheap fees are epidemic, overvaluing is almost a norm to get the stock and don’t even mention about the online/hybrid threat. So a few years ago, I set about looking around the UK and spotted that certain agents (not many mind you) in certain towns were still seen as the ‘go to person on property’, the person the newspaper editor rang up every week for a comment and I looked at what they did and they were doing some thing quite remarkable…. Only one thing but they were doing it so well .. and reaping the reward in terms of decent listings and decent fees, happy staff, decent sales pipeline and exchange income, managed lettings portfolios in the many hundreds .. but more importantly, they really enjoyed the job… they enjoyed getting up in the morning and people looked up to them Over 400 agents around the UK are on a mission to change the way our Estate and Lettings agency profession is perceived and looked upon, doing it town by town, city by city. I guide these 400 agents, teach them, mentor them and support them to be seen in a different light, to be seen as the ‘go to person for property’, actually be the ‘local property expert’ and prove it. Christopher Watkin 07950 147 572 christopher@christopherwatkin.co.uk

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