Purplebricks’ Pricing Model Will Change, CEO Says

The CEO of online estate agency Purplebricks has said in an interview with Sky News that the company is planning to change its pricing model.

Vic Darvey said that the current fixed-fee sale-or-no-sale model of £899 or £1,399 in London will be ‘evolved’, but did not suggest what the replacement model will be. He said that several different options may be tested to see what the response from customers is.

Darvey said: “We’re looking at evolving the pricing and will be in market with a series of tests and customers will tell us whether we’ve got that right or wrong.”

Experts have been suggesting for some time that a fixed fee model may not always be viable in estate agency, including more latterly Darvey himself. Now it seems Purplebricks are ready to make the change from their long-standing pricing model it will be interesting to see what the alternatives are, and how they work out.