Real Estate Disrupter Purplebricks model fails in Australia

Purplebricks is quitting Australia less than three years since it entered the market promising to “change the real estate landscape” with its fixed-fee model and online platform after making serious losses. Although both Purplebricks and Savills backed Yopa hybrid models of selling real estate both started up with some degree of success in the bull real estate markets it entered into, once the market normalised they quickly got into trouble. Both have raised and lost millions of pounds from investors…
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