The chief executive of Purplebricks in Australia is leaving by mutual agreement. Other changes have also been announced.
Ryan Dinsdale, who spearheaded the Australian launch of Purplebricks in September 2016, is leaving to “pursue new opportunities”.
However, he will remain with the company to “support a period of transition” for a short while.
Neil Tavender, a Briton who was formerly a sales director with Rightmove and who joined Purplebricks three months ago, has been named as the new CEO.
The Australian property market has become very difficult with transactions diving, and a number of local property experts allegedly complaining about both the company culture and their earnings.
Purplebricks co-founder Kenny Bruce was parachuted into Australia to oversee changes and last month Purplebricks launched a new charging model.
It now charges $8,800 – almost double its launch fee – with half payable upfront and the remainder when the sale goes through.
During Dinsdale’s time in charge the company sold over 4,700 homes and lifted revenue to £13.5m in the 12 months to April, up from £3.5m the previous year.
In an email to the Australian publication Financial Review, Dinsdale said he was “incredibly proud” of leading the business over two and a half years.
He said: “The business has successfully disrupted the real estate industry in Australia, with over 4,000 homes sold and saving sellers more than $45 million in traditional fees,” he said.
“As the business continues its successful path, I felt the time was right to pursue another venture.”
His replacement, Neil Tavender, joined Purplebricks in Australia as chief operating officer, with some £1.4m in share options.
He was instrumental in the launch of Rightmove, where he helped set up its new homes operation.
He then joined Propertyfinder – now morphed into Zoopla – when it was a joint venture between News Corporation and the Australian company REA Group.
After a spell working at Connells, Tavender moved to Australia in 2011.
A full statement from Purplebricks last night to EYE said:
“Purplebricks announce that it has been mutually agreed that Australian chief executive officer, Ryan Dinsdale, will leave the business to pursue new opportunities. Ryan will remain with Purplebricks to support a period of transition until the 1 March at the latest.
“Ryan took on the role two and a half years ago to launch the Purplebricks brand into Australia. During his tenure, the company sold over 4,000 homes and saved sellers more than $45m in ‘traditional’ real estate fees.
“Commenting on the announcement, the board and management of Purplebricks expressed their thanks to Ryan for his commitment and dedication to the business and wished him all the best for the future.
“Neil Tavender, will transition in to the role. He has been based in Australia since 2011 and was appointed global chief operating officer in August 2018. Working alongside co-founder Kenny Bruce, Mr Tavender played a key role in the development of Purplebricks Australia’s new customer and marketing proposition launched on 1 October 2018.
“Since the implementation of its new model, Purplebricks Australia has recorded significant increases in instructions, conversions and website visits.
“Purplebricks Australia also announces today it has appointed Debra Lee, currently chief operating officer, as human resources director.
“Debra will work with agents to ensure the business continues to operate in line with its values at all times and ensure the firm’s reputation for outstanding customer outcomes is maintained.
“The vacant role of national sales manager has now been filled by Sean Green who brings 20 years industry experience, most recently with LJ Hooker in its corporate office.
“Prior to this, Mr Green was with Century 21 and Raine & Horne.”
Purple won’t survive for long. The disruptors have disrupted themselves.
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One minute your a millionaire, the next minute your in Australia being woodfords b#tch . Have it blues brothers
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Looks like pb is reliant on fake growth. If oz and US fail the real share value will take affect. Which is 6 million profit x 10 years = a £60 million mkt cap on a buffet valuation. He wouldn’t invest though because it’s a morally corrupt business model. ” , Neil Woodford needs cash to meet redemptions in his two funds, and he’s just sold down his Capita holding. PURP is a different matter. He holds 29.25% and selling just 0.25% (760,000 shares) would require him to declare. At that point, PURP would become a target of sustained short selling. The same is true of any small cap where he holds a significant stake.” Advn
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It was doomed from day one. With a population of 25m and less than 9m dwellings you are fishing in an enormous lake with very few fish. Who is going to pay $4400 upfront and another $4400 if the job is done?
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I asked who would pay £1000 in UK.. if it’s on tv it seems to be trusted. Asa_uk got a lot to answer for.
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…..and the House of Purplebricks is about to come tumbling down!
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Monty Python sketch – The Piranha Brothers. ‘Dinsdale!’
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Exactly what I thought when I saw that name! I trust he never nailed anyone’s head to the floor?
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What a pathetic excuse for failure, ‘the market has dived’
It’s ‘dived’ for all of us and the reality is, good Agents will work through it!
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So indeed sellers saved a few bucks (is that what they call it?) stupidly took the advice of a PB LPE and sold their home for 20 thousand bucks less than the neighbour who used a High Street Agent.
Buyers thought, hold on, I will only buy through a PB Seller, their pads are cheaper… and thus eventually sellers were forced to sell at the knock down PB prices or swap to the PB LPE who misunderstood the instruction of “We’re gunna under cut everyone”
PB marketing Campaign in Oz 2019 “Driving sale prices down (under) and making dreams pOZzible”
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He’s been gone for over 2 months, and only because of a probe from a journalist, and subequent story in the Australian Financial Review, they then decided to officially announce it with a statement. The part where he may stay until march at the latest to transition is very interesting, because he hasn’t been turning up for work and the story was “he’s on annual leave”. Such a mess. 😀
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By my calculation 8,800 Australian dollars is the equivalent of nearly £5,000. Surely that’s not a cheap fee…..does anyone know why there is such a huge difference to the UK?
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Fees generally much higher outside the UK in agency.
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Understand, but it’s not agency is it….it’s Call Centre Listing!
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True. More the differential being my point.
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Frustrating that PBs makes comments about saving their customers 45 mil in fees when they should be saying costing their customers over 300 mil by achieving dreadful sale prices for their clients. Perhaps they should be advertising the saving their buyers achieve.
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With reviews like this
uk.trustpilot.com/reviews/5be7ff129d37800568868f95
it’s hard to figure how the Australian PB can charge what they are getting away with.
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Perhaps this answers your question seeing as you like to pick and choose which reviews to point out:
‘I chose purple bricks to sell my acreage on the central coast of NSW. It sold for $1.51 million with less than $8k in commissions.
Andy and Ange were extremely professional, and hard working. I appreciated their insight into the current market place and valued their input. Purple bricks are the full package. I utilised their online facilities including solicitors that made this transaction convenient, stress free and easy. Why pay 2.5%+ in commission to other agents when it can be done so cheaply with purple bricks?
Whilst other agents spout “we have clients waiting to buy”, it is total rubbish. Potential buyers look online and this is where purple bricks advertises. I could not be happier with their service overall and I am especially happy with the professionalism of the agents who do their utmost to procure the right price. You really are a sucker if you use other agents whose fees are ridiculously high.’
.
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Quack Quack Ducky……… You make me laugh!
Purplebricks may try to look/sound & be like real Estate Agents however they are NOT Estate Agents.
Just because you keep repeating yourself it doesn’t make it true Ducky.
Any switched-on Homeowner would roll around laughing for days if they used Purplebricks, until they started crying/screaming that they wanted a real Estate Agent.
………enjoy your World Ducky, it’s fluffy and purple and nothing is real, but that’s okay, you’re safe there. Quack Quack.
Share Price – next stop £1. At least Investors can see through them!
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Yes they are estate agents. What a ridiculous thing to say. Ignorant and ill informed. Have you worked for them?
I worked in the high street for 20 years and worked for PB for a year. I’m now with another non high street agent and am as much an estate agent now as when I was running a flagship high street branch for national. In fact I’m a better one. I offer a fuller, more personal service and I don’t stop working at 6pm…..because as we all know, the majority of buyers start their search after 7pm (when you lot are in the wine bar or slobbed out on the sofa).
For us non high street agents, the postings on here are laughable. Posted by those who have little or no idea about how we work and who just like to troll things they don’t understand.
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SLF?
I understand that I’m an Estate Agent.
I don’t understand what you are, you were High Street? then Purplebricks for a year? then Back Street?! …..so, you don’t know what you are either – a YoYo perhaps.
Best of luck in whatever/wherever you end up next?
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SLF
I’m now with another non high street agent and am as much an estate agent now as when I was running a flagship high street branch for national. In fact I’m a better one.
So how many listings a month do you do and how much do you get paid per property?
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Ahhh… Mr Pick’n’Choose himself comes back with a response, of course.
Okay – I’ll see your offering and raise you exponentially.
“Why pay 2.5%+ in commission to other agents when it can be done so cheaply with purple bricks?”
Simple answer. 2.5% would have cost the vendor $37750 (plus any taxes UNLESS that 2.5% Fee was Tax-inclusive (unknown)
The vendor says he paid under $8k. In the spirit of fun let’s make the difference $30k.
Had he gone with another agent, and that Agent had achieved a sale price of $1.55m, then he would have been $9k in pocket.
#TO_YOU, ducky…
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If my auntie had mens bits……………………………
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“You really are a sucker if you use other agents whose fees are ridiculously high”
A real professional review there!
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If you think this is bad, check out the utter bilge he posts over on http://www.lse.co.uk.
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Or perhaps it’s the other 89% of excellant reviews, stop being salty.
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Dear Kenny Bruce,
Noting Press Reports that Purplebricks Australia have apparently doubled their Sales Fee to almost $9000! …..what is it that Purplebricks now offers that justifies a doubling/100% increase in your Sales Fee?! What is it that your Customers in Australia receive now from your company at twice your previous fee??! ……that they were not receiving before?
Taking your 4700 Sales Figure at $4400 per sale – totalling circa $20.5 Million, a repeat 4700 Sales Figure at your New Fee means a total of circa $41 Million, effectively those clients will collectively lose over $20 Million by selling their homes through Purplebricks! ……plus the selling prices will no doubt be less than what Traditional Estate Agents would have achieved?!
So, Kenny, Purplebricks Customers selling their homes through Purplebricks will make them Poorer!!!
Poorerbricks! It’s NOT a good way to run a business Kenny, making your customers poorer because you simply double your Sales Fee. Surely You & Purplebricks are just ripping-off your Customers?
Please explain Kenny?
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£1.50 share price imminent 🙂
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£4.04 to £1.67 in six months. Ouch!
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Why hasn’t this announcement been made to the stock market via regulatory news? Surely shareholders should be informed, in the interests of maintaining ‘an orderly market’.
There again, it is listed on AIM, where it seems anything goes, rules or no rules.
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Excellent point. Don’t know the rules on stuff like this but its a bit naughty, especially if anyone at PB has sold shares prior to the information becoming public.
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All the pb bashing by people on this is just straight jealousy and nothing else. Judging by their trust pilot score they clearly do a good job and people just can’t deal with that.
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pat123- “jealousy?”
Seriously?!
You’re joking?
Surely….. you’re joking??
We’re only exposing an imposter, nothing more, nothing less.
Now, I need to get back to the real world of Estate Agency as I don’t work in the “fake world”. I managed to multitask and negotiate the sale of another client’s property, very successfully! ….and I don’t need a true or fake review to embelish ….I just get on with looking after my clients best interests, that’s what they pay me to do, work for them. I’ve been doing that very successfully for 31 Years.
Purplebricks is the virtual world where nothing is actually as it appears …..and I’m not joking pat123-
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I used PB to sell my house after having it with both a corporate and an independent for 2 months with scarce amount of interest. PB also got me two offers within a week of advertising, it is real estate agency and in comparison to the shocking level of service and success i got from using traditonal agents it is clearly working.
You’re not exposing anything, all i see is a lot of jealousy of another’s success.
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I’m pleased it worked out for you but this is not always the case.
We are usually left to pick up the pieces!
No jealousy here….
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Judging by their trust pilot score they clearly do a good job and people just can’t deal with that.
Are those the Trust pilot scores that are based on reviews taken at the time the property is first listed….not after the sale has been completed, which would be a much truer reflection of the level of service given?
BSOS23PC
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Look for yourself, the majority are after their property has been sold.
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I don’t think they are…for a start off there would be a lot fewer of them 😉
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You don’t think? Read the reviews, literally the first 5 on their are after the sale has been completed. You don’t get that many reviews of such a high quality for being poor, they do a very good job and I’m talking from experience.
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pat123-
What is the postcode and house number of the property you sold? I am sure there are a lot skeptical people on here who believe you work for them, being as your so enthusiastic.
By the way, I read the first 5 reviews on non Trust pilot and not one mention of a completed sale as far as I can see….but I did see several reviews that looked very suspicious with the language and grammar used.
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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
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pat123-
You’re not from round these parts, are you?
(Planet Reality, I mean…)
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Not from this planet as I’ve had a good experience with them? Right, great logic there…
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That’s not what I said.
Now that it’s clear you are profoundly hard of thinking I’ll type s…l…o…w…e…r in future.
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Am i going to get a plausible argument from yourself or just poor banter? Yet to hear anything of note from anyone, just straight BS.
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Is English your ninth language by any remote chance?
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And again, no substance to your argument just s**t banter. Must not have many friends i’m guessing. Bet your fat, old and ugly as well looooool, go mug your clients off some more like all you agents do.
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ahahahahahahahaha, i have just seen your twitter account and it is pathetic. Literally dedicating your life to slating PB, someone is a bit obsessed. Get a life you embarassing excuse of a man.
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pat123- …..calm down, take a deep purple breath ….reset.
and………?
It’s good that your passionate about PB, we just think they’re cr*p based on our experience of dealing with them, however you’re entitled to your view.
Your comment to PeeBee above….. “And again, no substance to your argument just s**t banter. Must not have many friends i’m guessing. Bet your fat, old and ugly as well looooool, go mug your clients off some more like all you agents do.”
I don’t know whether PeeBee is handsome or ugly, or old/young or honed/fat …….however, does this comment sum up all that you have to offer?
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pat123-
I have a life. One that I’m extremely happy with, thank you.
I also have a wealth of friends.
And, as a bonus, I can spell and put a sentence or two together. I’m not old – but I suspect that the fact that educational standards clearly went down the pan before you were rushed through the system and out the other end unable to string together three words without needing a lie down to recover.
Seems I’ve got everything you lack. You must be chuffin gutted. Explains your anger.
There are treatments widely available, although it must be stressed that results may be poor due to the quality of material being worked with..
#TO_YOU…
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You have a twitter account set up that literally is there to bash PB, that’s honestly pathetic and i feel very sorry for you.
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Ahhh Neil being in the right place at the right time again. I doubt he will be able to turn it around, he talks a good game.
I am guessing that is why he fits in so well at PB so many of their reps, management say they have achieved XYZ when i know first hand they are some of the worst in the business. Out of the 4 local reps and 2 international ‘managers / ceo’s i have worked with i can say categorically i would not employ any of them.
On a brighter note, share price is doing well 😉
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If I was an investor who bought in January 2017, just after PURP deleted all of those ‘inconvenient’ reviews on Facebook and shortly before a rash of further inconvenient rulings that Purplebricks had mislead consumers* and, by extension, investors; I might be a little peeved this morning with the share price looking more like a black slope at the winter Olympics.
*https://www.asa.org.uk/search.html?q=purplebricks&sort_order=recent
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Noon today – Purplebricks Share Price ….a high of £1.73 earlier, currently just under £1.63.
Paul Simon sings “slip sliding awaaaaaaaayaaaaayyy”
Where was the share price End January 2018? – just short of £4.90.
Oops!
Rod Stewart – “Every Picture tells a Story”…….
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I think PB will continue to do well in the UK, despite their Aust-failure (see what I did there). They have done a good job of building a recognisable brand in such a short space of time.
However their UK success doesn’t herald a new age of online agency as they would like to have many sellers and traditional agents believe. In fact I think PurpleBricks’ growth and success will be the death of other online listing companies such as Emoov and Easyproperty, who can not compete against such a well recognised brand.
There is only room for a couple of these online only ‘agents’, and to be successful, they must have frequent TV and radio advertising, local, experienced staff and a unique, recognisable brand. All this costs a heck of a lot of money, so in order to make a profit, they need to charge an appropriate fee. Finding the correct balance between all these elements is very tricky, as Tepilo, Emoov and EasyProperty are now learning.
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justmakeasoddingofferforgodsake70
All this costs a heck of a lot of money, so in order to make a profit, they need to charge an appropriate fee.
They already charge £1,500 plus…by the time you add all the extras in and most of that is on a non-refundable basis whether people sell or not.
If they increase their charge to over £2,000 they will be above that of many independent agents who operate on a no-sale-no-fee basis, have more local knowledge, experience and contacts, can spend more time on selling the vendor’s property and obtaining a better sale price with a much more comprehensive level of service through to completion.
So which model would you pick to use?
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“and to be successful, they must have frequent TV and radio advertising”
No – you’re wrong.
Wrong on the most basic, important level.
To be “successful” THEY HAVE TO SELL BL00DY HOMES FOR THEIR PAYING CUSTOMERS!
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Yes but their idea of success isn’t about selling homes, it’s about listing homes, that’s how they make money. As soon as this is exposed, the sooner sellers can make the correct decision and go back to using proper estate agents.
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Purplebricks quit Australia.
Possibly soon.
95 week low for PURP – 160.50
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