April 8, 2016 at 17:00 #26636
Here’s a funny thing PB shares are doing really well.
But since the beginning of April PB have only listed 30 properties.
Now lets to the sums shall we.
They have a huge pay role plus massive advertising budget and they need to sell a lot of houses daily and therefore list even more daily to make any money.
At less than 4 new instructions per day average for this month does not bode well, but then I’m not a shares analyst so I guess PB shares must be cheap ????April 8, 2016 at 17:19 #26637
The thing with all these internet agents is its about a calculated gamble.
The backers are hoping / expecting PB to be the next big thing.
If they do crack the market (dont think they will) their share price will be on a par with RM approx £41.00 per share so buying at circa £1.40 a share now would be incredible value.
But as you and i know its unlikely to happen. But they keep offering shares to make the start up individuals money.
End of the day it might fall flat on its face but the Bruce brothers have made LOT of money.
April 13, 2016 at 09:45 #26798
- This reply was modified 2 years, 6 months ago by smile please.
Latest number on Righmove; since 1/4/16
58 new added and we are nearly 1/2 way through the month.
Is this a sustainable business model ?April 13, 2016 at 23:02 #26845
Where exactly on RM are you obtaining your stats from?
Unfortunately, they are a mile out.April 14, 2016 at 10:49 #26847
Out of interest PeeBee
How many have they added month to date?
I am guessing more, I am also guessing PB has multiple branches listed on RM and PP is looking at nearest to him?April 14, 2016 at 11:26 #26848
Your right, I’m (alas) an idiot.
I was looking at just one of their RM accounts I just took a peek at their London centric and they seem to have 200 (+/-) new on since 1/4/16
I cant be bothered (nor do I have the time) to look at all of their different accounts
Does anyone know how many accounts on RM they have? Maybe we could work collaboratively if each has one account to look at and report although I cant then double check to see if they are re-listing old stock.April 14, 2016 at 11:43 #26849
Easy mistake to make PP – Did the same many years back when the first online only agents came about!
No idea on how many accounts.
I know in my town they have approx 15 properties available and a similar number under offer.
I think they are gaining market share, question is can they continue to grow with the money they have? – To be honest we joke about them and know they are not as good as a traditional high street agent yet the public is supporting them and they are growing.April 14, 2016 at 12:31 #26854
Their account changed last month. It threw me for a while and chasing down the new locations was a bit of a ‘mare to be honest – kinda makes you wonder if that was one of the reasons behind the move…
They currently have TEN ‘Regions’ on RM – Anglia, Central, London, Meridian (which is the ‘original’ page), North East, North West, Scotland, South West, Wales, and Yorkshire.
And yes – I ‘watch’ every one daily… #sadorwhatApril 14, 2016 at 12:35 #26856
Property Paddy – it’s already in hand, mon ami!
Most of the time it’s a couple of hours… or so… a day to go through – but month end/start is when the **** hits the fan monumentally for ‘relistings’.April 14, 2016 at 14:29 #26860
How many genuine new instructions a month do they take on PeeBee at a guess?April 14, 2016 at 15:09 #26861
smile please – the answer to that, if you believe Zoopla’s listings (which are still conglomerated together), is a LITERALLY unbelievable 2182 in the last 30 days.
BUT… you have to factor in the small point that this humongous total includes ones like:
which was actually listed last OCTOBER;
which was listed initially back in September, mothballed in January and ‘Just Added’ today;
which was listed last September; and THIS beaut –
which was again mothballed on January 14 after several months of being advertised, and ‘Added’ to Zoopla today – and has ALREADY been archived on RM… and the same goes for
Need I go on?
Welcome to my world, folks…!!April 14, 2016 at 15:35 #26862
Total listing for April is 1668 which includes 187 sstc 26 under offer = 1455 available less than 10 per repApril 14, 2016 at 16:00 #26863
To be honest, to me sounds like good numbers.
If you think a corporate agency targets say 3 instructions per week and the overheads they have in staff and that they do not get paid unless exchange. These are worryingly good figures and shows that they are indeed a viable business despite the awful service. Will it last????
It has however highlighted the need to back OTM, we need to keep them at bay as long as possible!April 15, 2016 at 09:51 #26932
OK so we are talking an annual turnover of 20,000 properties to market.
How many will they lose to competing agents if unsold after 10 weeks /
so down to 16,000
Vendors decide to stay put for another year 10%
They charge £800 ?
if they sell this many = £11.5m
But we know there will be 6 weeks a year with little activity (xmas for example)
so take off another 1500 listings
13000 x £800 = £10.5m ?
So how much cash are they burning ?
Because as I see it they should be in profit. Except one tiny little problem.
If they offer a poor service, over egg the price on valuation (or worse under value), or other factors they will not get repeat business. How much time will tell ?
If they are still as strong in 24 months then we may have a problem.April 15, 2016 at 10:22 #26934
They still get paid if the seller moves or not.
They are burning cash with advertising but in my humble opinion seems to be working.April 18, 2016 at 14:45 #27004
So the Solihull office covers wales (I guess) and they have generated 90 new instruction in April that’s an average of 5 per day based on it being the 18th April. how many staff for that area ?April 19, 2016 at 11:31 #27065
Nope – WALES ‘office’ covers Wales.
‘Meridian’ (Solihull) have supposedly added 468 properties to the RM site in the last 14 days – plus those which mysteriously disappear within hours or days.
The above total includes ‘SSTC’ & ‘U/O’ re-listings, Reductions, and Fall-Throughs (which they seem to get plenty of…).
Not to mention the re-listings; re-re-listings; re-re-re-relistings… etc.April 29, 2016 at 09:08 #27598
My local PB rep recently posted that she had 20 sales this month (April) but was hoping to beat Febs figure of 25.
This is South West Wales..
She is advertising for more staff (OTE £40K), I think she possibly has 2 people working for / with her.
I understand they get 50% of the initial fee and then have to pay staff / costs out of that?
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