Is Purplebricks Really Free? Understanding the Costs of Online Estate Agents

Is Purplebricks Really Free? A Detailed Guide to Understanding Their Fees

Purplebricks has gained attention as one of the UK’s leading online estate agents, promising a low-cost alternative to traditional estate agents. You might have heard claims that Purplebricks is free, but is that really the case? This guide delves into Purplebricks' fee structure to help you understand whether their services are genuinely free and what costs you might incur when using their platform.

1. Is Purplebricks Actually Free?

No, Purplebricks is not free. While they market themselves as a cheaper alternative to traditional high-street estate agents, they still charge fees for their services. Unlike traditional estate agents who charge a commission based on a percentage of the property’s sale price, Purplebricks charges a fixed fee upfront, regardless of whether your property sells or not.

2. How Much Does Purplebricks Actually Cost?

The cost of using Purplebricks varies depending on the location of your property and the level of service you choose. As of 2024, the standard fixed fee for selling a property with Purplebricks in most of the UK is:

• £1,499 (London & surrounding areas)
• £1,349 (Rest of the UK)

Key Points About Their Fees:

• Upfront Payment: The fee is typically required upfront, which means you pay regardless of whether your property sells.
• Deferred Payment Option: Purplebricks offers a deferred payment option through a third-party credit provider, allowing you to pay the fee later, often up to 10 months after listing. However, this is still due even if the property doesn’t sell.
• Extra Services: Additional services such as professional photography, premium listings, and accompanied viewings may incur extra charges.

3. What Do You Get for the Fee?

When you list your property with Purplebricks, the basic fee includes:

• Property Listing: Your property is listed on popular online portals like Rightmove and Zoopla.
• Online Dashboard: A digital platform where you can manage viewings, communicate with potential buyers, and receive offers.
• Local Property Expert: An assigned local agent to provide a property valuation and some support throughout the selling process.

However, it’s essential to note that Purplebricks primarily operates online. While you do get access to a local property expert, they are not as hands-on as traditional agents. Additional services, such as accompanied viewings, can cost extra.

4. Hidden Costs to Be Aware Of

While Purplebricks markets itself as a cost-effective solution, there are a few hidden costs to consider:

• Accompanied Viewings: If you want a Purplebricks agent to conduct viewings on your behalf, it costs extra (typically around £300).
• Enhanced Marketing: Premium listings or featured adverts on property portals come at an additional cost.
• Cancellation Fees: If you opt for their deferred payment plan and decide to withdraw your property from the market before it sells, you may still owe the full fee.

5. Pros and Cons of Using Purplebricks

Before deciding to sell your property with Purplebricks, it’s essential to weigh the benefits and drawbacks:

Pros:

• Fixed Fee: Potentially cheaper than traditional agents if you’re confident your property will sell quickly.
• 24/7 Online Access: Manage your property listing and communications via an online dashboard.
• Deferred Payment Option: Pay later if you can’t afford the upfront fee.

Cons:

• No “No Sale, No Fee” Guarantee: You pay the fee whether your property sells or not.
• Limited Hands-On Support: While you get a local expert, the service is mostly online, which may not suit sellers who need more hands-on assistance.
• Additional Costs: Essential add-ons like accompanied viewings and premium listings can increase the overall cost.

6. How Does Purplebricks Compare to Traditional Estate Agents?

7. Is Purplebricks Worth It for Your Property Sale?

Whether Purplebricks is worth it depends on your specific needs as a property seller:

• Ideal for Experienced Sellers: If you’re familiar with the property market, confident in managing viewings, and comfortable handling negotiations, Purplebricks could be a cost-effective option.
• Not Ideal for Complex Sales: If you’re selling a high-value property or need more hands-on support, a traditional estate agent may provide a better return on investment due to their full-service approach and “no sale, no fee” structure.

8. How Fraser Bond Can Help with Your Property Sale

At Fraser Bond, we understand that selling your property is a significant decision. We offer a full-service, hands-on approach that includes:

• Comprehensive Marketing: Listings on major property portals, targeted advertising, and professional photography to attract the right buyers.
• Personalised Support: Dedicated estate agents who handle everything from viewings to negotiations.
• No Sale, No Fee Guarantee: You only pay if we successfully sell your property, ensuring peace of mind.

Whether you choose Purplebricks or a traditional agent like Fraser Bond, it’s essential to weigh the costs and benefits to find the best solution for your property sale.

Conclusion

Purplebricks offers a fixed-fee service that may appear cheaper upfront, but it's not entirely free. If you’re considering using Purplebricks, ensure you understand the full scope of costs involved, especially if your property doesn’t sell. For sellers who want a more comprehensive and risk-free experience, a traditional estate agent may be a better fit.

Thinking about selling your property? Contact Fraser Bond today for expert advice and a no-obligation valuation.

FAQs

1. Is Purplebricks really free to use?

   • No, Purplebricks charges a fixed fee, whether your property sells or not. The service is not free.

2. Can I cancel my agreement with Purplebricks if I change my mind?

   • Yes, but if you’ve opted for the deferred payment plan, you may still be liable for the full fee.

3. What happens if my property doesn’t sell with Purplebricks?

   • You will still have to pay their fee, as it’s not based on a "no sale, no fee" model.

4. Are there any hidden costs with Purplebricks?

   • Yes, additional services like accompanied viewings, premium listings, and enhanced marketing incur extra charges.

For more personalized advice on selling your property, reach out to Fraser Bond for a consultation tailored to your needs.