And just like that
control alt delete
It’s Purplebricks time to exit the US market
“Significant opportunity to disrupt the US market remains but it would take substantially more management time and resources then the company is able to commit at this time” Said PurpleBricks a UK-based company.
Purple bricks set out to dominate the US market and in less than 2 years it does the complete opposite as it shares plummet 75% and therefore is forced to exit not only the US but Australia as well.
Essentially purple bricks is a discount broker with a flat fee to list a property. I see it as kind of a reduced service with a combination of do it yourself.
The discount brokers and iBuyers are growing and even though companies such as the Purplebricks fell flat on their face more will continue to enter our marketplace.
However…there is a way for you to disrupt the “so called” disruptor and that is for you to become ultra specialized and sharp in your niche.
These Swift, digitized, proprietary software systems cannot compete with your human touch and understanding of what a human being really needs.
Yes, do know and understand how to leverage technology, but know how to identify the weak points that these automation and profit only companies are focused on.
So how do you do that?
- Become a specialist versus a generalist
- Learn everything that you can about that specialty
- Listen before you speak with your sellers and take time to digest
The growing trend in our probate real estate industry is the increasing number of foreclosures and reverse mortgage loans that the heirs don’t know what to do with.
As we speak there are millions of Real estate assets that are left behind to the deceased heirs that are being lost to the bank.
Most reverse mortgage loans are incorrectly categorized as upside down in value by the attorneys and the Estates heirs.
These are circumstances that iBuyers or discount brokers would never understand how to handle.
When Purplebricks said that they needed more management and resources in order to function in the US, I believe that what they are truly missing is the ability to connect a person’s real needs with the real estate marketplace.
Even though profit matters, we are people and service providers first and there is no way an iBuyer can compete with that.
To your success,
Ernie “I am not a Robot“ Vargas