THE MODEL: A
platform for real estate owners where they can get their property valued and
offer for sale/letting out. The valuation is free and the platform charges a
fixed fee for allocating a dedicated expert who will assist and execute the entire
process.
STARTUP: PurpleBricks (British startup)
WHAT I LIKE
Core Idea – A
good product offering for property owners.
Time & Money
Savings – A fixed fee saves money for the owners and a dedicated expert
ensures that the transaction happens smoothly and in a short frame of time.
Value Additions for
Customers – Allocating experts adds a lot of value for property owners.
They help in assessing the property, creating adverts, finding buyers and in
the final contract.
CONCERNS
Competition – The
real estate market is filled with brokers. Also online marketplaces and brokers
result in intense competition in this space.
Business Model – These experts work exclusively with Purple Bricks.
Hiring experts as you grow may impact profitability as well as scaling
potential of the startup.
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