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Startup Model – Online Estate Agent

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)

online estate agents

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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Location: London, UK

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