Category Archives: Agency Spotlight

100 Staff Now Effectively Unemployed As Purple Bricks Quits Australian Market

The “Old Fashioned Commission Collectors” have finally won out in the “Purple Bricks Vs Agents” war that’s waged since the disruptor came to Australia. Purple Bricks CEO Vic Darvey has confirmed to AFR that after less than 3 years, the company is to cease trading in Australia over the coming months, as it quits the Australian market. Citing “market conditions

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More Bad News For Purple Bricks: Shares Price Forecast Slashed

Purple Bricks is hitting headlines a lot in recent months, unfortunately for all the wrong reasons. The anti-commission-collector brand was hit with more bad news from investment bank analysts this week shortly after being advised by Berenberg Investment Bank to “Get out of Aus & US to Survive”. This week’s headline is a slashed share price forecast by investment bank

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LJ Hooker Avnu CEO Walks

A year has not yet passed, and LJ Hooker’s “disruptor” agency Avnu has lost a key executive from the business. Jason Chuck has left the group to join Domain, taking his experience with several tech companies including eHarmony and Houzz with him. Chuck told AFR he left Avnu for “personal reasons”. This newest announcement comes after LJ Hooker abandoned plans

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Purplebricks Sales Director: No-Beef With “Old Fashioned Commission Collectors”

Purplebricks tried to offer an olive-branch to the industry, but it came out like a poke in the eye with a stick. In a 28 minute podcast, the national sales director of Purplebricks Australia, Sean Green, has gone on record to try to quell the feud between agents and the self-titled disruptors. The interview appeared on the “Secrets of the

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Purplebricks Advised: Get out of Aus & US to Survive

Analysts from investment bank Berenberg have warned last Friday that the self-titled industry disruptor will need to exit the Australian & US markets if it wants to survive. The German private bank said in a note: “Having flown too close to the sun, with operations in five countries and cash burn of circa £7 million [$12.9 million] a month, we

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FSBO Company “BuyMyPlace” Sold To Accountancy Firm KordaMentha

First reported in the Australian Financial Review ASX Listed BuyMyPlace sold for $100,000 with over $5m in debt forgiven In May, auditors gave warnings about the company’s ability to continue trading Nearly $2.4m in salaries paid + $1m in share payments, including directors while earning $2.9m in revenue Accountancy firm KordaMentha to take control and try to “trade out of

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