Purplebricks to raise fees and scrap money back guarantee

Purplebricks is to increase its pricing and drop its money back guarantee.

In one of the first acts by new chief executive Helena Marston, pricing will be increased on 11 July and its money back guarantee will be scrapped from 25 July.

The standard package will increase from £999 to £1,199.

The pro Package will increase from £1,399 to £1,599.

The higher priced regions Classic Package will increase from £1,499 to £1,999.

The higher priced regions Pro Package will increase from £1,999 to £2,499

Marston described this as a “necessary step, not just to strengthen our revenues, but also as a result of the additional costs our business has had to absorb over the past few years.”

She also said in a note to staff that the money back guarantee – available if a property doesn’t receive a credible offer within 10 months of listing – will be scrapped.

She said: “When this was introduced, its objective was to inspire confidence among customers that we would deliver for them, and if we did not, they had the opportunity to get their money back. 

“However, feedback shows it was not highly valued by customers and too many of our conversations in the living room have been taken up discussing the impact of failure, rather than demonstrating why our affordable proposition will succeed.

“We hope its removal will support our field agents and focus all their attention on communicating our affordable fixed, upfront fee and build confidence with our customers that we will sell their homes.”

Written by: Houseladder