Purplebricks Canada

Purplebricks Canada is a Canada-based real estate brokerage and a subsidiary of Purplebricks which was founded in 2012 by Michael Bruce and Kenny Bruce, and currently headed by CEO Vic Darvey.[6][7][8][9]

Purplebricks Canada
Formerly
ComFree[1][2]
Private
IndustryInternet & Real Estate
Founded8 January 2019
Headquarters
Canada
Areas served
Alberta, Manitoba, Ontario (Canada)[3]
ServicesReal Estate Brokerage
Number of employees
200
ParentPurplebricks Group Plc.[4][5]
Websitehttps://purplebricks.ca

History

Purplebricks is backed by investors that include venture capital firm DN Capital[10] as well as Neil Woodford, Paul Pindar, and Errol Damelin.[11][12][13][14]

Initially known as ByTheOwner, it comprised PrivateRealEstate in Ontario, ComFree in Alberta, ComFree in Manitoba, and Skhomes4sale in Saskatchewan,[15] was acquired by DuProprio in 2009.[16] After the acquisition, the company was rebranded as the ComFree network.[17]

In January 2012, the two ComFree Commonsense Network brokerages were launched in Ontario and Alberta.[18]

In July 2013, WeList.com joined the ComFree network.[19]

In 2015, DuProprio (the site's parent company) was purchased by Yellow Pages Group for $50 million.[20]

In 2018, the Purplebricks purchased Comfree/DuProprio network, as a Canadian real estate network that offered commission-free real estate services, for $51 million from Yellow Pages Group.[21][22][23][24][25]

Purplebricks rebranded the purchased network and launched in Canada on January 8, 2019. Purplebricks Canada followed a fixed-fee model for sellers, while following a cash back model for buyers.[26] They remained operating as Purplebricks in ON, MB and AB.[27][28][29][30][31][32]

Services

Clients have their home listed on Purplebricks.ca, as well as Realtor.ca through a board’s MLS system. Purplebricks employs local Realtors who know the local real estate market. These Realtors provide clients with a home evaluation that includes pricing recommendations based on current market analysis of their local area. Clients pay a flat fee to list their home with Purplebricks, regardless of the home’s value. The fee includes photography, a home listing on Realtor.ca and Purplebricks.ca, full time customer support, and selling advice from a local Realtor. Clients also have a Realtor to handle offers, negotiations and paperwork, and the company manages booking showings.[33][15]

Purplebricks offers a cash back Home Buying service to help clients find a home with the help of local Realtors who specialize in the field. They help the client find homes that match their criteria. Once a home is chosen, the Realtor helps the clients decide on an offer amount, handle the negotiations, navigate multiple offer situations, and finalize the deal.[33][34][35]

References
  1. "Taking spring 2019 real estate pulse in Edmonton | Watch News Videos Online". Global News.
  2. Lewis, Nigel (January 21, 2019). "Purplebricks launches in Canada but with directly-employed agents".
  3. "PAGE NOT FOUND ERROR 404". The Irish News.
  4. "Purplebricks hints at introducing No Sale, No Fee, as it looks to 'evolve' its pricing". Property Industry Eye. August 27, 2019.
  5. Salisbury, Ben. "PurpleBricks signals change to U.K. fees". AIM Group.
  6. Evans, Judith (March 23, 2017). "Is online estate agent Purplebricks overvalued?". Financial Times. Retrieved 2018-09-20.
  7. https://www.cbc.ca/news/business/discount-real-estate-1.4787422
  8. Burke, Tim. "M&A takes estate agent Purplebricks into Canada". www.fnlondon.com.
  9. "Estate agent Purplebricks enters Canadian market with acquisition". The Irish Times.
  10. "Purplebricks Gets Another £8M To Disrupt Real Estate Agencies In The UK". TechCrunch. August 18, 2014.
  11. Kollewe, Julia (3 December 2015). "Purplebricks float expected to value online estate agent at £240m". www.TheGuardian.com. The Guardian - Guardian News and Media Limited. Retrieved 18 May 2017.
  12. Steafel, Eleanor (3 December 2015). "Purplebricks becomes first online estate agent to list in London". www.Telegraph.co.uk. The Daily Telegraph - Telegraph Media Group Limited. Retrieved 18 May 2017.
  13. "Purplebricks shares dive on sales shock". BBC News. February 21, 2019 – via www.bbc.com.
  14. "Subscribe to read | Financial Times". www.ft.com.
  15. "Canada's largest commission-free real estate network launched". www.newswire.ca. Retrieved 2016-09-10.
  16. "DuProprio.com élargit ses horizons". Radio-Canada.ca. Retrieved 4 August 2014.
  17. "Duproprio.com change de couleurs". LesAffaires.com. Retrieved 4 August 2014.
  18. "Canada's largest commission-free real estate network launched". newswire.ca. Retrieved 4 August 2014.
  19. Stephenson, Amanda. "Calgary's WeList.com sold to ComFree real estate network". calgaryherald.com. Retrieved 4 August 2014.
  20. "Yellow Pages to buy DuProprio real-estate network for $50M". CBC News. Retrieved 2016-04-20.
  21. "Yellow Pages sells ComFree/DuProprio to Purplebricks for $51 million". The Montreal Gazette. July 2, 2018. Retrieved November 13, 2018.
  22. "British commission-free realtor expands to Canada" – via The Globe and Mail.
  23. "Subscribe to read | Financial Times". www.ft.com.
  24. "Purplebricks expands into Canada through acquisition".
  25. Kollewe, Julia (May 7, 2019). "Purplebricks boss exits as online estate agent scales back expansion" – via www.theguardian.com.
  26. "Subscribe to read | Financial Times". www.ft.com.
  27. "Hamilton real estate market reacts to the colour purple". The Hamilton Spectator. February 21, 2019 – via www.thespec.com.
  28. "Turf wars: Real estate sales are ripe for disruption and big foreign players are moving in, but they're in for a fight" – via The Globe and Mail.
  29. "Commission impossible: The Purplebricks disruptor is coming to Canada - The Lawyer's Daily". www.thelawyersdaily.ca.
  30. Warncke, Cila. "Purplebricks acquires DuProprio in Canada". AIM Group.
  31. "We Sold! Why We Chose Purplebricks to Work With to Sell Our Edmonton Home". January 24, 2020.
  32. "Tech companies offer new ways to buy, sell homes in Edmonton | CBC News".
  33. "For Sale by Owner". ratesupermarket.ca. Retrieved 4 August 2014.
  34. Perkins, Tara. "How Canada's housing downturn threatens to shake up real estate commissions". theglobeandmail.com. Retrieved 4 August 2014.
  35. "ComFree earns Manitoba real-estate broker licence". cbc.ca. Retrieved 18 March 2015.
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