Purplebricks was founded in 2014 with the lofty ambition of empowering homeowners to sell their property themselves. At the time, the brand’s more affordable online business model was hailed by many as the answer to the outdated and expensive practices of traditional estate agents. Fast-forward to 2023, however, and a company once worth £1.4 billion was sold to rival estate agent business Strike for just £1.
Backed by a venture fund led by Carphone Warehouse and TalkTalk founder Sir Charles Dunstone, the sale came after years of over-expansion and a reputation that failed to live up to its promises. Despite all this, the brand remains determined to shake up the housing market, with Dunstone telling the Financial Times: “Purplebricks has dramatically changed the industry by driving down the cost of estate agency and we aim to combine its significant brand recognition with an even more disruptive business model.”
The recent merger with Strike, which already operated a similar model in the north of England, means that homeowners will now be able to sell their houses with Purplebricks for free, with the option to purchase extras such as professional photography and placement across more digital sales platforms. Its revamped business proposition was marked with a relaunch campaign led by Brothers & Sisters at the end of last year, along with a new brand strategy and visual identity developed by regular collaborators, Sonder & Tell and Regular Practice.