There could be rough waters ahead for the flat-fee, UK-based brokerage disruptor Purplebricks, which is now in four U.S. states: California, Arizona, Florida, and New York.
I had heard they were planning to come to Dallas and Texas also — maybe not so after this news.
Purplebricks is NOT an iBuyer. It is more akin to our Door, to Trelora, and other flat fee brokers that are also taking traditional real estate by storm nip, nip, nipping at the traditional 6 percent (3 percent +3 percent) agent commision, among other things.
Purplebricks has been charging a flat fee of $3,600, up from $3,200, to sell a house. The company claims it is a full-service real estate experience for thousands less. Dallas-based Door, in contrast, charges $5,000.