“The Purplebricks flotation demonstrates just how far the online estate agent industry has come and how strong it is. It wasn’t long ago that people dismissed it as a passing fad, but this move shows that consumers are wising up to the fact that they no longer have to pay astronomical estate agency fees when selling their home and that there is an alternative.
This way of thinking is further backed up by the recent Government announcement that it wants to encourage online-only estate agents. In its new Treasury paper on boosting market competition, there’s an ‘injecting innovation into the process of home buying’ section, in which the Government talks about wanting to arm consumers with quicker, simpler and cheaper ways to buy and sell homes. It makes specific reference to the fact that new business models, such as online only estate agents, will enhance price competition, and should therefore be encouraged.
This year Tepilo has seen a 400% increase in turnover and we are well on course with our aim for 2016 of exceeding £10million in turnover, which is incredibly exciting and shows just how well positioned we are financially. At Tepilo we consistently sell homes over the asking price and have saved our customers millions of pounds in fees, so it’s no wonder that investors, consumers and the Government are starting to sit up and take notice.
It’s great that the industry is finally being recognised for the cost saving benefits, customer service and flexibility it can offer customers when selling their homes.”