Purplebricks ‘outstanding’, says vendor, as home sells $380k over reserve

PHOTO: Purplebricks

Purplebricks has copped endless hate since entering the Australian market: for having a poor business model, for misleading and getting substandard results for vendors and for recruiting “bottom-feeder” agents. But a recent sale in Victoria, where the property sold for $380,000 above the reserve, might suggest the criticism is not exactly warranted.

Vendors Kerrie and Phil Logan from Rowville in Melbourne chose Purplebricks agent Salvi Galati to sell their home because Mr Galati was “very personable and returned our calls”, and “the pricing was right”.

After 25 days on the market, the property, listed at $1,050,000 to $1,155,000, sold on auction for $1,480,000 where its reserve price was $1,100,000. The auction attracted 31 groups on the day and in the 40 minutes it took to conclude, it had more than 100 bids.

Mr Logan was thrilled with the result.

“It was quite outstanding,” he told REB.