Purplebricks picks California as first US expansion target

  • Purplebricks will operate as a cloud-based brokerage without physical offices.
  • Traded on the London Stock Exchange, Purplebricks has become one of the U.K.'s biggest brokerages since launching only three years ago.
  • Purplebricks agents will handle communication on behalf of sellers.

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Purplebricks, a U.K. real estate brokerage that raised $60 million to break into the U.S., plans to launch in California in the second half of this year. The hybrid brokerage is looking to hire hundreds of California real estate agents, promising recruits “territorial exclusivity” over ZIP codes, support staff and a steady stream of leads.