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. "As it builds a strong brand presence in California, Purplebricks intends to expand into other key U.S. states via a controlled roll-out strategy with a plan to accelerate coverage, as required," Purplebricks said in a press release. Purplebricks -- which will operate as a cloud-based brokerage without physical offices -- will offer a blend of technology, hands-on service and low fees to try to replicate its success in the U.K. Its technology platform provides features such as the ability for sellers to approve showings and view the performance of their listings. Eric Eckardt For now, Purplebricks agents will handle communication on ...
- 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.