Purplebricks vs Homesty: Is the Estate Agent Model the Next Blockbuster Moment?

Purplebricks vs Homesty: Is the Agent Model the Next Blockbuster?

Purplebricks once strutted in as the Netflix of property — “fixed fees!”, “no commission!”, “we’re reinventing estate agency!”.
Now, their fee-free sales model has vanished quietly, and their losses have doubled. They’re still alive, but they’re giving serious Blockbuster-at-its-peak energy.

They built an online shopfront.
They didn’t rebuild the industry.

Homesty: From Purple Suits to Proper Disruption

Enter Homesty. No shiny branches. No agents wanting 12% to forward an email.

✔ £39 per tenancy
✔ Only if the tenant moves in
✔ Digital contracts via DocuSign
✔ Deposits and first rent via Stripe
✔ Tenant-landlord chat in-app — not WhatsApp pinging at 10pm

Duncan (Co-Founder):
“Purplebricks digitised the brochure. We digitised the entire workflow. That’s the difference. We’re not trying to be a better agent — we’re trying to make agents optional.”

Why Purplebricks Fell into the Blockbuster Trap

Let’s be honest — they tried to modernise agency but kept all the baggage:

• 90% of the first month’s rent as a setup fee.

• 9.6% to collect rent.

• 12% + VAT for “fully managed”.

• Renewal commissions, courier fees, document fees… and probably a fee to breathe near the property.

They built the website version of a high-street agent.
Not the software version of a landlord.

Just like Blockbuster added nachos instead of adding streaming.

Check your fees with our flat rate >

Homesty’s SaaS Model — The Netflix Ending

Homesty isn’t an agent.
It’s renting — rebuilt like software.

• List → Chat → Contracts → Deposit → Rent → Maintenance Coms → All in one workflow.

• No 12% management fees.

• No renewal commission because your tenant stayed loyal.

• And landlords still keep control.

Xavier (Co-Founder & CTO):
“Estate agents sell service. Purplebricks sold fixed fees. We built infrastructure. Once the workflow lives in software, the percentage fees have nowhere to hide.”

So… Are Estate Agents the Next Blockbuster?

Why SaaS Wins Where Fees Fail

• Scales like software — not like staffing.

• No shopfront, no fleet of Minis (okay that might be more like Foxtons), no 12% fees.

• Works for landlords who self-manage but still want contracts, deposits, direct chat with tenants No using own number and emails share, workflows done right.

• Regulatory updates can roll out with a push of code — not a new policy binder.

Duncan again:
“We don’t believe landlords want another agent. They want control, clarity, and no one skimming 14% of their rent just to forward messages.”

🎬 Stay Tuned: Streaming Soon — Homesty Property Parody Movies

Because if agents can charge 90% of your first month’s rent, we’re allowed to make movies about it.

Homesty Studios is proud (and slightly embarrassed) to present:

• Forrest Grump — “Agents are like a box of chocolates… you never know if you’re going to get the rent.”

• Letting Holiday — The festive tale of love, boilers, and overdue gas safety certificates.

• Letting Juice — He’s back from the deed. And he’s brought renewal fees with him.

“We’re not just reinventing lettings — we’re turning it into cinema.”
— Duncan, Co-Founder, Director of Popcorn & PropTech

“If Purplebricks is Blockbuster, we’re Netflix… but without late fees.”
— Xavier, Co-Founder & Chief Workflow Wizard

So grab your popcorn, cancel your agent, and prepare to stream the future of renting.

Final Thought:

Purplebricks tried to modernise agency (Come on Connells hoover them up).
Homesty is quietly trying to make lettings agents… optional.

One digitised the dinosaur.
The other teaches landlords how to fly the yield spaceship!