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U.K. operator takes aim at 6% real estate commissions to the U.S.

  • London-based Purplebricks launches in Los Angeles today, armed with $60M from a recent capital raise. The company offers the full services of a typical real estate brokerage for a flat fee of $3.2K.
  • The company has operated in the U.K. for three years, and expanded to Australia in 2016.
  • Purplebricks joins Reali, which recently launched in San Francisco with a flat fee of $4,950.
  • Interested parties: Realogy (NYSE:RLGY), Re/Max (NYSE:RMAX), Zillow (NASDAQ:Z), and Berkshire Hathaway HomeServices (BRK.A, BRK.B).

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