WHEN real estate business Purplebricks made the snap decision to leave the Australian market in May, it came hot on the heels of the concept being introduced in Bathurst.
Accomplished real estate figure David Chapman was their representative and had no idea when he launched Purplebricks locally that seven weeks later he would be out of a job.
"In the UK, Purplebricks is the number one brand, whereas in Australia they hung around for two years and it was just starting to go into regional areas," he said.
"Before we had a chance to really expand into regional areas, Purplebricks decided to pull out of the market."
While the abrupt end was a shock, Mr Chapman doesn't resent the company and is actually taking the concept that drew him to Purplebricks into his new venture, Agent Chapman Real Estate.
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The major selling point for Purplebricks was its fixed fee of $8800, regardless of how long the property was on the market for and its eventual sale price.
"I've chosen to take a similar approach, or strategy, as Purplebricks, but I've tailored that to suit the local market," Mr Chapman said.
"I have a tiered fair fixed fee system which is going to save local home owners money in the market."
Mr Chapman said the average agent charges a three per cent commission, but, largely due to his low overheads, he can offer a much more competitive price.
Agent Chapman will charge $7990 for homes that sell for between $300,000 and $500,000.
Homes sold for between $501,000 and $700,000 will result in a fee of $9990. The next tier, $701,000 to $900,000 homes, has a fee of $11,990.
Any home that sells for over $901,000 will result in a fee of $13,990.
Mr Chapman said this model has the potential to save vendors thousands of dollars, while still receiving quality print and digital marketing, professional photography, floorplans and the expertise of an experienced real estate agent.
"I valued the transparency of the Purplebricks model. which is people understanding from the get-go how much money they'll be paying the real estate agent and you'll be seeing that transparency with Agent Chapman," he said.
He already has one listing, which went under offer after just four days on the market.
Mr Chapman said he hopes people can look past the demise of Purplebricks and put their trust in an experienced real estate agent with a proven track record.