StockMarketWire.com - Purplebricks announced that it is formally launching its business in the US today. In line with the region by region rollout successfully adopted for entry in the UK and Australian markets, the US launch will commence in Los Angeles, before extending across the state of California and other targeted key states thereafter. As the 6th largest economy in the world by GDP and the leading US state in terms of both number of annual real estate transactions (442,320, source: California Association of Realtors) and an estimated commission income of $12bn p.a, California is the natural launching point for US expansion. Although California, at 12.6m households has less than half the UK equivalent, the level of commission income in California is more than double that of the UK. The diversity and density of the Los Angeles population and broad spread of low to high price properties, will enable us to demonstrate the high quality of service across all demographics and the potential savings that customers can achieve. The Purplebricks technology platform and customer offering has undergone a transformation to meet the intricacies of the US market, while staying true to the core customer proposition of value for money and high quality customer service. This is delivered through a combination of Local Real Estate Experts (LREEs) and technology. Purplebricks has successfully adapted its technology and customer offering previously with its launch into Australia in 2016. CEO Michael Bruce said: "Launching Purplebricks today in the US is the single biggest moment in the company's three-year history and a proud moment for me personally. "It is testament to the quality and dedication of the team that we have achieved this ahead of schedule and expectations. We are excited about the opportunity, in this $70bn market, while mindful of the challenges. "We have planned accordingly, adapting both our technology platform and customer proposition, while building out an infrastructure and local team, with decades of experience. "As we rollout across California and beyond we will closely monitor progress and have the capability to further quickly and efficiently refine our model, if and where necessary. "For the LREEs we recruit, Purplebricks presents an exciting new platform to build scalable, profitable businesses in their own dedicated regions, supported by our strong technology infrastructure and the benefits of our extensive TV and radio led marketing. "I am very excited about the quality of the applicants keen to be part of our ambitious US growth plans. For sellers, we offer a more efficient and effective 24/7 service and the ability to save thousands of dollars. Buyers will benefit from access to our leading technology, best in class search functionality and a faster, more efficient service. "Purplebricks is now in three continents in just over three years. We are confident that we are leading irreversible change in the industry and that we are best placed to realise the future global opportunity." Story provided by StockMarketWire.com