In a dire prediction for estate agents nationwide, Dutton Gregory Solicitors, a prominent law firm, has issued a stern warning that failure to expedite conveyancing times could lead to their downfall. The firm emphasizes that the sluggish pace at which many conveyancers raise enquiries and progress cases is needlessly prolonging completion times by weeks.
Dutton Gregory Solicitors is urging conveyancers to proactively address queries when the contract is initially drafted instead of adopting a wait-and-see approach. According to Paul Sams, partner and head of property at Dutton Gregory, the deliberate delay or transformation of the conveyancing process into a combat sport is both perplexing and detrimental.
Sams asserts, “Clients seek certainty and efficiency, and the timely completion of their property transactions is crucial for estate agents to meet payroll obligations.” He further emphasizes the wider repercussions, stating, “If a local estate agency practice folds, it not only delivers a severe blow to the individual business but also undermines the overall health of the housing market and the economy at large.”
Sams highlights that expediting transactions benefits everyone involved, stating, “It is in everyone’s interests to complete transactions in the shortest time possible.” He points out the alarming occurrence of Dutton Gregory’s conveyancing team receiving more than 40 new inquiries within a 48-hour period, just as the entire chain is on the verge of exchanging contracts. Such last-minute influxes jeopardize every linked transaction and leave everyone involved at risk.
Sams expresses astonishment at the reluctance of certain individuals to foster a team-oriented approach. He advocates for collaboration with industry peers to enhance service levels and ensure the survival of the entire supply chain.
The call to speed up conveyancing times comes as estate agents face mounting pressure to adapt to evolving market conditions and customer expectations. Failure to prioritize efficiency and responsiveness may prove fatal for these businesses, impacting not only their bottom lines but also the broader housing market and the national economy.