A national firm has launched an unprecedented attack on other firms in the sector, suggesting that property lawyers are slowing down the process and putting estate agents out of business.
In an unprompted press release, Dutton Gregory said many other firms were taking too long to raise enquiries and progress cases collaboratively, setting back completion times by several weeks.
The firm said the industry average for completing transactions was 61 days, but its own record was typically to move from receipt of contract to exchange within 25 days.
Paul Sams, partner and head of property at Dutton Gregory, said: ‘I don’t understand why any lawyer would want to slow the process down or turn it into a combat sport.
‘Clients want certainty and efficiency, and the completion of their property transaction is essential for estate agents to be able to pay staff wages.
‘It’s not uncommon for our conveyancing team to receive over 40 new enquiries 48 hours before the whole chain is expecting to exchange contracts, which can put every linked transaction in jeopardy. It astounds me that some folks just won’t work as a team.’
This time last year, Rightmove reported that it took 150 days on average to move house, and Dutton Gregory said this situation remains virtually unchanged, despite Covid restrictions being fully lifted in March 2022.
The firm says many estate agents are at risk of going out of business unless conveyancing firms improve efficiency and turn around the legal side of transactions quicker.
Sams added: ‘If a local estate agents practice folds, it’s a blow for not only the individual business but also for the overall health of the housing market let alone the economy at large.
‘At a time where there is a shortage of housing, completing transactions in the shortest time possible is in everyone’s interests. We want to work with our industry peers to improve service levels and help the whole supply chain to stay in business.’
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