Conveyancing specialists AVRillo has pledged to boost estate agents’ profits by cutting their fall-though rates from the average 37% to just 5%.
Senior partner, Angelo Piccirillo, made this promise despite the recent slowdown in the housing market.
He said: “Cash is king. Most home buying deals take five months to complete – that’s almost half a year without payment. No business can operate in this way.
“On top of that, 37% of deals fall through which means that on a pipeline of £250,000, agents can expect to make £157,500. But we have a completion rate of 95% -which is an extra £80,000 in agents’ pockets.
“And we will make sure agents get paid quicker, too. We promise to complete in 2 or 3 months.”
“We used to be estate agents and we understand what frustrates them financially and emotionally.
“We train all our lawyers to be specialist residential conveyancers but also to take a practical view – like an estate agent.
“We focus on getting the deal done not arguing with other lawyers. We don’t do anything else so we’re good at offering safe, commercial views. It’s going to be tougher in 2023 than it was last year. “We make this pledge to all of our clients – ‘use us and you won’t go bust’.”
AVRillo has expanded substantially over the past 12 months, having taken on an extra 40 conveyancers last year and expanding their nationwide coverage as far north as Manchester.
“Our aim is to keep on expanding,” said Piccirillo. “High Street agents are our core focus – we understand their pain points.
“We communicate like estate agents, we don’t sweat the small stuff, we allow clients to take a view. “Also, we don’t get paid commission if agents don’t get paid. Traditionally, if a deal falls through, the lawyers still charge – it’s everybody else who suffers.”
