The lid has been lifted on UK estate agency pay by the latest salary research from a leading recruitment agency, which reveals that lettings agents earn substantially more than their sales colleagues.
Of those surveyed by Rayner Personnel, 60% of letting agents said they earned more than £30,000 compared to just 50% of sales agents.
At the top of the scale, pay is slightly more equal with 8% of both lettings and 6% of sales agents earning more than £100,000 a year.
Other highlights of the research include:
- Agents are an ambitious lot – 34% expect to earn more next year despite Covid.
- Just over half of agents earn less than the UK average salary of £30,629.
- 22% earn between £30,000 and £40,000 a year when commission is considered.
- A third of estate agency directors take home £100,00 or more.
60% of staff benefit from a company car or car allowance.
- 11% of all estate agents earn £100,000 or more.
17% expect their salary to drop this year.
- 98% of agents are in full time employment.
There is no significant pay difference for those working within corporate and independent agencies.
Looking at the earnings on offer by job role, most lettings negotiators earn £10-£20k., sales negotiators and sales valuers/listers between £20-£30,000 and branch managers £30-£40,000 and directors £60-£80,000.
“Perhaps the most promising takeaway from this research is that the majority of agents think they will earn the same or more over the next year,” says Josh Rayner, CEO of Rayner Personnel.
“As the boots on the ground, they are the first to see the market turn and this show of confidence echoes wider signs of a property market recovery that have materialised over the last few months.”