Estate agents should be paid more says industry duo

Consumers will continue to buy on price and not service as long as the UK views estate agency as an easy career option without regulation or qualification, recruitment bosses have warned.

paycheck

Consumers will continue to buy on price and not service as long as the UK views estate agency as an easy career option without regulation or qualification, recruitment bosses have warned.

Peter Sheppard, managing director of recruitment outsourcing company Hintel, and Andrew Deverell-Smith, chief executive of recruitment firm deverellsmith, took to The Sunday Times this week arguing estate agents should be paid more.

They argued paying a fair rate and demanding fair service would be the first step to ensuring a positive experience all round.

SERVICE

Owning a home is still the biggest financial commitment most people will make in their lives but there is still a race to the bottom when negotiating estate agent fees and as a result service suffers.

Low basic wages combined with a lack of regulation had left the industry open to “those after a fast buck” where good customer service comes as an afterthought.

Mandating a baseline qualification or training programme would attract those willing to learn and deter rogue agents.

DERISION

Unsurprisingly the argument was met with some derision on Twitter.

Property buying agent Henry Pryor Tweeted: “What tosh!” in direct response to The Sunday Times headline, “We need to pay estate agents more money” while Bank of Baby Boomers @LdnParris replied “The world’s most useless parasitic profession”.

Others had more sympathy with the argument.

What I love about estate agency is it’s a meritocracy.”

Broker Mortgage Mike @MortgageMikeN2 replied: “What I love about estate agency is it’s a meritocracy. It doesn’t matter your background, race, or sex, if you’re willing to put in the work the earning potential is fantastic. Have arranged a lot of mortgages for estate agents earning over £100k per year and they deserved it.”

REGULATION

Peter Sheppard told The Neg: “A lack of regulation does allow for the few to degrade the perception of the many.

Peter Sheppard, Hintel
Peter Sheppard, Hintel

“Estate agency isn’t necessarily a straightforward job. A good estate agent does a hell of a lot more than simply listing property on the portals. The industry could be better at demonstrating the worth that they offer.

“Estate agents shouldn’t devalue the job that they are doing. Good and consistent training couple with good regulation could allow agents to justify their pricing ability.”


What's your opinion?

Back to top button