Estate agents could significantly increase their income by switching firms, according to a new report from recruitment specialists The Ambitious Group.
The research found that the vast majority of property professionals feel underpaid, with most existing employees on the lookout for a new job.
The Salary & Benefits Survey found 70% of respondents believe they are underpaid, and of those, 91% said they would consider moving jobs in the next 12 months.
Just 43% of property sector respondents said they felt valued in the workplace, with less than a quarter – 22% – saying that they felt ‘highly valued’, with almost all of these respondents in more senior positions within the industry.
Aside from more pay, most agents also seek greater benefits and perks, from greater holidays and car allowance to flexible working and private healthcare.
The report, which can be viewed here, also showed typical pay scales across the sector including for estate agents and offered an indication of how much those working in the sector can expect to receive when switching jobs.
Branch managers pay ranges from £25,000 to £38,000, which was a 14% increase for those moving jobs between January 2022 and May 2023, while Key account managers in estate agency are typically paid between £30,000 and £46,856 – up 32% when switching jobs.
The report also found that sales managers and negotiators have also seen their salary increase by around a quarter when finding a new role, while sales executives have swwn pay jump by 50%, from £22,507 to £35,000.
Robin Tossell, managing director of The Ambitious Group, said: “This report is packed full of valuable information for both Employers, who are able to use this to both retain their existing team and attract new people, and also to Employees, who can benchmark their salary and benefits against the industry.”
“As an employer, it is easy to keep the blinkers on when it comes to benchmarking your own Salary and Benefits Packages. This report helps you remove the blinkers and look at what your competitors are up to.”
I like the stock image of a sad salesman in black and white
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Slow month for recruitment? Good staff that are valued won’t move. Grass is not always greener and to be fair, unless you are a serial jumper why on earth would you move right now! Cash flow is an issue for most estate agents at the moment if everyone is being honest. Agent moves, times get tougher, agent gets asked to leave as been employed under two years.
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Marc – Where can we read this report? looks like I’m overpaying my staff..
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I thought all the best ones are in Dubai.
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Or those that can afford a Rolls Royce, in prison.
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I thought all the best ones are in Dubai, but cant afford socks (slim fit suit brigade) ****** hate those guys 🙂
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EA used to be a well-paid sales job
Now it is an admin job and is paid accordingly
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Everyone else’s job is an admin job to you it seems Jan.
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EA yes
Lawyer yes
Bricklayer no
Electrician no
Surgeon no
Vet – no
Tree surgeon no
Etc
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Christ on a bike, its Jan – ” I’m a developer don’t you know ” – Byers pontificating again, The sales element is getting instructions, good luck administrating a living out of that.
Sales control with chains long and small, multiple points of weakness and partners who could be anywhere from great to invisible, partners with different roles in bringing together the component parts and the worlds longest cooling off period. Good luck administrating your way out of that.
Clueless.
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Chain chasing is an admin job.
I was an EA for years and a very succesful area manager thanks.
What i do now is far more difficult than being an agent
Clueless.
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This is the point
You are making out sales chasing to be a difficult job when it is just an admin job
That is why agents do not get paid high salaries
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you sound like a lovely person and a tad stuck up. what a ridiculous comment to say estate agents are just admin people
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You are not alone localagent735, conveyancing is also only an admin job according to Jan.
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This report unfortunately is very North and Midlands orientated. The sample from the South is small so not very representative. It would be interesting to see a similar report for the South as well.
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Mosts estate agents are not qualified in anything specific and they would get a salary shock if they stepped out into the real commercial world.
For great sales people with the right attitude, and who care they are rewarded well and their salaries are uncapped.
However, good staff retention is about two key factors. the environment within the company and recognition. It’s not usually only about money. Good staff leave poor companies because they don’t get stretched, challenged or recognised for they talents.
And if the race to the bottom on fees was halted and we quoted what we were worth, not what we have to quote to compete, more firms would have more money to pay better salaries. But I suggest for all you bosses and owners out there, the starting point on good staff retention is to review your attitudes the environment of your company and the respect and recognition (not money) you pay your staff
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Damn the salary has drained out of being a negotiator. Back in the 90’s as a simple neg in a normal high street (Green Lanes, Harringey, North London). I was on £25k (ish) including commission – I worked hard and shifted some units.
By 1998 I was a branch manager for the same company on £40k basic + a branch based bonus package that took me up to about £80k total. We shifted a whole load of units but nothing wild – we were a force to be reckoned with but not completely market dominant.
But the purchasing power of money halves every 25 years due to the effects of inflation.
That would mean today that an equivalent wage would be in the region of £150,000 as a branch manager in a normal high street.
I don’t think that’s remotely possible any more.
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