Most estate agents have not had their basic pay changed for a year.
According to a new report by the RICS, 60% have had their basic pay unchanged, and just 36% have had rises – leaving a net balance of 4% whose basic pay has gone down.
The RICS and Macdonald & Company UK Rewards and Attitudes Survey 2011 is the result of a poll of over 8,000 RICS members, including commercial agents, surveyors and residential agents.
The survey puts the average UK property salary at £50,250, a 5.6% increase on 2010, but does not break down different types of property professional.
However, estate agents would appear to be earning a lot less than their fellow property workers. According to a salary survey by recruitment firm Total Jobs, which analysed 824 placements, the typical estate agency salary is £25,000, with a low of £19,000 and a high of £37,500.
(EAT’s note of caution: the Total Jobs website is in beta mode.)
The RICS survey shows that men in property earn around £10,000 a year more than women, and also get higher bonuses, with men’s bonuses averaging £12,729 and women’s £7,784.
At a glance:
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Average UK property salary: £50,250 (+5.6% from 2010)
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Average UK property bonus: £12,125 (+0.3% from 2010)
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Highest average regional salary: Greater London £58,093
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Lowest average regional salary: Ireland £41,716
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Average salary by gender: male £52,008, female £42,044
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Average bonus by gender: male £12,729, female £7,784
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Percentage of professionals receiving an increase: 37% (+15.6% from 2010)
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Average property salary increase: 6.2% (+19.2% from 2010)
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Percentage of professionals receiving bonuses: 34% (+9.7% from 2010)
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Comments
Thanks PeeBee!
Average Joe, my name is Ric (to bring some element of humanity to mine and your rant!)
I understand and accept you have a view and I have already posted I agree agents have a bad reputation!
The reputation will be a stigma which will "Never" go away, whatever happens, we all like to hate someone and turning on lollypop people or retail assistants will never happen, it will always be politicians, traffic wardens, lawyers, journalists, estate agents etc...
I think what agents would like is perhaps a such closely related industry like your own to have a spokeperson speak in support based on their own dealings, perhaps not jump on the band wagon...unfortunately your latest reponse is "look on google" the ultimate media for impartial opinion?????
Google is without doubt a great place to find an opinion over 2million ariticles on your suggestionI have never really used google in that way, always used my own experience to pass comment on a profession or if I have never dealt with an industry I just dont comment!
Anyway, with good humour I googled "who is average joe" and the first result was headed Average Joe is built on lies......I chuckled (not Barry Chuckled hes long gone in this debate) just chuckled at the irony of the first result and then realised I had put the word "lie" in after "Joe"! I had never realised google finds exactly what you want it too!
I hope one day we can change your opinion of us or just even me!...regards Ric
My first post was provocative. So what?
I do not feign support for agents anywhere in my posts. I simply say I do feel sympathy for the good agents. Feeling sorry for someone and supporting them are not the same thing.
Certainly Qualified Agent does not believe I support agents as he states of my posts "yet it appears your suggestion is that surveyors are best not asking for help from EA's anymore? due to the complete lack of ability and integrity we have."
If you need a reality check regarding the reputation that estate agents have just google the following:
why do estate agents lie
and read the many many pages:
I have no axe grind. Estate Agents have a bad reputation. It is up to you as a collective to change that.
Average Joe: Too late now I am afraid to feign support for Agents - you lost all credibility with your first post and frankly I am surprised you were let off so lightly by those who usually jump to defend their profession. Perhaps they are just sick of juvenile, uninformed comments.
'Qualified Agent' is absolutely on the money - if not to raise hackles, what was the point of posting what you did?
You didn't add any weight to the problems that decent, professional Estate Agents (that would be the majority, in my experience...) already have to deal with just to do their jobs - people like you ARE the problems. Cheap digs are not clever.
And for the record, I am NOT an Estate Agent defending myself or my profession. If I were, I probably wouldn't have given you the satisfaction of my bothering...
@Average Joe
As your remark was directed at me, as per your post to Countrylass.
Your first post was generic and simply generalised every agent. You did not say in that post that you did not agree with your dad, so hairs on the back stand on end and out comes the gloves.
Rightly or wrongly (i hope you will agree) if a thread headed QS's are losers in Salary Stakes and one of the posts read that "EVERY" QS in the country are not worthy of what they do, you seem the type of person who would defend "you" and possibly any other good "QS" you know.
So my point only is "Not all agents are the same" but I agree some do pull our industry down.
As a Director of a Indep firm Estate Agents with 3 offices we have FRICS, FNAEA, MNAEA, ARLA, DEA's and HI at board level, down to Junior level and we pride ourselves on Staff training and public image, 20 years of success against the corporates is our boast to getting this right and yes I get things wrong and my choice to be a member of these bodies I too can get in hot water.
I work closely with the major Surveying firms accross the country and never think twice about the help I offer them FOC with obligation yet it appears your suggestion is that surveyors are best not asking for help from EA's anymore? due to the complete lack of ability and integrity we have.
anyway....like everyone on this site it is here for conversation, opinion, banter and hopefully for us all to learn a little!
Have a good weekend all.......!
Oh, cool. Thanks for telling me. Won't feel quite so lost when she tells me about her course now! Still probably won't understand about 80% but hopefully I'll look less poleaxed!
Country Lass
Chartered Surveyor is an umbrella term for a member of RICS.
Quantity Surveying is a subset. Same as Building Surveyor, Land Surveyor etc.
Quantity Surveying deals with the financial and contractual elements in construction. From preparing feasibility studies, through estimates, tender documents, post contract cost management and if necessary claims.
I work mainly in heavy engineering - roads, railways, tunnels, bridges, that sort of thing.
Thanks for that, probably the paranoia playing up again! ;-D
Agirl I went to school with is training to be a Quaintity Surveyor. At the risk of sounding a bit dense, what is the difference between a Chartered Surveyor and a Chartered Quantity Surveyor?
Everyone slags off their job, it's like family. I can say what I wasnt about my brother, he's my brother. You even mention that his hair looks daft (it does) and i'll jump in to defend him. Usually!
Enjoy your weekend too!
Country Lass
That remark was really directed at Qualified Agent not yourself. Apologies that it was not clear in the way that I presented it.
You have been nothing but absolutely professional in everything you have written.
As for my own industry...I work to live not live to work. I doubt you could slag off my industry any more than I do.
Enjoy the rest of the weekend.
I'm curious as to how you feel I attacked you? No, honestly I am. As far as I was concerned it was the type of debate I've had with many of my friends (none of whom work in property btw)
My first post in response to your comment was to point out that in that respect, your father's comment was wrong. I probably would have said something similar if you had said that hairdressing is for girls who can't pass exams. In all honesty, if you read a post like that about your own industry, with no other explanation or comments, can you honestly say you would have thought differently? Ok, so you may not have responded but that is all part of what makes humanity great, different reactions.
As to my second post, you did touch a nerve there I will admit. I can also admit that I actually AGREE with having some sort of licencing for Agents. It would get rid of some of the stigma we face, by getting rid of the bad apples and giving us a more professional platform as you put it. I just don't think it will happen anytime soon, unfortunately.
As I put at the end, it was a bit of a rant, not neccesarily directed at you, just in general. Once I started, it just kind of snowballed.
In my opinionIn, after reading some of the posts on this site, all should bear in mind that this is not a closed site and can be read by the PUBLIC who are our clients etc.. Therefore some would do well to modify their language and tone without losing what they wish to convey.
Country Lass (& Qualified Agent)
In my first post I repeated something that someone had once said to me. I did not include any personal opinion as to whether I believed this to be true or false.
However, your own paranoia about the woeful reputation of the industry that you work in led you to assume my initial post was ME attacking YOU. Consequently, YOU actually attacked ME.
Seriously though, I do feel sorry for the ‘good guy (gal)’ agents. But the problem with the industry is simply that it does not have any ‘professional’ foundation. It is about selling. It is about making money. In truth, at the moment the core service is little different to second hand car sales. This is true of the agents and it is true of the regulatory boards and associations. I bet a good proportion of the ‘bad’ agents that you are aware of in your local area are members of the same regulatory bodies and associations as you are. But why? If the regulatory bodies and associations were there to ensure a certain standard and professionalism then the ‘bad’ agents would be reprimanded and either raise their game or leave the body. But because the regulatory bodies and associations are only interested in making money they will continue to take their cut no questions asked.
Until the industry bodies sufficiently self regulate and care more about professionalism than money these ‘bad’ agents will continue to drag you all down and tar you all with the same brush.
And remember, a buyer or seller can deal with 10 ‘good’ agents and one ‘bad’ agent and it will be the experience with the bad agent that principally shapes their view of estate agents.
And to bring the whole thing back to 'salaries'; if you and your associations can transform yourself into 'Professionals' rather than just salesmen you can charge higher fees, have higher basic salaries and not rely so much on commission. There is no reason then that the RICS salary survey could not be reflective of estate agents salaries.
@ average joe
Ok, so you know the rep we Agents have to put up with, and you are aware of the property market as well. You say that you did say you agreed with your dad, but that was nowhere in your original post. Can you see why Qualified Agent and myself automatically assumed you did? Otherwise why mention it?
We have aduty of care to our vendors to get them the best possible price in a reasonable timescale to suit them. That means if a vendor wants to sit on the market for a year to get a few thousand more then that is their decision.
Unfortunately decent agents like myself (I hope) still have to work with the kind of 'wide-boy' back alley dealers who created the reputation I am forced to live with. They will put property on the market at a stupidly high price (playing on the greed of the vendor) time them into a long contract period (playing on the naivete of the vendor) and then spend the next 6/9 months forcing them to reduce their price to sell in the timescales they are stuck with (playing on the desperation of the vendor)
So when an Agent like myself comes along, with a reasonable marketing appraisal (NOT valuation) that will allow them to clear their mortgage and have the deposit for their next place, and a good chance of doing so in their timescale, not mine, I am thrown over for the agent pandering to their greed.
At the risk of sounding like a young upstart, it is partly the older Agents (not all of them) that are causing the problems in this industry. The market has changed, more information is available and both buyers and sellers are more clued up. Usually. Deal with it or drown.
Phew. Rant over. ;-)
Chartered Quantity Surveyor.
In my job if I get valuations wrong I could be on the wrong end of a Professional Indemnity claim for negligence.
Do estate agents valuations carry the same duty of care I wonder? Of course not, because you are salesman putting up an offer to sell and that is all. And a good salesman always starts at the highest price they think they can get away with.
And to be fair, I never said I agreed with my Dad. He could be a right twat at times but that is for another forum.
I honestly feel sympathy for agents because the absolute truth is you do have a very very bad reputation with the public. Probably more people feel like Chuckles and my Dad than not.
Country Lass - Lets be fair he called himself "Average Joe" was that your choice to be "average" Joe or did your Dad tell you thats all life has to offer!
I would love to challange ANYONE who questions the skill of a good Negotiator and Estate Agent to work in the indursty for 12 months and put their "i could do better" mentality to the test, they would last a week if that!
Love us or hate us, you will all use us one day and hopefully the likes of "chuckle & Ave Joe" might have the balls to let the agent who you approach know that you dont really like them!
Would Average Joe and Chuckle care to share what they do for a living?
@ average joe - I have GCSE's, AS Levels and A Levels, plus three industry qualifications (not counting the Rightmove online training)
And I don't always wear a suit to work.
Whilst that may have been true in the past, Estate Agentcy is changing, and attitudes like that are part of the problem.
Used to work for Sequence they were the worst when it came to pay reviews, thank goodness i am now with a good independent who both pays ok and treats their staff well.
When I was growing up and I would walk through the high street with my Dad, whenever we walked past an estate agent he would always say "estate agents are people who failed their exams at school but still want to wear a suit to work so they can pretend they are professionals".
Never got the hang of Twitter I will admit. One of the surveyors keeps hounding me to try it, but I'll stick with Facebook!
I knew that's what it means in the message, got confused when it came up as your name. Guess that means I'm not worth the £50k after all! Sniff, sniff.
So does that mean that people would be suspicious if an 'ugly' person with an M3 kept parking on someone's drive?
Thems birds is tonly fing that Tweets in the country Lass!
@countrylass means this message is for you.
Mr Chuckle has niiped off early to see what Bryan Beemer is measuring up or what he might be viewing!
C'mon Barry, don't you know it's rude to keep a lady waiting? Surely you can't be embarrassed to tell me what you do for a living, I'm an Estate Agent remember?!
@ @country lass, nice name! They do say imitation is the greatest form of flattery, so thanks!
Isn’t it funny how a good looking bloke can park his M3 on another chap’s drive a couple of times week and not twitch a curtain so long as there is a for sale sign up outside?
Mr Chuckle must be an ex-agent trying hard to get back in the business but his CV just doesnt stand up to the mark......makes you chuckle the thought of his anger!
To You.................Mr Chuckle!
You will find you are the first female that has been nice to him.
There is a lot of envy in his posts so my guess he is a HIP victim or a stuck at home FTB.
Which points would you like to engage with Mr Chuckle?
Helping other people for no financial gain is considered perverted?
Please describe not-perverted things to do.
Well Barry, thank you for your opinion. Unfortunately it is not shared by my employer I must admit, and I will admit to being slighly unsure of why you seem to believe I am worth that amount. Could it possibly be due to the fact I have tried my utmost to respond politely to every bit of abuse you have thrown at me, my colleagues and my profession in general?
I am still curious as to what industry is blessed by your presence though.....
@George Daws
I don't really care what perverted things EA's get up to in their free time. I'm simply agreeing with the article, that EA's are the losers in the salary stakes and offering some reasons why.
I find it telling that you lot are so touchy (truth hurts?) and descend into abuse rather than engaging with the argument.
However, I think that Country Lass is worth at least £50k basic. The exception that proves the rule.
If you would like to see more of the 'hilarious' BarryChuckle's blinkered view of our industry, look at the news story regarding council-run agents.
Although I hate myself for being fair to the obnoxious twerp, the comments on there also explain the 'to you..' comment
See Barry? That is how ADULTS communicate
Mr Chuckle
Your detailed analysis of Estate Agency is exactly the reason why you ought to have respect of Estate Agents. Name another profession which has to put up with the naïve stereotyping displayed in your post!
I switched to Estate Agency from Engineering 25 years ago, not because I wasn’t a good engineer (3 worldwide patents by 22 meant I was good at what I did) but because Estate Agency is a cross discipline profession where clients benefited directly from my efforts.
To hear the words “Thank you” at the end of a transaction is worth more than commission. I know that at some point in your life you might end up thanking an Estate Agent and it gives me great satisfaction to think that at that point you will be embarrassed by your post.
It might not be a property transaction but there will come a day when you or someone you know are grateful for the advice or help from an Estate Agent, it might be an agent out and about their business, stops to help you change a wheel, gives you a lift to the petrol station when you have run out of fuel, rings the police when they spot someone acting strangely outside your house or stops in the rain to give 15 minutes mouth to mouth resuscitation to a crash victim.
Next time you are in need of any help from St John Ambulance, a retained fireman etc. make sure you establish they are not Estate Agents before accepting their help. Me and my fellow agents will gladly FLICK OFF and leave you to it.
To you……
Sorry Ray. I shall rise above it.
Come on Wardy - I take note of most of your posts and know you are better than engaging in 'ping-pong' with an idiot!
I earned over £200,000 last year from selling houses :-)
Barry, always a pleasure.
I notice you did the 'to you...' gag again. Brilliant!
@wardy
Thanks for your in-depth analysis. Kind of proves my point and that of the article.
To you....?
Nice one Barry, I can tell that by your poor grasp of the industry that you wouldn’t last 5 minutes in most offices anyway.
I wonder which highly skilled job you do?
Maybe you’re a comedian? The 'to you....' comment at the end of your post, I’m sure has people in absolute stitches. I myself have cracked two ribs so far.
When I have an opening for an office clown, you will be the first to know.
Of course EA's get paid less than fellow property "professionals". They are the least qualified and frankly a monkey in a (cheap) suit could do the job. Post ad on Rightmove, unlock the front door, obstruct the negotiation, job done. Surveyors, Architects, Engineers, Builders all worth more money in my opinion.
To you..........
RICS are chartered surveyors . How many of those work as sales negs in estate agency ? Not many I think. Average salary in the north is lower than quoted I am sure
Bearing in mind the figures quoted in this survey are taken from a poll of over 8,000 RICS members, I would question how relevant these figures are to the majority of residential estate agents.
Well i work in North London and my basic is only £12500 so not sure where these figures come from?
And as for bonuses???
Try working in the north of England - those figures have been pure fantasy for four years at least
Low volumes, and low average values, mean low fees and commissions
Am moving south