Salaries go up at Badger as commissions fall

With the blizzard of bad news for all in property, one agent has managed to deliver a note of positivity to staff: basic salaries and expenses are going up.

Badger Holdings, parent company of Townends and Regents estate agents in and around London, is raising basic pay ‘significantly’ to make up for the loss of commission, and is also enhancing its payments for fuel.

At the Badger Holdings managers’ conference, managing director Séamus Kavanagh announced that despite challenging trading conditions, the group had still delivered a profit in the first six months of 2008.

Kavanagh said: "We recognise that our staff are our biggest asset and, with the industry seeing testing times, it has undoubtedly impacted on them financially."

Further incentives have also been introduced in which staff can support their income streams by working with other areas of the business such as financial services and new homes.

Kavanagh also revealed that the group will continue with its plans to open new branches and upgrade its IT systems with the biggest expansion plans to be within the lettings division, including the recruitment of additional lettings managers and up to four area lettings managers.