x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Shock figures - UK agents earn less than most of Europe, US and Far East

A new league table of earnings by estate agents, based on basic salary and commission combined, suggests that UK agents earn far below those in much of Western Europe, North America and the Far East.

The Nested agency has compared UK agent earnings with 29 other global locations.

The data shows that the best place to be an estate agent is Australia, home to not only the highest basic salary at a huge £48,670 but also the largest level of additional earnings at £7,271. This makes a combined income of £55,942 per year. 

Advertisement

When it comes to their basic salary, UK estate agents earn an average of just £24,817 per year. 

This places them 16th in the list, far behind Australia but also behind the US, Netherlands, Canada, Germany, Hong Kong, New Zealand, Israel, the UAE, Japan, France, Singapore, Italy, Spain and Saudi Arabia. 

When looking at the level of both basic and additional income combined, UK agents are well down the rankings. 

The combined average earnings of £30,569 per year places them mid-table, again behind the likes of Australia, the US, New Zealand, UAE and France. 

Nested’s head of commercial - Alice Bullard - says: “The UK is far from a global leader when it comes to estate agent earnings. 

“The potential is there: it’s quite telling that the level of additional earnings found in the UK ranks within the top 10 in the world, but the basic salary provided sits far lower in the rankings.” 

Nested has been heavily promoting its new business model in recent weeks. It formerly offered a 'guaranteed buy' of a vendor's property if it did not sell within a set period for a minimum price, but now the agency has changed direction and is promoting what chief executive Matt Robinson calls "our Modern Estate Agent offering”. 

This involves a mix of traditional agents ‘in the field’ and the intensive use of technology; it has been tested in areas of London and is now going to roll out nationwide. 

It plans to launch in 100 locations in the next 12 months and on its website it says it is not only a first class estate agency but also operates as a buying agency and chain specialist.

Table shows the average base salary of an estate agent, the average additional income earned and the combined income of both

Nation

Average annual estate agent base salary (£)

Average annual additional income (£)

Combined average annual income (£)

Australia

£48,670

£7,271

£55,942

United States

£46,580

£6,959

£53,539

Netherlands

£46,247

£6,910

£53,157

Canada

£44,942

£6,714

£51,656

Germany

£41,751

£6,238

£47,988

Hong Kong SAR

£40,701

£6,081

£46,781

New Zealand

£40,020

£5,979

£46,000

Israel

£38,995

£5,826

£44,821

United Arab Emirates

£38,553

£5,760

£44,313

Japan

£37,877

£5,659

£43,536

France

£36,992

£5,527

£42,519

Singapore

£36,818

£5,501

£42,319

Italy

£32,228

£4,815

£37,043

Spain

£27,961

£4,177

£32,138

United Kingdom

£24,817

£5,752

£30,569

Saudi Arabia

£25,074

£3,746

£28,821

South Korea

£23,368

£3,491

£26,860

Chile

£16,933

£2,530

£19,463

China

£16,613

£2,482

£19,095

South Africa

£13,790

£2,060

£15,850

Indonesia

£13,626

£2,036

£15,661

Brazil

£11,613

£1,735

£13,348

Morocco

£9,915

£1,481

£11,396

Mexico

£9,423

£1,408

£10,831

Russia

£8,307

£1,241

£9,548

Columbia

£6,802

£1,016

£7,818

Egypt

£6,626

£990

£7,616

Turkey

£6,272

£937

£7,208

Argentina

£6,046

£903

£6,949

India

£5,214

£779

£5,993

Basic salary and additional earnings sourced from Salary Expert and Indeed

  • The  Duchess

    Sorry why are we shocked. In America and Australia they have to sit exams and are qualified - until we are fully regulated we cannot expect to earn top dollar.

    icon

    Qualifications have nothing to do with fee earnings in our industry.

    If that was the case there would be a demonstrable difference in fees charged between agencies with or without “qualifications”, which there isn’t… because market forces drive fee levels not meaningless qualifications.

    All qualifications will do is cost you money, as is demonstrated clearly by the current market.

    We don’t earn as much because we have no respect for the services we deliver and compete for market share with no regard for profitability. It is remarkable how many agents will sacrifice %age fee income for an instruction, indeed many are instructed by agency owners to get the instruction no matter the cost.

    Madness.

    We struggle and strive to provide more services for less money. Which means we dumb down the skills of our staff whilst we invest in prop tech to solve the issues created by an absence of experience.

     
  • Tom Tangney

    Does this table take in to account the cost of employing staff i.e. tax, NI, pensions, car, mobile phone to name but a few of the costs involved. Also there is a big disparity in some firms pay grade between senior management who do just that; manage and and count staff KPI's and don't actually do the job of being an estate agent

  • Richard Copus

    What a surprise. Charge the lowest commissions in the western world and you are bound to bring in less. Also studying for qualifications and passing the exams does result in a different attitude to business. For most people.

icon

Please login to comment

HBB Solutions HBB Solutions HBB Solutions
sign up