Estate agents could boost their salary by up to 50% by finding a new job, new research suggests.
A report from recruitment firm The Ambitious Group has shone a spotlight on pay in the property sector, showing that the majority of professionals feel underpaid.
Its 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
Only 43% of property sector respondents said they felt valued in the workplace, with just 22% saying that they felt ‘highly valued’.
Almost all of the respondents who felt highly valued were in more senior positions within the industry.
There was also a difference in attitudes towards benefits and the perks on offer.
The most common benefits on offer were death in service, rising holidays and a car allowance.
However, the benefits that staff most desired and valued were rising holidays, flexible working and private healthcare.
The report also reveals typical pay scales across the sector including for estate agents and how much more professionals can get paid when finding a new job.
It shows branch manage pay ranges from £25,000 to £38,000 and has gone up 14% when moving jobs between January 2022 and May 2023
Key account managers in estate agency are typically paid between £30,000 and £46,856 and have seen their salary increase by 32% when moving jobs.
Sales managers and negotiators have also seen their salary increase by around a quarter when finding a new role.
Sales executives – with pay ranging from £22,507 - £35,000- have seen the largest salary increase at 50%, the report shows.
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.”
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These salaries are rubbish
25 years ago I was earning 50k as a lister
The report doesn't state whether this is basic salary or gross pay. Do these pay figures include commission and bonuses and do the take into account company car, healthcare, pension, holiday allocation and other benefits? Its difficult to compare like for like when the article doesn't state what type of job estate agents could move to. A good , hardworking, focussed agent can earn a lot of commission. How about a report on basic salary versus average commissions, that would be a lot more interesting. The way that agents pay is structured is so varied it is very difficult to make straightforward comparisons like this.
What a load of trollop.. 😆
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