How do UK estate agent earnings compare in the global rankings?
Research by Nested, has taken a look at how UK estate agents stack up against 29 other global locations when it comes to the average earnings on offer.
Nested analysed both the average annual basic salary and the additional commission earned for estate agents in 30 worldwide nations.
Looking at the standings, it could be worse for UK estate agents, but it could certainly be a lot better as well.
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. A combined income of £55,942 per year.
Basic Income
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 U.S, Netherlands, Canada, Germany, Hong Kong, New Zealand, Israel, the UAE, Japan, France, Singapore, Italy, Spain and Suadi Arabia.
Additional Income
However, when it comes to additional purchasing potential, UK agents do, at least, climb into the top third of the table. The average annual commission of £5,752 is enough to put them 10th in the global table.
Combined Income
When looking at the level of both basic and additional income combined, UK agents once again fall down the rankings. The combined average earnings of £30,569 per year places them mid-table (15th), again behind the likes of Australia, the US, New Zealand, UAE and France, to name but a few.
Head of Commercial at Nested, Alice Bullard, commented:
“Despite being home to one of the most robust and world-renowned property markets in the world, the UK is far from a global leader when it comes to estate agent earnings.
“The potential is certainly there. In fact, 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.”
Basic salary and additional earnings sourced from Salary Expert and Indeed
you have to hold qualifications to be an agent in Australia, New Zealand and the US. I wonder if its the same for the other higher ranked countries.
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I’ve know agents in Vegas on $1m a year and 100k seems to be the basic package with commissions for the newly qualified, 5pm finishes, tea breaks and holidays over a week are rare !
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Erm… sorry to be a spoilsport an all that – but these figures are complete, utter bull***t.
I knew they looked wrong – too ‘perfect’ – so I’ve done the maths (perhaps something that Ms Bullard should have done before allowing her name to be associated with this MDT).
In EVERY one of the 29 other examples, the ‘additional income’ equates to 13% of the total.
How could that possibly happen? EXACTLY THE SAME earnings relationships in USA… South Korea… Israel – the list goes on. The person earning £5993 having EXACTLY the same income ratios as the jammy bu99er earning almost ten times that amount?
You couldn’t make it up. Oh, wait…
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The additional income does seem low. Anyway, well spotted, although I note UK comes in at 19%.
Me thinks someone needs Excel retraining
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EYE readers are being force-fed statistical f***wittery (credit: Jonnie) on an almost daily basis, Bosky, seemingly submitted by several independent sources such as Nested/Ms Bullard – however there is a commonality to all these puff pieces which I would suggest more than explains the use of, to be as kind as I can, ‘highly questionable’ statistics to gain a few column inches.
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“…although I note UK comes in at 19%.”
I did say ‘every one of the other 29 examples’ – the UK being the odd one out.
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