Estate agency Preston Baker is looking to expand its business by persuading more agents to abandon traditional employed estate agency roles and join its self-employed associates.
The Yorkshire-based agency’s model aims to allow estate agents to start their own business with the backing of a well-known brand, potentially minimising the risks usually associated with branching out on their own.
The company says associates are fully supported with lead generation, have their marketing costs covered and are guaranteed an income for the first nine months of their journey.
“We live in a fast-changing world and as a business owner it’s crucial to adapt, pivot and make changes when needed,” said Ian Preston, Preston Baker’s co-founder and CEO.
“The world has changed drastically since we founded Preston Baker in 2008, and while our core aim is always to deliver service of the highest standard for all our customers, the way we run our business and recruit our team is ever-evolving and we pride ourselves on leading the way in estate agency,” he continued.
Preston argues that the post-pandemic shift in what people are looking for from their work is having a significant impact on the way businesses operate.
He believes new priorities include flexibility, work-life balance and financial freedom, leading Preston Baker to introduce a new self-employed associate model in order to combat some of the most common frustrations with employment.
Preston continued: “We want to give driven, passionate individuals a platform for success with all the support of our award-winning estate agency behind them,” Ian said.
“Home movers really value having a personal associate who is their sole point of contact and who works hard to get the best outcome, as well as help with their onward move if necessary, and we offer that; it’s all about creating the very best experience for everyone.”
He went: “Over the last few years, people have re-evaluated their lives and are less willing to compromise on the things that matter most to them.
“Having the ability to take control of your own earnings and work at the time that makes the most sense for you used to be the dream, but now it can very much be a reality. Many people have wanted to take the leap and go out on their own for years but have been held back by numerous worries.
“Being a Preston Baker Associate means you can transition into self-employment without the fear of losing income or having the capital to start your own business, meaning you can focus on maximising the opportunity and generating results, rather than worrying about money.”
Preston says that a growing number of self-employed associates, and our most successful associates are earning upwards of £150,000 per year.
He added: “There is hard work involved, of course, but the self-employed model gives freedom and we trust our associates to take full advantage of this fantastic opportunity.
“Many people believe that working in an employed role equals more security, but this is not necessarily true. If the business circumstances change, your job can be at risk no matter how well you perform.
“We have put a lot of thought into how we can make our recruitment model the best it can be, that’s why when you take on a self-employed role with Preston Baker you are in control of your own career, with the full support of our in-house team.
“You get out what you put in. As long as you are ambitious and hard-working, you’ll be able to reap the benefits of secure self-employment.
“We’ve listened to people on the things they struggle with most and created a model that tackles these issues – and we think it’s the way to success and the future of estate agency!”
Really ? “ our most successful associates are earning upwards of £150,000 per year.” Somehow don’t think so, and if so where’s the evidence ? PB are showing losses for their last financial year and a deficit on their balance sheet ! Haven’t even managed to repay their CBIL loan yet !
Come on Eye this is blatant advertising, time to check these claims.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
self employed or a commission only job and “our most successful associates are earning upwards of £150,000 per year” BS
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I wish Preston Baker every success with this expansion. This model is definitely the future of the estate agency industry in the UK.
It is a better business model for the company, better for the agent (self-employed associate), and most importantly better for the seller client.
I fully understand it is difficult for some estate agency business owners (or employees) to believe the income claims. Although I can’t speak for Preston Baker, I can confirm many of our self-employed agents earn in excess of 6 figures.
Incomes will vary depending on the average fee charged and the split with the company.
Just based on an average of £4,000
70% to the agent = £2,800 x 1 completion per week (50 per year) = £140,000
Some of our agents have an average for of £10k (eg 2% of a £500k property)
So I have no doubt top performers at Preston Baker earn £150k
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Interesting. From a PB perspective:
1. Doubt very much that their av fee will be anywhere near £4000.
2. Completing 4 sales/month will require far more gross sales.
3. They will need even more instructions, particularly in a more difficult market to convert to sales.
4. They will have significant overheads to meet in order to achieve anything like these projections.
Can accept that this model could work for some but to suggest that these levels of earnings are readily achievable is totally misleading.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
No one said these earnings are readily achievable – I am sure the article said “Top Performers or Most Succesful” – so clearly some earn less. As a self-employed agent, there are no KPI’s or targets, except those you set yourself. Some agents are not looking for high earnings, they want flexible hours to suit their lifestyle. Or maybe they do not want to be stuck in an office and be micromanaged. Maybe they want to spend more time with their kids, family, and friends, or go to the gym or walk the dog when they want.
Some agents will work harder, charge higher fees, and sell more properties – they will earn significantly more, and quite rightly so. The point is, it is definitely possible to earn £150k – But not everyone will
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register