Lettings agents earning more than sales as industry pay scales are revealed

The majority of agents are earning between £30,000 and £40,000 per year when you include a basic salary and commissions and lettings is proving more lucrative than sales, research claims.

An agency salary survey conducted by property recruitment consultant Rayner Personnel among hundreds of agents has revealed the current earnings in the sector.

It found the vast majority are in full-time employment (98%) and earning a basic salary between £20,000 to £30,000 (35%).

In terms of the total wage, when taking additional earning opportunities such as commission into account, the majority of estate agents currently make £30,000 to £40,000 (22%) per year.

However, a significant 27% stated that they earn £30,000 or less, which means they are earning below the current average gross UK salary of £30,629.

In contrast, 11% stated they earn over £100,000.

The research found that letting agents earn the most, with 61% of those working in lettings stating that they earn £30,000 or more, compared with just 51% working in sales.

Additionally, 7% of those working in lettings stated they bring home £100,000 or more, with just 5% stating the same in the sales sector.

Earnings were evenly matched when working as an independent or for a corporate.

The research found 71% of independents stated that they make roughly the minimum wage of £30,000 or more, with 73% of corporates stating the same.

Looking at the earnings on offer by job role, the majority of lettings negotiators said they earn just £10,000 to £20,000 per year.

The majority of sales negotiators and valuers earn more at between £20,000 to £30,000, while the most common wage bracket for branch managers, lettings valuers and listers was £30,000 to £40,000.

Directors tend to earn the most, with 31% taking home £100,000 or more.

The figures also show that 29% benefit from a company car and 31% from a car allowance.

Despite the concerns around the wider economy, 34% of those asked expect to earn more next year, 42% think they will be on the same income, 17% expect a drop and 7% aren’t sure what to expect.

Josh Rayner, chief executive of Rayner Personnel, said: “Perhaps the most promising takeaway from this research is that the majority of agents think they will earn the same or more over the next year.

“As the boots on the ground, they are the first to see the market turn and this show of confidence echoes wider signs of a property market recovery that have materialised over the last few months.

“It’s interesting to see that lettings comes out on top in terms of higher earnings while there remains a level playing field in the battle between the independent and corporates.”

Salary Category
Branch Manager %
Valuer/Lister (Sales) %
Valuer/Lister (Lettings) %
Negotiator (Sales) %
Negotiator (Lettings) %
Director %
Below £10,000
3%
3%
5%
4%
8%
1%
£10,000 to £20,000
2%
8%
11%
17%
26%
1%
£20,000 to £30,000
13%
30%
13%
37%
13%
1%
£30,000 to £40,000
26%
28%
28%
13%
21%
6%
£40,000 to £50,000
17%
8%
19%
9%
11%
9%
£50,000 to £60,000
16%
11%
13%
9%
8%
14%
£60,000 to £80,000
13%
6%
3%
4%
3%
22%
£80,000 to £100,000
7%
3%
3%
2%
3%
13%
£100,000 to £150,000
1%
2%
3%
4%
3%
17%
Over £150,000
2%
2%
3%
2%
5%
14%

 

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3 Comments

  1. drasperger

    Struggling with the maths a bit….. if 7% working in Lettings and 5% in sales make 100k how does that become 11% overall….. sorry, got it….. 5% of those earning 100k don’t do anything at all…..Silly me!!

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  2. SLP

    As usual this will be totally skewed by region and north / south divide – please can we have some information that is actually useful rather than simply headline grabbing?

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  3. WhereIsTheMoniiMoney

    Would be good to see both regional and size of business split of data.

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