A root and branch poll of individual earnings in the estate agency industry has not been conducted in a while but property industry recruiter, Rayner Personnel, is doing so now in order to provide an authoritative assessment of pay across the sector.
The survey, which is completely anonymous, seeks to establish what the average estate agency package really looks like.
What is the typical basic salary?
What are the on-target earnings that are actually achieved?
How often is a car benefit included and does that simply reduce salary accordingly?
Rayner’s poll is made up of just eight questions and takes less than five minutes to complete and will also establish differences between independent agencies and corporates and, of course, the difference in what a negotiator takes home, versus a valuer, versus a branch manager, and by region of the UK.
Rayber says that when published, the anonymised data will answer such questions as:
Are your earnings in step with the average for your role?
What do your ambitions to climb the ladder really mean in additional pay?
Does your regional director earn what you think they do?
Which represents better pay, an independent or a corporate?
And, do the industry’s players expect to earn more or less or the same in 2021? A crucial question currently.
“The more people that participate, the more compelling and accurate the results will be.” says Josh Rayner, founder and CEO of Rayner Personnel.
“This will then provide an accurate benchmark for companies and individuals alike so that both parties will truly know what ‘good’ looks like when jobs are advertised, packages negotiated so that new working relationships start and continue on the right footing.”
The survey is live until the week commencing 13th July and the results will be published immediately thereafter.
There’s no need to register or to provide any contact information and you can take part via the link below.
Comments (9)
There’s only one reason why Rayner is doing this and it doesn’t take Einstein to work it out. Don’t be too surprised if it suddenly appears that being Self Employed pays more – may just support the close relationship that Rayner and KW have recently developed!!!
One thing is certain and that is that EA basic salaries have declined in real terms over the last twenty years……
The race to the bottom has decreased pay for many and lessened the service that the public receives.
My basic today isn’t as high as my basic in ’87 although to be fair I have moved. 80’s was London today is 130 miles away and the local economy isn’t the same. Still it would be nice to have a decent basic wage. Also it’s worth noting in the 80’s there were only 5 agents in my patch and today there are over 20 chasing the same business, commission was 2.5% average and today if you get 1& 1/2 you’re doing well.
I’ve encouraged my children to get jobs as far from this business as possible, which is a shame as I really enjoy it.
Before rushing to complete this survey I’d urge people to consider what it will be used for… I’ve sat in board rooms where this type of data is used to justify commission reductions, pay freezes or cuts etc etc. In a post Covid world where most agencies are looking to reduce costs I’d suggest the results of this survey are more valuable to recruitment agencies and estate agency bosses than their employees. Proceed with caution…
Very perceptive. I like the cut of your jib!
Could not agree more. I won’t be contributing data
I have always wondered this to be fair…
You always know how you’re doing against your competition in terms of volume but it’d be interesting to see how those Rightmove charts would translate into fees for each company and who ranked where.
I run a midlands based agency and we made £190k profit / £800k turnover last year from one branch which was one of our best years. Would be interesting to see what the average branch makes… whilst I believe that the only person you should be competing against mentally is yesterday’s version of yourself… well, we’re all only human and who wouldn’t like to know what their competitors make? 🙂
Under 24% margin….ouch! 🙁
Yup, we invested a lot in marketing and some new hires which seems to be paying off this year despite the pandemic! I mean there’s a couple of company cars in there which would take us above 20% which I always considered to be pretty decent. Oh well, hopefully this year will be better! 😀