Despite booming property prices across the UK, the wages of those working in the estate agent industry might not be as high as you would expect, a new study shows.
According to the estate agency salary survey by Expert Agent, the majority of workers in the estate agency industry are earning salaries that are in line with the national average.
While a very small number of people earn some very large salaries, a lot are around the minimum wage level.
The survey, which questioned 700 negotiators, administrators, managers and bosses from all over the country, found the average salary is between £26-30,000. However, this figure is skewed by the 8% of workers that earn over £70,000.
By removing these top-end workers brings the average wage down to £21-£25,000, below the average UK salary of £26,500.
The survey revealed that highest average salaries are in the South. The South East and South Central regions had higher average salaries than Central London and Greater London, while salaries were lowest in the North East.
The study found that for sales negotiators a surprising 25% earned less that £12,000. Nearly a third (31%) earned between £15 and £21,000, while 11% earned more than £25,000.
Nearly all senior sales negotiators earned less than £50,000. Over 50% earned over £21,000, while 23% earned £18-£20,000. Two respondents claimed to earn over £71,000.
Nearly a quarter (23%) of lettings negotiators earned less than £12,000. Over a third (37%) earned between £15,000-£21,000, while 8% earned more than £25,000.
Half of all senior lettings negotiators earned between £18,000-£25,000, while 17% picked up £17,000. One in seven (14%) earned £31-£40,000.
For sales managers there was variance in the salaries, with 14% earning under £20,000, 23% earning £31-£40,000 and 20% earning £40-60,000.
Over a third (37%) of business owners, directors or partners earned over £60,000. Nearly half (42%) earned more than 50% of their earnings as profit share or commission, while a surprising 22% earned 10% or less in commission or profit share.
Almost all administrators are paid a flat salary, with 40% earning £15-17,000 and only 10% earning more than £21,000.
