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Estate agent: Salary and conditions

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  • Estate agent salaries are typically made up of a basic salary plus commission, which is usually based on a percentage of your sales. Salaries are often advertised as on-target earnings (OTE), which are an estimated total salary including the potential commission.
  • Starting salaries for estate agents are in the region of £12,000 to £20,000 OTE for trainee posts.
  • With experience, salaries can rise to £25,000 to £60,000 plus commission. The higher end of the scale may be reached in certain management positions. Some estate agent managers may earn more than this, particularly if they are in a high end London agency.
  • Salaries vary greatly depending on location, qualification, specialist area, size of firm and the economic climate in the property market and the building industry.
  • Commercial agency tends to pay higher salaries with less commission-based earnings.
  • You may be employed on a guaranteed initial commission with this being reviewed (and not guaranteed) after three to six months.
  • Frequently, a company car is provided or a car allowance is paid in addition to your salary.
  • Estate agents generally work a basic 35-40 hour week, although it can be longer than this.
  • Working hours typically include unsocial hours and almost all roles will involve some work on a Saturday. Evening work is a regular feature and some extra hours may be required, especially when completing deals for clients.
  • Work is office-based but also includes a significant amount of time spent visiting properties, either for valuations and marketing opportunities or for viewings with potential buyers.
  • Self-employment and freelance work is possible and experienced staff with a client base can establish their own business. Success depends on the economic state of the property market. Part-time work is common.
  • There are greater opportunities available in urban areas, such as large towns or cities, but work is also available in rural areas.
  • A smart appearance is necessary.
  • Travel within a working day is frequent and driving is usually a key feature of this job. You may require a clean driving licence.
  • Absence from home overnight and overseas work or travel is uncommon unless you are dealing with international property.

Salary figures are intended as a guide only.

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AGCAS
Written by AGCAS editors
Date: 
January 2014
 

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