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.
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