Sign in to follow this  
Followers 0
Wayward

UK estate agents see bumper pay rises as property booms

25 posts in this topic

Something to cheer us up for the weekend...(or not)

UK estate agents see bumper pay rises as property booms

http://www.bbc.co.uk/news/business-39002428

 

What can I say...?  Symbolic of the UK's priorities and value system...just rewards for those performing the most valuable services in society.  it stinks

Share this post


Link to post
Share on other sites

Sounds positive to me - they know the gig is up so like all good capitalists, they are stripping everything of value and making for the exit (pursued by a bear..)

Share this post


Link to post
Share on other sites

The fac tthat they used 'salary' is very misleading too.

Most EAs are on a very low basic - barely 10k of the ones I know.

Each agent gets a cut of each house sold. Most will struggle to complete one sale a week.

Share this post


Link to post
Share on other sites

Very much depends where you are.

Prime London is dead transaction wise,parts of the North and Midlands are enjoying above average transaction levels,(above average for the last ten years,but still way below pre 2007/8 levels.)

Share this post


Link to post
Share on other sites

I still say the only way the EA's in my area are managing to stay in business is down to their income from lettings... yes asking prices might be 2006+, but stock levels and sales volumes are at all time low levels, they can't possibly be getting any meaningful income from sales commission. 

Share this post


Link to post
Share on other sites
7 minutes ago, nome said:

I still say the only way the EA's in my area are managing to stay in business is down to their income from lettings... yes asking prices might be 2006+, but stock levels and sales volumes are at all time low levels, they can't possibly be getting any meaningful income from sales commission. 

HMRC aren't reporting property transactions at an all time low. Though of course they may not all be sales via estate agents. Section 5 has non seasonally adjusted per financial year at 1.7m in 2006/07, down to 792k in 2008/9 and increasing in each of the last 6 years to 1.3m in 2015/16

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/584668/UK_Tables_Jan__cir_.pdf

Share this post


Link to post
Share on other sites

Wonder if they include this victim when they compute the average?

https://www.gumtree.com/p/lettings-negotiator-jobs/junior-letting-negatiation-/1216350075
"A voluntary work placement where you can earn commission and gain first hand experience of working in an Estate Agency "

This one has the cheek to classify themselves as voluntary-charity-admin-secretarial-jobs
https://www.gumtree.com/p/voluntary-charity-admin-secretarial-jobs/trainee-lettings-negotiator-estate-required-immediate-start-/1216006844
"The position is offered on a commission basis for the first 1 - 2 months and an attractive basic salary will be introduced once you have reached target either in month 1 or 2. "

I'm guessing this must involve an apprenticeship scheme. It's not NMW. Is it legal to employ emperienced as appretices OR pay commission?
https://www.gumtree.com/p/lettings-negotiator-jobs/trainee-admin-lettings-negotiator-fulham-based-sw6/1215589695
"Remuneration:
£100 per week Mon-Fri plus 10% commission for Trainees and 25% for experienced"

Share this post


Link to post
Share on other sites
55 minutes ago, Democorruptcy said:

HMRC aren't reporting property transactions at an all time low. Though of course they may not all be sales via estate agents. Section 5 has non seasonally adjusted per financial year at 1.7m in 2006/07, down to 792k in 2008/9 and increasing in each of the last 6 years to 1.3m in 2015/16

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/584668/UK_Tables_Jan__cir_.pdf

I did say in my area ...  Jan 2015 420 properties for sale

                                     Feb 2017 214 properties for sale  (sk13)

 

 

Share this post


Link to post
Share on other sites
5 minutes ago, nome said:

I did say in my area ...  Jan 2015 420 properties for sale

                                     Feb 2017 214 properties for sale  (sk13)

 

 

OK.

Share this post


Link to post
Share on other sites

Reading between the lines in the article, it's not that every estate agent averages £52k, just the 8000 RICS members. These guys are the degree qualified chartered surveyors who are actually supposed to know technical matters, amongst other things. Hence why a chartered surveyor will always undertake structural surveys etc. Most estate agents will only have one (if they have any) chartered surveyor.

The bunch of brain deals flogging overpriced hovels might well be on near minimum wage (and hopefully are)

Share this post


Link to post
Share on other sites
16 minutes ago, johnycoldears said:

Reading between the lines in the article, it's not that every estate agent averages £52k, just the 8000 RICS members. These guys are the degree qualified chartered surveyors who are actually supposed to know technical matters, amongst other things. Hence why a chartered surveyor will always undertake structural surveys etc. Most estate agents will only have one (if they have any) chartered surveyor.

The bunch of brain deals flogging overpriced hovels might well be on near minimum wage (and hopefully are)

They still won't get anywhere near 52k

Share this post


Link to post
Share on other sites
6 hours ago, Wayward said:

Something to cheer us up for the weekend...(or not)

UK estate agents see bumper pay rises as property booms

http://www.bbc.co.uk/news/business-39002428

 

What can I say...?  Symbolic of the UK's priorities and value system...just rewards for those performing the most valuable services in society.  it stinks

Never heard of EA boasting about pay before, strange publicity stunt- Jeez, things must be really bad 

Share this post


Link to post
Share on other sites

I see the Beeb managed to shoehorn more gender equality ******** into the article.

Someone start an all female EA and retire early on the phat profits, innit.

Share this post


Link to post
Share on other sites

You know those ons figures of 2%+ pay rises... Its service sector spongers like this that's getting them.

 

Sick to the pit of my stomach.

Share this post


Link to post
Share on other sites
17 hours ago, johnycoldears said:

Reading between the lines in the article, it's not that every estate agent averages £52k, just the 8000 RICS members. These guys are the degree qualified chartered surveyors who are actually supposed to know technical matters, amongst other things. Hence why a chartered surveyor will always undertake structural surveys etc. Most estate agents will only have one (if they have any) chartered surveyor.

The bunch of brain deals flogging overpriced hovels might well be on near minimum wage (and hopefully are)

There are over a100,000 RICS members, the vast majority work in commercial property sector and are technical experts. EAs in resi sector only need to know how to tie a neck tie and lie with a smile.

Share this post


Link to post
Share on other sites
1 minute ago, Wayward said:

There are over a100,000 RICS members, the vast majority work in commercial property sector and are technical experts. EAs in resi sector only need to know how to tie a neck tie and lie with a smile.

Iv seen a few with clipon ties.

Share this post


Link to post
Share on other sites
5 minutes ago, spyguy said:

Iv seen a few with clipon ties.

Well they don't want to run the risk of being strangled with a proper one 

Share this post


Link to post
Share on other sites

With more companies like Purple Bricks entering the market commission free, even if these figures are true the industry is short lived to say the least..

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0

  • Recently Browsing   0 members

    No registered users viewing this page.