UK estate agents see bumper pay rises as property booms-NewsCO.com.au

February 17, 2017

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London estate agents earn £61,000 a year on average

Britain’s estate agents, so often maligned by the house-buying public, are enjoying another year of bumper pay rises, research suggests.

On average, they have received increases of 7.2% over the past year, according to the Royal Institution of Chartered Surveyors (Rics).

That figure exactly matches the rise in house price in 2016, as measured by the Office for National Statistics (ONS).

In the previous year estate agents received average rises of 6.5%.

Earlier this week, ONS figures showed that on average UK wages in the three months to December grew by 2.6%, when compared with the previous year.

Most agents charge sellers a percentage of the sale price, so fees tend to rise in line with house prices.

The survey, conducted by Rics and the recruitment firm Macdonald and Company, showed that the average salary of an estate agent is £52,362.

In London the average salary is £61,141.

The survey of over 8,000 professionals also revealed a large gender pay gap among estate agents.

On average, male agents earn more than £11,000 a year more than females, a fact that Rics described as “disheartening”.

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