How much does an estate agent earn in the UK? Salary explained
ESTATE agency is a great career for someone who doesn't want to go into further education but wants to earn a good lump sum.
Showing people potential homes and securing a sale is at the heart of being an estate agent. But how much do they earn? We explain.
How much does an estate agent earn in the UK?
Estate agents earn good money from the commission of their sales but they'll also have a fixed income alongside this.
This fixed income will benefit them as they start their career.
At entry level, estate agents will have a base salary between £20,000 to £30,000 during the first three months of their career.
After an estate agent makes the first sale, they'll start earning good amounts of commission which means their fixed income will decrease to between £16,000 and £20,000.
However, estate agents who are successful sellers can see an income of £25,000 and £35,000 during their first year.
Commission plays a huge part in an estate agent's earnings.
Different companies will have different commission schemes.
However, generally, the commission an estate agent earns is based off on a percentage of the price of the property you sell.
The percentage of the sale your office makes is taken into account as well.
So if for example, a property was sold for £500,000 and the office collects 1% of the sale, then the company earned £5,000.
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If you earn 10% in commission, then you will earn £500.
Every company works differently and has various rates.
The average salary for an estate agent in the UK is £41,392 a year.
However, experienced estate agents could be earning between £50,000 to £100,000 a year.
What does an estate agent do?
An estate agent isn't just someone who sells your home or helps you buy a new one.
They can help you to:
- Determine the market value for a property you want to sell
- Advertise and market the property you are selling
- Arrange viewings with potential buyers for your property
- Manage negotiations regarding the sale of the property
- Ensure that the buyer is serious and they can pay the amount due
- Issue paperwork to seal the deal on the property.
How do I become an estate agent?
According to , over 1,600 people every month search for 'how to become an estate agent' in the UK.
There are different ways to become an estate agent and you don't always need a degree for it.
However, if you have a degree in one of these subjects then it will help boost your CV and will help you have a better understanding of the field:
- A degree in business studies
- A degree in civil and structural engineering
- A degree in estate management
- A degree in property development or management
- A degree in surveying
- A degree in urban and land studies
However, you can also work your way up to become an estate agent through an apprenticeship.
Estate agent companies may offer apprenticeships for junior estate agents.
The entry requirements are usually GCSEs, particularly in English and Maths.
Some companies may offer jobs such as trainee sales negotiations.
Or you can start working as a secretary or an administrator and work your way up to a top-notch estate agent.
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There are also courses available to those who would like to enter the industry.
We recommend you check out some of the courses available with .