Estate agents taking home more than twice that of Conveyancers
The average estate agent is taking home twice as much as the average conveyancer, according to Property Week.
The magazine reports the average residential agent working in both sales and lettings can expect average pay of £49,023 plus a bonus of £35,868.
The average licensed conveyancer can expect to start on £16,000 to £20,000 rising to between £25,000 and £50,000 according to careers service Prospects.ac.uk. This is backed up by the average advertised pay of the last 54 posts on a leading recruitment website averaging out at around £34,000 at the time of writing, meaning the average estate agent’s pay and bonuses well outstripping double that of the average licensed conveyancer or property lawyer depending on advert.
However, leading recruiters in the estate agent field said that the pay figures for residential agents could not be UK averages and would apply only in central London.
Joshua Rayner, of Rayner Personnel, said: “These figures may be the case in central London, but not nationally.
“Typically, the rule of thumb is that an agent earns 50% as basic and 50% commission – for example, £15,000 basic and therefore £30,000 overall.
“These figures will be dramatically higher in central London, but not elsewhere.”
Of the overall 7,466 property professionals who responded to the Property Week survey between December and January, 64% said they were earning more than last year. According to the survey, Surveyors and valuers earn £46,116 plus £8,825.