How much does an estate agent earn?
There is no question that being an estate agent has been a very lucrative career for a large number of people in the UK, but there are also some estate agents who don’t make that much money. The truth is that you need to learn to work hard but also work smart if you want to be successful in this sector as with any other line of business. In this article, we are going to be talking about the many factors involved in how much money can be made in this profession.
The numbers come with the experience.
One of the first things that you need to keep in mind is that estate agents are only as effective as their networking skills and their years of experience. It is wise to assume that agents just starting out could never expect to be making as much money as an agent that has been around for decades. This is one of the most important reasons why you need to measure the average salary of an estate agent based on experience.
An entry level estate agent can make around £18,500 on average per year and this is a very decent salary for anyone to make if they are starting out. Some will make around £10,000 on their first few years and they will start to see a higher income when they start growing their network.
An agent with plenty of experience under their belt is going to be able to earn around £35,000 a year with commissions and some of them can earn much more than that as long as they learn how to close larger deals.
Independent agent or employed agent
There are some independent agents that are making a fortune, but they have spent a long time building a large network of connections and this makes it easier for them to get properties that have substantial commissions and are also easily sold.
A great agent is someone who has people skills and gets to know their way around the areas where they plan to sell homes. This is not an easy thing to achieve, but once the network expands, the average estate agent earnings can easily reach £40k and more per year.
Senior manager and negotiator
The top of the estate agent game can be found when someone reaches the status of being a Senior Lettings Manager or a Senior Sales Negotiator. These agents can even earn as much as £90k per year and the average earnings at that point range from £50k to £70k per year.
Becoming a successful estate agent requires the same level of work that you would expect from any other profession that has the potential to be very lucrative. You need to consider this factor as the most important and if you stick to it, you will see excellent results after years of experience and a growing and expanding network.