Research by Nested, the modern estate agent, has taken a look at how UK estate agents stack up against 29 other global locations when it comes to the average earnings on offer.
Nested analysed both the average annual basic salary and the additional commission earned for estate agents in 30 worldwide nations. Looking at the standings, it could be worse for UK estate agents, but it could certainly be a lot better as well.
The data shows that the best place to be an estate agent is Australia, home to not only the highest basic salary at a huge £48,670 but also the largest level of additional earnings at £7,271. A combined income of £55,942 per year.
Basic Income
When it comes to their basic salary, UK estate agents earn an average of just £24,817 per year. This places them 16th in the list, far behind Australia but also behind the U.S, Netherlands, Canada, Germany, Hong Kong, New Zealand, Israel, the UAE, Japan, France, Singapore, Italy, Spain and Saudi Arabia.
Additional Income
However, when it comes to additional purchasing potential, UK agents do, at least, climb into the top third of the table. The average annual commission of £5,752 is enough to put them 10th in the global table.
Combined Income
Unfortunately, when looking at the level of both basic and additional income combined, UK agents once again fall down the rankings. The combined average earnings of £30,569 per year places them mid-table (15th), again behind the likes of Australia, the US, New Zealand, UAE and France, to name but a few.
Head of Commercial at Nested, Alice Bullard, commented: “Despite being home to one of the most robust and world-renowned property markets in the world, the UK is far from a global leader when it comes to estate agent earnings.
“The potential is certainly there. In fact, it’s quite telling that the level of additional earnings found in the UK ranks within the top 10 in the world, but the basic salary provided sits far lower in the rankings.
“Hardly surprising then, that more and more agents are making the jump to the self-employed model and the US market is proof of how lucrative the self-employed approach can be as each agent works independently as their own brand.
“That said, when it comes to the style of self-employed estate agency, the UK actually draws many parallels with the Australian system. So as more UK agents take the self-employed plunge, we could start to see the nation climb the ranks of global estate agency earnings.”
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