How much can you earn as a new estate agent?

Are you considering a career as an estate agent? If there is one question that everyone asks on the subject, it is the question of salary. Indeed, the property industry differs slightly from all the others, since agents are mainly paid on commission. It is possible to earn more or less money depending on the economic situation and the market.

However, it takes time to develop your network, your business and establish yourself as a recognised professional. Are you starting out or about to start and would like to learn more about the potential salary you could be expected to receive? We suggest you review everything, in order to determine how much you could potentially have on your pay slip at the end of the month.

When are you considered a beginner estate agent?

An estate agent is a person who has just started in the last few years as a self-employed agent or is employed in an agency.

With little experience, beginner estate agents are sometimes required to work alongside another more experienced agent or broker to learn the ropes and gain hands-on experience in the field.

In the rest of this article, we will present everything you need to know on the subject!

How much does someone new to estate agency earn

New estate agents employed in an agency can be paid in two ways: 

• With a basic salary: they receive a higher salary than the minimum wage, between £18,000 to £23,000 per year.
• With commission: beginner estate agents receive a fixed salary, equal to the minimum wage, which is then supplemented by commissions taken from the total amount of the sale.

rise in basic pay and commission is not automatic. However, with years of experience, a larger list of contacts and reputation only evolve, meaning the more experience you have the more money you will make

Find out how much more you could earn as a self-employed agent

How can a new estate agent increase their income? 

The goal of a new estate agent is to gain skills quickly with experience and the development of their clientele. The possibility of seeing the number of sales evolve is significant. This will, naturally, impact the question of salary.

Nationally, experienced estate agents can earn, on average, £41,275 and £45,000. It all depends on the quantity of properties sold and the commissions charged. Finally, if you want to move up, you can apply for positions with higher responsibilities, or even start your own agency, which will allow you to earn more.

Some experienced agents may also choose to specialise in a particular type of property, such as luxury property or commercial real estate, which can lead to higher commissions and income. This should not overshadow the fact that the market is highly competitive and income, as a beginner real estate agent or otherwise, can fluctuate from year to year.

Good to know: You can earn from mentoring with iad To the commissions received on your own sales, you could add a percentage of the income received on the sales of a team that you mentor! With the iad mentorship system, it is possible to build a sales team itself composed of independent sales agents that you will guide. To learn more about iad sponsorship

Find out more about the income of a self-employed estate agent

3 things to remeber

– New estate agents can paid on commission, just like experienced real estate agents. This commission can vary based on the value of the property.

– It is estimated that a new estate agent can earn between £25,000 and £30,000, after commission, per year.

– The possibilities for salary development are quite significant with experience if the agent has a well-stocked address book and applies professional methods.