Over half of letting agents say they are uncertain as to whether they want to remain in their jobs for the next five years.
When asked by PropTech firm Goodlord if they want to be working in the sector in five years time, only 48 per cent of letting agent respondents say yes: 21 per cent say no and 30 per cent are unsure: meanwhile 50 per cent of agents say that most days they feel stressed in their job and 62 per cent agree that their workload has increased in the past year.
Only 40 per cent believe they are paid fairly for the job they do right now.
Unsurprisingly, letting agents in London are commanding the biggest salaries - with survey respondents earning £47,200 per year, on average. However, agents in the West Midlands aren’t far behind, with salaries for professionals in that region hitting an average of £46,700.
No agents in London claimed to earn less than £20,000, whereas the North East saw the highest percentage of agents earning less than £20,000. And 10% of those whose job title is Director or CEO said they earn more than £100,000 per year.
Goodlord says the average letting agents’ salaries in England, by region, are:
Greater London - £47,200;
West Midlands - £46,700;
South East - £43,600;
South West - £43,400;
East Midlands - £41,400;
North West - £38,400;
North East - £33,800.
Goodlord will be discussing the findings at a webinar tomorrow, which is also covering salaries, stress, and satisfaction at work for letting agents, and how new legislation changes are impacting agents’ attitudes, as well as what landlords and tenants think of agents and how the industry can improve those sentiments.
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Considering most of them are useless lying parasites I suggest they keep quiet and get on with their so called work
Mine was taking the money and not monitoring or doing house checks at all, handed back the deposit to the tenant...place was a disgrace, needed decorating and new carpets throughout!! 😱That estate agent is a household name...and yes, I binned them
I don't have a problem with my agents, as an overseas landlord they are essential for me. Maybe it is because the staff are middle aged with years of experience and not youngsters straight out of education. They deal competently and quickly with all issues be it maintenance and repairs, certification or financial issues. They also transitioned all my properties smoothly from tenancies to the new renting contracts we were ordered to transfer to in Wales this year as well. Well worth the 10% I pay them.
I'm also very happyy with the small local agents I use
It's those pesky customers, if you could just get rid of them, everything would be perfect.
I used to use a fairly well known agent who are country wide and never had anything but issues with them, no rent, no checks, no follow up.
Got a company who operate as a franchise but run by a family, been with them nearly twenty years and everything is easy. I pay more as they offer guaranteed rent which suits me being abroad. With the drama I have had with two which had not been with them I am about to switch another one to them.
Bigger agents are like all big business - they don't give 2 hoots about who they put in your property, nor the service they provide thereafter.
I would concur with the view from most responses that the smaller proprietor owned (fully regulated) agents are worth their weight in gold. They know the value of repeat business and how this is achieved.
Dismiss the value of a good agent at your peril though...For example, I'm guessing not many self-managed landlords will be aware of the new compliance due out next Monday which, if not evidentially supplied to tenants prior to new tenancy or tenancy renewal, will stop possession proceedings being successful.
The time has gone when managing a property is simple and can be taken for granted. Most landlords appreciate this, but there are still quite a large number sleepwalking into big problems down the line.
I'll add to that John that the bigger agents employ the youngesters straight out of uni who don't have a clue
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