CAREER DEVELOPMENT
Career choices must be made Salary versus commission – which do you value most?
T
here was a time when you had a choice of jobs and you were paid what was on offer for that job. No negotation, no
great expectations. But then came packages, commissions, incentives – and choices to be made.
Added to that, we now have an unreliable
market; people are less confident. Employers aren’t sure what they need to pay to be sure of getting the right staff; jobseekers aren’t sure what they dare ask for. With basic salaries for estate agents ranging from a paltry six to a tasty fifty thousand pounds per annum, cash strapped employers are watching their outgoings while employed estate agents worry about relying on strong commission levels (when sales are weak) to boost their net income. At the recent PROPERTYdrum Conference, one award winning employer, Peter Rollings of Marsh and Parsons, confidently stated that he pays his staff a very low basic salary and inspires them to achieve exceptional earnings.
This was met with some dissension, and
mutterings of human rights and attracting good staff. One delegate said that it was all very well inspiring people but it doesn’t necessarily pay the mortgage – a fair point. So what do you consider more important; a higher basic salary or a stronger commission percentage?
HAVE YOUR SAY AND WIN AN IPAD
That is one of the questions to which the winner of this year’s PROPERTYdrum award for
Recruitment Agency, property specialist Deverell Smith Recruitment, is seeking an answer with its second annual Key Attraction Survey for the Estate Agency Sector.
The results of the
survey will provide one of the most comprehensive overviews of what drives agents when it comes to salary packages, incentives and job satisfaction.
Your views could change the way agents are
recruited! To have your say, complete the questionnaire at
www.deverellsmith.com/survey. All entrants will automatically be placed in a prize draw to win one of three new iPads! All information that is provided will be kept strictly confidential and will only be used for the purpose of the survey.
34 JULY 2012 PROPERTYdrum
Speaking to PROPERTYdrum, the firm’s
Founder and Managing Director, Andrew Deverell Smith, said, “Last year’s results showed that whilst important, agents did not see their basic salary as the be all and end all when it comes to job attraction.
“Whilst the majority of respondents wanted their basic salary to be competitive, they also place a strong emphasis on; bonuses, commission, training and career progression”. Dealing with hundreds of agents on a daily basis and sourcing talent for many of the biggest names in the sector, has given Deverell Smith Recruitment a unique insight in to what job offers are put on the table. As Andrew says, “even within the prime Central London market where we do a lot of business, we have noticed real disparity between the packages available.
WIN AN iPAD
“There is no guidance when it comes to salary and commission levels and this has led to a vast difference between the offerings of agencies. We want a comprehensive take on what the agents themselves value most in order to provide a basis for understanding what is seen as the most attractive overall package; taking in to account incentive programmes, commission structures, average salary and on target earnings.” Deverell Smith believes that the more agents that participate, the clearer the overall picture will be. This in turn will help them to advise their clients as to what packages they should be offering prospective new staff. Andrew says, “agencies with large market shares can provide their staff with greater opportunities for making sales so can afford to offer lower basic salaries and smaller commission percentages. Equally an agent operating at the top end of the market may see less frequent sales, but could be making upwards of £2,000 on each completion. Maybe agents working in Central London know that they can afford to sacrifice basic salary in the knowledge that the market remains vibrant, whilst those away from London would prefer the security of a higher basic pay. “We hope to firstly confirm what the ‘norm’ is on a region by region basis and secondly, what those that make the industry tick really want. To achieve this we need their honest and frank opinions”.
WHAT DO YOU THINK? TAKE PART NOW by visiting
www.deverellsmith.com/survey before 31st July 2012 and the results will be published in PROPERTYdrum in September.
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