RESEARCH Salary versus commission


As a valuable survey on pay and conditions is launched, Andrew Deverell Smith asks, what do you value most?


W


ith basic salaries for estate agents ranging from anywhere between £6-50,000 per annum, many agents


rely on strong commission levels to boost their net income. But what do you consider more important; a higher basic salary or a stronger commission percentage? That is one of the questions that Deverell Smith Recruitment is looking to find an answer to with its second annual Key Attraction Survey for the Estate Agency Sector. The results of the survey will be to provide one of the most comprehensive overviews of what drives agents when it comes to salary packages, incentives and job satisfaction. PROPERTYdrum magazine is supporting the initiative to help shed light on pay and conditions in the industry and will publicise the results in a future issue. 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 and information


provided will be kept strictly confidential and will only be used for the purpose of the survey. 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, we have a unique insight in to what job offers are put on the table. Even within the prime Central London market, we have noticed real disparity packages on offer. 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 to get 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.


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. 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 find out 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. The Survey closes on 15th June 2012 and will be published in September.


Key Attraction Factors Survey in association with


Leading property recruitment specialist Deverell Smith Recruitment has launched its second Key Attraction Survey as it bids to pull together a comprehensive guide to recruitment trends, staff motivation, salary levels and job satisfaction. We are keen to understand what motivates people when they are looking for a new job as well as identify the industry standards with regards to salary, bonuses, training and career progression.


Last year’s ground breaking survey found that


“75% of London’s property professionals were indifferent or dissatisfi ed with their job”


and acted as a wake-up call for many UK property agencies, who subsequently called on Deverell Smith Recruitment to assist with revamping their talent retention and recruitment strategies.


To have your say in shaping your next job package complete the


questionnaire at www.deverellsmith.com/survey. All entrants will automatically be placed in a prize draw to win one of three new iPad’s.


The information you provide will only be used to produce a statistical report for the survey and your individual data will not be made available to anyone outside of Deverell Smith Recruitment. We appreciate your time and contribution to this important survey.


PROPERTYdrum JUNE 2012 49


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