Letting agents claim to be undervalued and underpaid

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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