Letting agents have shared details of how they feel about their jobs and salaries as part of the Goodlord & Vouch State of the Industry report.
The research found that more than 50% of letting agents are not sure whether they want to work in the sector in five years time. In addition, the insights show that only 40% of letting agents believe they are paid fairly for the job they do.
Goodlord will be hosting a webinar alongside market experts on Thursday 28 September at 10am to discuss the issues affecting letting agents right now, from salaries and stress, through to work satisfaction and industry legislation.
Some 60% of letting agents do not believe or are not sure if they are being paid fairly for their work.
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.
The majority of agents do not see a long-term future working in the letting sector.
When asked if they want to be working in the sector in five years time, less than half – 48% – of respondents said yes, while 21% said no and 30% were unsure.
The data indicated that the longer an agent had worked in the industry, the more likely they were to say they wanted to remain in lettings.
Some 50% of agents said that most days they feel stressed in their job and 62% agreed that their workload has increased in the past year.
Goodlord’s Oli Sherlock will be discussing the findings at the upcoming webinar. He will be joined by Gina Peters, partner at Dutton Gregory, Glenn Perry, founder and MD of Zest Property, and Neil Baldock, director at Charles David Casson.
The panel will cover 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. They’ll also be taking questions from the audience.
Oli Sherlock, director of insurance at Goodlord, said: “Our recent State of the Lettings Industry report highlighted the wide range of pressures agents are under. This is a brilliant industry, full of opportunity, but it’s been a tumultuous few years, with new challenges on the horizon. This webinar will be an opportunity to analyse some of these emerging trends and discuss practical measures to support agents and their teams.”
You can register for Thursday’s webinar here.
