Everyone wants to get ahead, no matter their career; employees want to see that their work effort and successes lead them somewhere up the chain of command. No one wants to be stuck in a dead-end job with no hope for promotion.
This is the same for estate and letting agents. No one wants to remain on the bottom rung throughout their estate careers. They want to see some sort of progression where they can move up and be rewarded for all their years of hard work.
Keep reading to see if there is a career progression in the estate and letting agent’s careers and what it takes to become an estate or letting agent.
The first step in this process is to make a decision. Do you want to be an estate agent or a letting agent? Both are good career choices, but some people do not have the skills for one or the other.
So analyze your skills and see where you fit in the best. The second step would be to get some education. Estate agencies are prone to hire those people who have some estate training under their belts from a top academic institution.
Since this training is not mandatory by law, you can find a current estate or letting agent to train you and be your mentor. Once you find an agent or agency that will train you, then you are on your way.
The good news is that for the first 3 months, you may have a guaranteed salary of £15,000 to £25,000 depending on your agency and your location as well as a few other factors.
Once you hit your 4th month, that salary may drop to between £11,000 and £15,000 + commissions. Again depending on your agency, location, and other factors.
Your career progression will depend on your success or lack of success during your career. It is important to develop your skills and strengthen your weaknesses, so you can get a promotion when it is time.
One of the choices you will have once you become an estate or letting agent is to decide between specializing in residential or commercial property. This decision should help your progression as you remain focused and can concentrate on one of these two estate options.
This decision will help you develop your skills and aid in providing a solid track record in sales or rentals. Plus, it will provide you with some great experience you will need when you are promoted.
Once you develop a good track record, you can be promoted from junior negotiator to senior negotiator and from there to branch manager. Of course, the size of your firm will dictate how far up the chain you can go and how long you need to wait for a promotion.
If you get tired of being a branch manager, you can then either branch out on your own and start your own agency or go into a partnership with other agents. How far you go will depend on your own goals and desire for more responsibility or if you like being a senior negotiator or not.
In other words, you can remain where you are if you are happy there.
Everything is based on production and performance. But first, you have to prove yourself a worthy agent by enduring those first few months of probation. If you progress well and learn your lessons, then chances are, despite the lack of sales, you should be promoted to a negotiator.
This is where you will stay until your performance and track record prove you are worthy of another promotion. This time it will be to a senior negotiator, and it may take you about a few years to get to this point.
Promotions are not going to happen overnight, and you need to continue to make improvements as time passes. It can take longer to reach the branch manager position as you need a lot of experience to run your own office and be a leader other agents will follow.
If you are patient and continue to perform well. You should see a raise in your salary and earn somewhere close to £40,000 to £60,000 with some chance of making more. One thing to watch out for is that if you are in a big office or agency, your promotion may wait til others have been promoted first.
Just bide your time.
This is like any other career you could have gone into. If you do not perform, you will not get promoted. You may also be asked to find another agency or industry to work for.
This is the nature of the estate and letting industry. You have to grow as an estate agent as well as make sales or get lots of listings. If you can handle an athletic example, only the top players who score a lot of goals or make great plays make the all-star team.
What that means is that you have to make yourself valuable to your agency to make it to those higher positions in the company. You got to sell a lot or make some key deals that make you stand out from the other agents in the office before you get to the next rung on the ladder.
If you have decided that the estate or letting business is for you and you have what it takes to be a good agent, then give our office a call. We have trained hundreds of estate and letting agents over the past 10+ years our office has been in existence.
We have the knowledge to help you get the training and then get on the right track for career progression in this industry. When you want to succeed, you come to the best. Give our office a call today and see what we can do for you
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