Recruitment guru calls for “reality check” over salary expectations

The Managing Director of the UK’s longest-established estate agent recruitment consultancy is advising candidates to take a reality check over their salary expectations in the current climate.

Anthony Hesse from Property Personnel says that compared to last year, the number of vacancies in residential sales has dropped by over a third (35%) and significantly within that 35%, the number of senior sales positions has dropped by over 60%. The capital is the worst hit area – especially prime central London, where sales vacancies for more senior roles are down by over 50% year-on-year.

He explains: “Sadly, some candidates are still demanding rather than commanding a salary. But in an industry which is often feast or famine, they need to understand that these are challenging times. So they need to take a reality check over their expectations – following the same advice they themselves would give to a client with an unsold and overpriced property.”

Anthony Hesse says that this change in circumstances is prompting some individuals to switch occupations, move abroad to look for work, or even leave the industry altogether. He added: “Some of our candidates want to remain in property but move away from front line residential sales. So they are seeking jobs in land, new homes, and development. A number of them are moving to Dubai, as the real estate market there appears to be on the rise again.

“Several are taking the opportunity to go travelling, and we have had a couple deciding to go into further education. Then there are those who have resolved to get out of estate agency once and for all – with one candidate going off to sell super yachts!”

However, some of the statistics are more positive. Anthony Hesse says that away from the residential sales market, the same year-on-year figures indicate his company has seen a significant rise in vacancies for other property roles.

He explained: “As is always the case in property, when the residential market hits tough times, the lettings market flourishes and vice versa. So on the flip side we’re seeing a marked growth of 15-20% in lettings, property management and business support.

“But whatever the nature of the role, the crucial thing is to understand the current circumstances of the market that has created it. A lot of agents have been in the business for some 20 or 30 years – and they are simply putting their heads down and getting on with the job. But some candidates have only entered the sector since 2011 – and they have to ensure that their expectations are realistic.

“But I should stress that this is more than just a Brexit issue. The truth is that the ‘leave’ vote in the referendum has merely exacerbated a trend which was already evident in the industry.”

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Just 17% of homes selling for more than £500k

The latest analysis by eXp UK has revealed that while just 17.4% of homes sold across England and Wales so far this year achieved a price of £500,000 or more, agents in London, the South East, and the East of England will face the greatest need to adapt should the Government press ahead with plans…
Read More
Breaking News

Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax

The latest research from GetAgent has revealed that the majority of estate agents in England are supportive of Chancellor Rachel Reeves’ plans to overhaul property taxation by scrapping Stamp Duty Land Tax (SDLT). However, 44% argue that the new levy should be focused only on higher-value homes, while 79% favour abolishing SDLT outright without introducing…
Read More
Breaking News

First-Time Buyers Prioritising ‘Forever Homes’

A third of first-time buyer purchases are semi-detached properties, as young people turn to ‘forever homes’   Barclays mortgage data shows semi-detached properties rose in popularity in August, accounting for 33.5 per cent of first-time buyer purchases Four in 10 Barclays first-time buyer customers chose mortgages allowing them to complete their repayments over a 30+…
Read More
Rightmove logo
Estate Agent Talk

Rightmove helps agents get Renters’ Rights ready as bumper autumn of training and content begins

Rightmove, the UK’s largest property platform, is launching a bumper autumn of training and educational content for agents on the Rightmove Hub, to help them get Renters’ Rights ready ahead of the Bill gaining Royal Assent. An autumn series of webinars Kicking off the autumn of content is a webinar on 16th September from 10:00am-11:00am,…
Read More
Estate Agent Talk

Closing the gap on client relationships and recommendations

New research from iamproperty has highlighted the growing disconnect between what buyers and sellers want from their agent and what they experience, which could be killing recommendations from happy clients. iamproperty’s quarterly consumer survey revealed that only a third of respondents (32%)¹ would recommend their agent following their experience. With many agents relying on recommendations…
Read More
Estate Agent Talk

Northern Ireland to expect over 25,000 new home movers

Belfast-based estate agency John Minnis has revealed that Northern Ireland is to welcome an estimated 25,000- 30,000 new arrivals from the UK and Europe over the next five years, as migration to the region reaches its highest levels in more than a decade. Recent figures show that 11,700 people relocated from other parts of the…
Read More