A new report highlights levels of agency pay across the property sector.
The figures, from Rayner Personnel’s latest Property Sector Salary Report, shows pay scales ranging from £16,000 for trainee negotiator roles to as much as £125,000 for managing directors.
Pay also varies on a regional basis, with senior London branch managers typically getting £40,000 per year, while the equivalent role in the North East of England is paid £27,000 annually.
It comes as the report shows property companies are offering more flexible ways of working and better salaries to address talent shortages in the sector.
Rayner Personnel suggests the market faces a severe shortage of experienced professionals due to post-recession job losses still impacting the industry.
It said this has made it difficult for companies to find qualified and experienced workers and those with the right skills and qualifications.
To address this growing issue, the report said, companies need to take proactive steps to attract and retain new talent.
This begins with creating a more inclusive workplace that provides equal opportunities for all employees as well as offering attractive benefits and incentives, such as flexible working hours and generous salary packages, the report says.
The report said companies in the property industry are already opting for new recruitment strategies such as flexible hours, remote work, competitive salaries, and innovative compensation packages.
Rayner Personnel said companies should ensure staff have the right skills for emerging technologies such as artificial intelligence and blockchain.
Josh Rayner, of Rayner Personnel, said: “The property sector faces the inevitable consequences of a tight labour market and we can see the effect of this in our report particularly where salary increases, job churn and the sheer volume of vacancies are concerned.
“With increased competition for talent, employers are recognising the need to offer ever more attractive salary packages to retain skilled employees and to attract new people. Of course, a job role is not just about the money as employers now are under increased pressure to provide employee benefits and a truly stand-out work culture too.”
> Download the full report.