Why Estate Agents Are Finding Themselves at Home in Recruitment
80% of UK adults believe we’re currently in the midst of a housing crisis. While mortgage approval rates drop, interest rates rise and Brexit is dangling the industry precariously on a cliff edge, estate agents are finding themselves looking down the barrel of a gun.
The industry is in a bad shape at the moment, and we haven’t even touched upon digital disruption yet. The explosion of online services in the property sector is beginning to be felt on the High Street. So much so, 45% of UK adults already claim to prefer using online services to traditional High Street estate agencies.
So, where does this leave you?
If you’re sitting on the wrong side of a changing industry, it’s time to start considering your options. Here’s why estate agents are finding themselves at home in recruitment.
A Booming Industry
You won’t find the uncertainty of the property market here. The £32.2 billion industry is going from strength to strength and isn’t showing any sign of slowing down. In 2017 alone, nearly 6,000 new agencies were opened, a 20% increase on the year before.
The industry has been growing consistently for the last 8 years and is set for another bumper year. This means that those with prior sales experience, especially in high value sales roles like estate agency, will likely find a position in the industry.
The same can’t be said for estate agencies. Foxtons, once cited as the “fastest growing and most successful estate agency in the UK”, is currently experiencing an all-time low share price of 62p – a whopping 86% drop from their peak of £3.89 in March 2014.
Adapting to Other Industries
The benefit of the recruitment sector is that it feeds off the success of other industries. For example, in 2018, the UK space industry is expected to create 100,000 new jobs – adding a £40 billion turnover. That’s 100,000 new placements for recruiters working in the space sector.
The recruitment industry is reactive to the economy and current affairs. For instance, the implementation of GDPR coupled with a number of high profile cyber-attacks has led to exponential growth in the cyber security sector and a huge demand for skilled workers.
Recruitment is less sector-specific and will therefore always remain buoyant. As one industry falters, another will grow rapidly. Unlike the property market, working in recruitment is a recession-proof option.
The Process is a Little Less Gruelling
Right, we’re not saying that getting someone a new job is plain sailing, it certainly has its challenges. But, unlike estate agency, you won’t encounter any difficulties with buyer chains, conveyancing, solicitors or surveys.
The process of recruiting a candidate can still be lengthy, drawn out and at times gruelling, but it’s a bit easier than selling houses for a living. If you were successful as an estate agent, you’ll be successful in recruitment.
Greater Progression Opportunities
Estate agencies aren’t renowned for their regular promotions and clearly defined career paths. In recruitment, the more you bill, the more you’ll step up the ladder. As an experienced salesperson, you can expect to hit the ground running in recruitment and watch the promotions roll in.
Let’s also not forget that on average, recruitment offers far better base salaries than you may be used to. This gives you that all-important level of security for when you’re going through a dry patch with deals.
We Offer a Better Commission Structure
When we speak to Estate Agents, one of their greatest fears is that by stepping out of the industry, they’ll lose those all-important commission payments. This is why recruitment and estate agents are a match made in heaven.
Here, you can expect to earn around a third of what you bill. On average meaning that the commission you’ll earn is actually better than anything that could be expected working as an estate agent. Just make sure you find yourself an agency with a solid commission structure in place.
You Don’t Have to Work on Saturdays
We saved the best for last with this one. Working in recruitment means you’ll no longer have to face those dreaded Saturday mornings in the office. Working six days a week must have been awful, let’s get rid of that for good!
Let Us Find You the Perfect Opportunity
We understand that as an experienced sales professional, you’ll be tentative to jump at the first opportunity to come your way. Let us take the time to understand what exactly you’re looking for from your next career move and we’ll explore your options. We can offer confidential advice on the best move for your personality and skillset, while also helping you find an agency which will fit your aspirations perfectly. If you’re nervous about what the switch to recruitment will be like, we can help direct you here too.
If you’d like to take the first steps in switching industries, upload your CV below and we’ll get in contact with you. Alternatively, have a browse of our job board to get a feel for the type of vacancies we currently have on offer.