Qualification and Regulation in Estate Agency has been a much discussed topic over the last decade. Whilst the Government have still have not reached a conclusion as to when reforms to mandatory qualification will be introduced it is still strongly indicated its a matter of when, and not if. Over the past few years the industry has seen an increase in appetite to get industry professionals qualified and an uplift in salaries for those that are.
The Propertymark qualification is a professional certification that demonstrates an individual's knowledge and expertise in the property industry. The "Level 3" qualification is recognised by employers and clients as a mark of excellence and professionalism, and it is highly valued in the industry which is becoming increasingly important to employers in their candidate selection.
Having a Propertymark qualification is helping candidates achieve a higher basic salary for several reasons:
Firstly, it shows that the candidate has invested time and effort into developing skills and knowledge in the property sector, making them more attractive to potential employers. Employers are always looking for candidates who can bring value to their company, and having a Propertymark qualification can demonstrate a candidate has the necessary expertise to help them achieve their goals.
Secondly, the property industry is highly competitive, and employers are willing to pay a premium for candidates with the right skills and experience. A Propertymark qualification helps candidates compete for the top jobs, leading to a higher starting salary.
The recruitment industry reports that:
Across Surrey & The Home Counties Property Recruitment Specialist at Rayner Personnel, Sally Asling, reports uplifts in salaries predominantly in the Lettings and Property Management sectors where a deeper understanding of current and rapidly changing legislation is essential
"We are seeing an uplift of basic salaries ranging from £2,000 - £4,000per annum for candidates with a Propertymark L3 qualification"
These findings are shared with Specialist Property Industry London recruiter for Rayner Personnel, Morne Ackerman who confirms these trends are also seen throughout top companies wishing to attract the best talent in London.
Many top companies will attract candidates into their business by offering to take them on a staggered basic pay starting a candidate on a lower basic whilst they undertake their L3 qualifications the rewarding with guaranteed salary increase post qualification. This viewed tremendously positively by candidates looking to progress their careers and earning potential and greatly helps companies with employee retention.
In a period where companies need to focus on candidate attraction to secure top talent, the Propertymark qualifications are a key component to both employee attraction and retention.