If you’re interested in deal packaging properties then you’ll either end up going into business by yourself or joining an existing business.
Whilst starting your own business would mean you would keep more profits per deal, working for somebody else could help you get started and learn the ropes.
If you are planning on getting a job in deal sourcing then you will definitely want to know the types of salaries on offer.
Since property deal sourcing is a pretty niche industry, there’s not a lot of information out there about the types of salaries on offer.
What makes it harder to find information is that most people tend to set up their own businesses and work as a one-man (or woman) band.
We looked at job descriptions as well as salary aggregator sites to see what the expected salary would be if you were working for a business as a property deal packager/sourcer.
What Does Glassdoor Say?
According to Glassdoor (one of the leading salary aggregator websites), the average base salary for a ‘property sourcer’ is £32,719 in the UK.
On the high-end, people earn a base salary of closer to £50,000, and on the low-end, people earn closer to £20,000.
Property deal sourcers will tend to have bonuses paid based on performance too.
According to Glassdoor, additional bonuses range between £1,616 and £14,178 per year with an average of £4,787.
Based on the data above, the average property deal sourcer’s salary is as follows:
Average base pay: £32,719
Average bonus: £4,787
Average total: £37,506
The data above is based on 222 salaries and is a snapshot as of November 2022.
You should probably expect to earn less than the average if you are brand new to deal sourcing.
On the other hand, if you have a few years experience you could expect to earn more than the average.
Note that when working for a company, you may often be actually sourcing properties for the company itself rather than outside investors.
For example, it may be a lettings company that needs to source adequate properties to be used by their customers.
It’s important to keep this in mind when we are looking at job descriptions and salaries.
What Do Job Descriptions Say?
Unfortunately, there’s not a lot of jobs out there for property deal sourcers if you look on Indeed.
Whether you search for ‘property sourcer’, ‘property deal sourcer’ or ‘property deal packager’, there’s not a lot of results even when you search UK-wide.
But there were a few at the time of writing and this is what the job descriptions of 5 different companies said when it came to salary.
Company No.1
No base salary, commission only
40% of profits from each deal sourced. The average deal amount is £3,500 according to this company.
It’s hard to say how much of this £3,500 will count as costs so it’s hard to say exactly what 40% of the profits would be.
This company did however say that you could expect to make between £1,600-£3,500 per month but didn’t provide any information as to how many deals that would be.
For the most part, commission-only jobs tend to play up the earning potential in job descriptions so take that for what it’s worth.
Company No.2
£25,000 – £50,000 a year which includes a base salary + any commission based on the number of properties sourced.
Company No. 3
£50,000 – £70,000 a year on a freelance self-employed basis.
No real details on this one in terms of the revenue share per deal. This makes it hard to estimate what you would make per month.
They also expect you to have your own vehicle to drive around in.
No base salary so it’s commission only.
It’s hard to gather how much you could make per month realistically, especially if you have no experience.
At the estimated £50,000-£70,000 per year, the company is suggesting you could make between £4,167 – £5,833 per month.
Company No.4
This one just says:
Salary: Competitive salary with open-ended bonus, plus car allowance.
I know, so helpful…
Company No. 5
Salary: Competitive.
Summary
So to summarise the 5 job descriptions we looked at, this is what the salaries said:
- Company No.1: Commission only. 40% of the profit from each deal. Each deal is about £3,500 in revenue.
- Company No.2: £25,000 – £50,000 (includes base salary and commission)
- Company No.3: £50,000 – £70,000. Commission only.
- Company No.4: “Competitive”
- Company No.5: “Competitive”
As you can see, job descriptions can be kind of useless when looking at salaries for property sourcers because they’re either too vague to be useful, promise you the world in commissions, or just say it’s “competitive”.
It’s also quite dependent on the individual since there is commission involved which is based on performance.
How To Find A Job In Property Deal Sourcing
For the most part, finding a job as a property deal sourcer is somewhat difficult.
It’s not a common job role or title so job boards aren’t really the best place to find any roles.
If you really wanted to work for a company helping with their deal packaging then your best bet would be to contact property sourcing businesses directly.
To find property sourcing businesses near you try:
- Searches on Google and Google maps
- Connecting with people at property networking events
- Find them on social media
I’m not saying it’s easy but there is going to be an opportunity out there.
Maybe the business isn’t looking for a full-time employee but you could see if you can get some shadowing or a part-time role as an assistant if you’re new.
If you can prove yourself then this could lead to a more substantial role.
Of course, the other option is to just set up shop on your own but you’ll have to be compliant first.
Before you start your own business you should also be aware of the fees in property deal sourcing.