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Tomorrow’s Agents: New funding for apprenticeships

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Estate agencies looking to take on and develop apprentices have been offered a boost in financial support from the Government.

Chancellor Rishi Sunak’s Plans for Jobs announcement back in July included extra funding for employers who take on young people to train up in the industry.

So let’s have a look at what is available for estate agents and what has already been achieved with this scheme.

New funding

Existing funding for apprenticeships has included the following…

A £1,000 payment to employers taking on a new 16- to 18-year-old apprentice OR those aged under 25 with an Education, Health and Care Plan (where applicable).

Total funding of training costs for small employers (under 50 employees) for apprentices aged 16 to 18 years old or under 25 with an Education, Health, and Care Plan.

Now, combined with this existing funding, the following is available, which offers even more incentive for hiring an apprentice. This includes…

A £2,000 payment to employers in England for each new apprentice hired aged under 25.

A £1,500 payment to employers in England for each new apprentice hired aged 25 and over.

Tried and tested

The Junior Estate Agent Apprenticeship process began in 2018 and was a joint effort from a group of prominent property industry employers. The Institute of Apprenticeships approved the Junior Estate Agent Apprenticeship standard and so the group worked with training providers and planned for the eventual end-point-assessments.

This year, due to COVID-19 restrictions, trials of remote assessments were fast tracked with an e-assessment provider. A new virtual assessment platform was tailor-made with a remote testing protocol so that a controlled test environment for end-point-assessments could be supplied.

Professional body for letting agents, Propertymark Qualifications, remotely delivered its very first end-of-point assessment for a Junior Estate Agent Apprenticeship in July. The individual, Charlie Maidment of Fox & Sons, Southampton, passed and became the first ever qualified Junior Estate Agent.

Speaking on behalf of Propertymark Qualifications, Assessment Manager Gary Elliot said: “There has been a lot of interest in the Junior Estate Agent Apprenticeship, and we delivered further assessments in August. Potentially we have up to 150 apprentices over the next 12 months, from an expanding group of training providers.”

So watch this space for the next generation of agents and the bright future of the property industry.