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Realestate agent fees

Discussion in 'Real Estate' started by AsxBroker, 25th Feb, 2012.

  1. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi,

    I was wondering what the typical realestate agent fees are?
    Obviously, every agent is going to have a different fee amount and structure, I'm just trying to get an idea.

    Cheers,

    Dan
     
  2. Terryw

    Terryw Well-Known Member

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    Location:
    Sydney
    Varies from state to state. NSW about 7-8%.

    WA is very high compared to other states for some unknown reason.
     
  3. AsxBroker

    AsxBroker Well-Known Member

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    Hi Terry,

    Thanks for that, I was actually thinking about for sales?

    Cheers,

    Dan
     
  4. Terryw

    Terryw Well-Known Member

    Joined:
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    Location:
    Sydney
    This also varies from state to state. In NSW there are no longer any restrictions I beleive so the agents can charge whatever the client is willing to bear. Generally there is a sliding scale of 2-3%.

    In the past I have tried to offer a greater sliding scale with commissions at 10% above certain amounts but this doesn't seem to help if the agent thinks it is too far out of the price range. I just paid an agent 3.2% in tasmania including GST.
     
  5. Insight

    Insight Brisbane Buyers Agent

    Joined:
    24th Sep, 2006
    Posts:
    229
    Location:
    Brisbane
    For a rough rule of thumb 3% is a decent quick calculator.

    QLD has a maximum at the moment of 2.5% of total + 5% for first 18k ex GST, add vendor paid marketing onto that. That is likely to be deregulated in the future though.
     
  6. AsxBroker

    AsxBroker Well-Known Member

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    Posts:
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    Location:
    Sydney, NSW
    Hi,

    Thanks for the help.
    Very informative :)

    Cheers,

    Dan
     
  7. vanessa

    vanessa V J Tait & Associates

    Joined:
    15th Jun, 2011
    Posts:
    23
    Location:
    West Pennant Hills, Sydney, NSW
    For sales in Sydney commission rates can range from as low as 1% up to about 3.5%. I strongly recommend to my clients to ensure that whatever they are quoted includes GST. You also have to weigh up, some may charge 3% but it includes some advertising whereas the 2% one may include absolutely no advertising and you have to pay for it.

    Ultimately, you have to like and be able to work with your agent. If they charge 2.5% and sell your house for the price you want and you are happy then it is worth 2.5% whereas if you spend 1% can't stand the agent, etc why bother.

    You have to trust them regardless.

    Hope this helps a little bit.