G’day all,
Just check to see what is the typical commission RE agents charge.(*for selling properties*)
Also with the market slowing are they more flexible with this amount?
Cheers,
Batts
Hi Batts,
Agents around the Logan area of Brisbane are 7 to 8%. I have several with one agent and I’m getting charge 7% commision, I pay $11 per inspection, $55 for lodging insurance claim.
When I only had the one properety with this agent I used to pay 8% and also other costs like, end of financial statements, renewal fee $33, Admin fee $5.50 per month, Tribunal fee $27.50. These have now been all waved.
Hope this helps [rolleyesanim]Ah, sorry guys i didn’t make my question very clear.
I was referring to the commission when SELLING a property.
Thanks
Batts,
Have sold a few lately. Qld agents tend to stick to the recommended commission. Vic REs are negotiable.
Advertising fees seem to be their cream at the moment. They insist you pay $1000 plus, negotiate this fee, or pay only on sale.
Hope this helps.
hrm
Commission on sales range from 2-3%. It is all negotiable. It can be a lower % up to your reserve price and much higher on above your reseve price to motivate agent. Advertising fee etc are normally payable extra but as every thing else, it is also negotiable.
I was buying a property and seller was not prepared to come down on price. And I was not prepared to go up. No body wanted to give in and eventually agent dropped his commission by 25% to make the deal so that I was happy and seller was happy too. It is better to have one bird in hand rather than two in bushes.
It also depends upon how easy it is to sell or buy property in your area.
Sam Kumar
Hey Batts,
There is a pretty set amount of commission. I have never had an agent vary it for me. The good agents earn thier money. The best way to work out the recommended commission rate for QLD is 2.5% plus $450. This is because the first $18 000 is rated at 5% balance at 2.5%. The best I manage to squeeze out of an agent is free advertising etc. Are you selling up already????JTW
PS What is a Mexican BBQI agree with Sam, 2-3% is the average, some go more and include all advertising and some are down to 1% and charge the advertising on top. It varies between agents and how good they are and how good your negotiations skills are, if you are in a position to negotiate..
Either way, try not to sell if you don’t have too..
Roy H.
L.R.E.A., Dip FS (FP)
Guardian Property Specialists (GPS)
http://www.gpsnetwork.com.auHey thanks guys. I’ve only ever sold one property and that was 6 years ago in Adelaide, so I no idea what the “standard” commission was.
I just wanted to know for a baseline what an agent expects if I’m trying to L/O deals through a REA.
JTW, a mexican BBQ sin’t what its cracked up to be, and I’m sick of being asking if I’d like “another shrimp on the barbie” [biggrin]
Cheers,
Batts
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