Hi,
Anybody have any comment of how to choose between real esate agent in property selling? What is the industry average for agent commission?
Thanks
Maddy1769commissions are an average of 2.5 to 3.5%
I would go with one that provides an accurate appraisal
be wairy of one that gives you a high appraisal just to win over your business, this is a common trick, it dosent mean that they can sell it at a higher price, only the market can determine selling price, agents that purposley up the appraisal to win you over are just plain dishonest! (and desperate).I would negotiate to pay for advertising only after they have sold the house at their appraised value (or above).
make it clear that you will give them nothing, if they sell below and you will not be paying for advertising just to “try it out”.Be careful, they can very quickly chew through your equity! screen at least 3 before you choose one to work with.
what state are you in?
We buy properties in Adelaide. No Agent Fees.
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http://www.renttoownau.com/ http://www.vendorfinanceau.com/Hi Dr X,
Thankyou for your reply and info.
I am in Victoria. I actually got 3 real estate agents to give me an assessment, they all came back around the same range, mid $300k to high $300k, which I considered is a good and realistic figure. And the commission part ranges from 2% to 3%. The hard bit is to believe whether they can achieve what they quote, the 3% commissioned agent said if I go with him, there will be a clause in the contract that I can sack him anytime in that period if I am not happy with his performance, this is an extra bit compared to the other agent. Does that make me want to give him the business?
Welcome for comment [exhappy]
One divison of Metropole is a buyers’ advocacy service – Licensed estate agents who don’t sell property but buy property for clients.
Since my team is dealing with agents all day, we may be able to give you some advice as to who is good or who is not as “hot” in your area.
Please send me a Private Message with the details or an email to [email protected] and I may be able to help
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.PropertyUpdate.com.auAs an agent, I agree with Dr X. The market determines the price your property is worth, it’s just how you get your property out there into the marketplace. At our agency, if we have an exclusive authority and someone wants out, obviously we’ll have a meeting to see why they are unhappy with our services, but really, what’s the point in us keeping a listing that has an angry vendor? Sure you may eventually get everyone on side, but we believe that vendors should be able to move agents if we’re not giving them the service we said we would when we listed their property. Just seems fair.
As far as advertising goes, I would go to the agent and say you’ll only pay half – I dont have your listing so it doesnt bother me how you approach it, but I believe it would be more effective than all or nothing, otherwise you’ll only get small ads, and your house will sit on the market longer than it otherwise would. However, definitely negotiate.If I can help with anything, just let me know. Im in Victoria too, so may be able to let you know what different agents are like, and how they differ.
Thanks, Mark.
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