One of the most common questions we get from our clients is “what are your selling fees?”. So, we thought we’d answer the question here.
What is a real estate agent selling fee?
The selling fee that agents earn is a percentage of the final sale price, paid upon settlement. This is the standard sales commission method. This method incentivises agents to achieve the best price possible for their clients sales. Agents don’t earn anything until the property settles. Agents of higher quality ensure a successful sale through to settlement and work extremely hard to make that process for sellers and buyers alike simple.
Agents commission in Australia is not regulated and varies across states, that being said, commission rates vary between 2% – 4% on average. Although commission is an important factor to consider when you choose an agent, it is far more important to choose an agent who you feel will achieve the very best result for you and work the hardest for you and your situation.
Things to consider are when choosing an agent:
- Who has the best negotiation skills?
- Do they have in depth local knowledge
- What reviews does the agent have from past buyers and sellers?
- Does the agent hold too much stock, will they be able to service you correctly?
- What is the list to sell ratio? Does the agent take on lots of stock and do they sell the majority of it?
- Who has the most experience to be able to achieve the highest possible price?
It is very natural to be wary of agent fees, they are two of the largest expenses when selling a property. If you are unsure about anything or would any advice, please feel free to ask us, we would be only too happy to help!
