How much is real estate agent commission?
If you’re using a real estate agent to sell your property, you need to know what their fees will be before you sign.
Pay too much, and you’re missing out on thousands of dollars that could be in your pocket.
Pay too little, and you’re likely missing out on services and skills sets that would increase your sale price by tens of thousands…
Knowing what the average real estate commission is can help you create a more accurate budget and avoid any nasty surprises.
Find out what the average real estate commission is below.
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How much do you pay a real estate agent?
There is no standard real estate commission, so it can vary a lot from agent to agent. The way in which the fee is determined also varies.
There is no legislation that says what a real estate agent can charge. Fees are determined by agreement between agent and seller. Most agents have a standard fee, or fee structure, which they will tell you up front. You can try and negotiate that fee, and they can choose whether to agree to the lower rate or not.
The real estate agent commission percentage typically varies from as little as 1% to around 3%. Most Canberra agencies charge between 2% and 3%. The average commission for a real estate agent is around 2.5%.
Is it always a percentage of sale?
No. There are several different fee structures that Canberra real estate agents use. Each of them have different benefits. Which one you and your agent agree to should be based on what your want to achieve. We cover these in our guide to real estate agent commission.
What else impacts how much I’ll have to pay?
House price, agent experience and the location of your property all impact how much commission you’ll pay in the end.
What other costs are involved in selling my home?
To sell your home, you’ll also be looking at marketing costs, stamp duty, conveyancing costs and/or solicitors fees, auctioneer’s fees if you are selling via auction and marketing costs. You can find more information about these in our real estate commission guide.
Should I sell my property myself?
Maybe? There are pros and cons to this. We recommend using an experienced real estate agent in order to get the best result, but if you fit a certain criteria, selling yourself might work for you.
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Canberra real estate commission & fees
A guide to who pays, how much & more
Sections include:
> What does real estate commission pay for?
> How much do you pay a real estate agent?
> Real estate commission structures
> What affects how much you’ll pay?
> Addition property sale costs
> House sale marketing costs
> How to choose a property marketing campaign
> Should you sell your property yourself?
> How to choose a real estate agent
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