Browse Forums Real Estate 1 Oct 13, 2009 12:24 am Hi all, I'm new. I am selling my first apartment in sydney(350k) and my agent has asked for 2.5% gross(commision). I feel that is too much as I have a $250k mortgage to pay back from the sale price, purchase was 270k. Plus i still have to pay the conveyancor as well as whatever other fees I will have. It was my live in property for 9 months then became my investment property. Does anyone have any tips or suggestions ? Re: Selling property in sydney 2Oct 13, 2009 9:47 pm Well that does seem to be the going rate, but all I can suggest is that you try to negotiate it down lower? or perhaps find someone else. Or maybe you could look at doing a private sale yourself? Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Selling property in sydney 3Oct 14, 2009 10:43 pm I have no experience selling property and work 16 hours, its just not possible. I got him down to 2.2% now the conveyancing fees are another shocker. Conveyancing Fee 1100 Liaison with discharge mortgagee, providing authority and other information obtaining discharge amount, arranging settlement 150 Each additional Mortgagee 100 Additional Negotiation Protracted negotiations involving resolution of contract conditions or ssues that may arise between exchange of contracts and settlements(generally involving numerous phone calls and/or correspondece) and dealing with issues that arise after settlement 100 Issue of 2nd contract to new real estate agent(s) 65 Taking instructions and issue of a sale contract to a purchaser which does not then proceed to exchange. 125 Land Tax Clearance 125 Company title units 250 Old system or qualified title 35%+Schedule Fee Cancelled and rebooked settlement 110 Disbursements Title searches 14.85 Title Dealings and plans 16.5 Local council 149(2) certificate 55 Local council 149(2) & (5) 117.7 Sewer Diagram 18.74 Sydney water BOS/BAS Certificate 46.42 Survey 275 Building Certificate 210 Registration Fee(Lands Department) 95 Agency Fees 66 Post Settlement title search 14.85 File Retention(incl archiving and storage) 42.9 Re: Selling property in sydney 4Oct 14, 2009 10:50 pm Looks about right... You don't want them to get it wrong for you ... could you do expessions of interest Onc Where you are coming from is where you are going to... Re: Selling property in sydney 5Nov 12, 2009 2:42 am The conveyancing fee is a bit on the high side, you could find solicitors to do for $900 plus disbursements. Agent's commission is a bit tricky. Paying higher does not mean they are going to do a better job. In your negotiation, throw in several other headings. eg... An OPEN agreement is always a good one as most agents hate it. Having an open allows you to terminate the agreement at short notice (no 90 day exclusive) or run it together with other agents as it suits you. Another one is a performance guarantee, that is if they cannot sell it for the agreed price range in a specified period, they pay you for your lost time. I think when you mention these points in negotiation, you'll see more of the real character of the agent. You might be able to apply to divert the sewer at your expense. In NSW you would contact a Water services co-ordinator and they would give you advice as to whether or not… 1 16150 Ask for some kickplate to be added and also for tradies to be requested to use lanyards on tools on that side of the building. Be respectful and have the discussion… 1 1698 The setback from the kerb is 4m. It is council land to provide an area for services like sewer main, gas mains, water mains, underground power or poles for overhead power,… 4 2402 |