Can someone give me a basic breakdown of the costs involved with selling a house through a real estate agent, and what commission rates are "standard".
Thanks .....
Browse Forums Real Estate 1 May 03, 2010 6:43 pm Can someone give me a basic breakdown of the costs involved with selling a house through a real estate agent, and what commission rates are "standard". Thanks ..... Building on an acre in Macedon ......one day. Re: Anyone sold a house recently? 2May 03, 2010 7:34 pm Hi mummagoose, I sold my apartment about 3 years so it's not recent, but I guess the costs I had still applies - Agent's commission, I paid 2.2% of the final sale price - Advertising costs, I did not pay any as the agent had quite a few prospective buyers, but I've known people who had a $2500-$5000 advertising budget, that should be agreed when you sign with the agent - Solicitor fees to generate the contract of sale and prepare exchange and settlement, I paid around $1000 - Auction fees if you are going that path, I do not know how much they charge - Mortgage discharge fee (assuming you owe the bank money), can't remember how much that is Hope this helps jim Re: Anyone sold a house recently? 3May 03, 2010 8:51 pm Thanks jimnsal, that's really helpful. It's the commission rate I'm particularly interested in. I'm hoping I can negotiate on that .... Building on an acre in Macedon ......one day. Re: Anyone sold a house recently? 4May 03, 2010 8:57 pm We sold at the end of 2008 with a fixed price agent for $5000, we tried to sell with full commision agents but they where not successful, the fixed price agent sold it in a week. Off memory the go gecko site had a commision calculator you put in your asking price and it worked out home much commission you pay. Cheers Lou http://take2-customdesigndownslope.blogspot.com 07-10-09 omg they have cut the block 14-05-10 we finally have the keys Re: Anyone sold a house recently? 5May 03, 2010 9:28 pm Oooh take2, I like the sound of that fixed price agent .... that's considerably cheaper than what we'd be paying if the commision was 2% as Biff suggested. Thanks for the go gecko tip as well Building on an acre in Macedon ......one day. Re: Anyone sold a house recently? 6May 03, 2010 9:55 pm mummagoose Oooh take2, I like the sound of that fixed price agent .... that's considerably cheaper than what we'd be paying if the commision was 2% as Biff suggested. Thanks for the go gecko tip as well We could not justify the $19000 it was going to cost in agents commission as they all do the same things these day and List the property online, and meet the buyers on site, not one agent drove a client from their office, the service we recieved from the fixed price agent was better than from any of the high commision agents. It also gave us more room in neg as we where paying less in commissions. Cheers Lou http://take2-customdesigndownslope.blogspot.com 07-10-09 omg they have cut the block 14-05-10 we finally have the keys Re: Anyone sold a house recently? 7May 03, 2010 11:11 pm Our agent's normal fee is 3%, but due to my father being a retired employee of the company they did it at staff rate - 1.5%. Don't choose your agent based solely on what commission they charge though - you'll often find that with the pricier agents you are paying for their breadth of contacts and their (or their employer's) reputation - both contributing factors to finding a buyer for your home at a price you are happy with. Built a Tribeca 44 with the Big M Sales Accept 15/06/09, Contract Signed 24/09/09, Site Start 23/11/09, Slab 11/12/09, Frame 12/01/10, Roof 20/01/10, Lock-up 30/03/10, Fixing 30/04/10, Handover 27/08/10. Re: Anyone sold a house recently? 8May 04, 2010 10:24 am jimmalenko, I already have 3 interested buyers in my house, so figure I could almost sell it without an agent .... so I'm pretty keen to pay as little as I can for an agent. Thanks for your advice! Building on an acre in Macedon ......one day. Re: Anyone sold a house recently? 9May 04, 2010 10:33 am mummagoose jimmalenko, I already have 3 interested buyers in my house, so figure I could almost sell it without an agent .... so I'm pretty keen to pay as little as I can for an agent. Thanks for your advice! Hi, I did hear in our suburb someone negotiated with the agent for a lower commission if the house sold in less than a month. Our house sold in a week (last December), no physical advertising was done, just web site through agent so he pocketed a good fee for clever work. - Good on him. I wish I had negotiated to get this. Steve Building The Chesterfield Grande with McDonald Jones https://forum.homeone.com.au/viewtopic.php?f=31&t=33587 Re: Anyone sold a house recently? 10May 04, 2010 2:53 pm I have recently being ringing around the find out the same thing, I am in Melbourne and between the 4 I have contacted so far, they are all around 2.5 - 3% commission, plus some have advertising costs and some dont - you have to find out all of their charges and then factor in the commission, as cheapest commission may not end up the cheapest agent. Section 32 legal cost the get made up was quoted around $600 - $1000 mark. I like the sound of these independant agents - do they operate in Melbourne? Site Start: 10th September, 2010 PCI : Friday 27th January, 2011. Handover: 3rd February, 2011 Build Thread: viewtopic.php?f=31&t=37677 Re: Anyone sold a house recently? 11May 04, 2010 2:59 pm I mean fixed price Agents - and can anyone give me details. Site Start: 10th September, 2010 PCI : Friday 27th January, 2011. Handover: 3rd February, 2011 Build Thread: viewtopic.php?f=31&t=37677 Re: Anyone sold a house recently? 12May 04, 2010 3:12 pm mummagoose jimmalenko, I already have 3 interested buyers in my house, so figure I could almost sell it without an agent .... so I'm pretty keen to pay as little as I can for an agent. Why not let your agent cause a small-time panic between the 3 of them (and anyone else they can attract) by manipulating them all simultaneously to help you get a better price ? Built a Tribeca 44 with the Big M Sales Accept 15/06/09, Contract Signed 24/09/09, Site Start 23/11/09, Slab 11/12/09, Frame 12/01/10, Roof 20/01/10, Lock-up 30/03/10, Fixing 30/04/10, Handover 27/08/10. Iām loving the potential versatility and practicality of a bench seat in a shower. Anyone had one of these done recently? Not sure if they are straight forward and easy… 0 762 |