Agent fees

I’m in nsw.
I sold a house for 300k in 2018 and paid 6k agents fees. I am trying to sell a block of land for 100k in the area and the same agent is quoting me 5k plus gst. Does this sound right? I haven’t pushed back yet on price but will agents just not even deal with a property for under 5k commission?

 

Cheers that‘s what I was thinking, I’ve just consulted a different agent who quoted me 3% On the first 100k. Which seems more reasonable

 

5% seems high. From experience these little sales are often just as much work as the bigger ones so they are probably factoring that into the equation. FWIW I charge 3% on the first $100k also. Maybe just ask the agent if you were happy with their service with the first sale.

 

I will do Mick might ask the original agent if they can match. It seems the 3% one has 9/10 land listings and this is probably why.

 

But which agent is getting the sales and how long is it taking?

 

It’s a town of 20k people with 10 comparable blocks. 8/10 are listed with 3% guys, some been on the market Months while some for a few weeks there’s only been 11 total vacant block sales in town this year 10/11 sold by 3%.

 

If the most successful mob isn't too obnoxious (as far as agents go) have a serious chat with them. If it's a small town & relationship issue, have a more serious chat with the first mob.