Brisbane RE Agent commission

Want to know if this is a reasonable selling agent cost.

2.2% + GST
$1,995 - 60 day premium online advertising real estate.com.au
$200 photos (day shoot)
Brochures $49

Thanks

Any suggestions on a better structure ?

 

Why not ask a few more agents?

 

Which suburb is your property, Nundah? REA prices vary depending on the suburb.

Everything sounds about right.

 

Hi, what suburb are you selling in? most agents charge between 1% - 2.6%.
You also want to make sure you choose an agent that is really good at negotiating.

 

There is a company call onepercent.

 

We just sold our PPOR and our REA is charging us 3.3% (incl GST).

 

Yeah I think it depends how you look at it. I know some agents that charge 2.5% but are guns at negotiating. People under estimate the power of negotiation it could make the difference in $10's of thousands and even $100's of thousands.

 

Ouch, you're getting ripped off. Never pay more than 2.2% inc GST. If it's a high end property then you can negotiate lower

 

IMHO, it is not what you pay; it is what you end up with in the hand that maters.

Our first REA (lower commission rate) presented us multiple offers, with the best offer being 23% below what we were expecting. So, we terminated that REA.

The second REA (the one with a commission rate of 3.3%) got us a cash offer 15% above what we were expecting. We are now unconditional.

So, our unconditional offer is 50% higher than the best offer the cheapie REA presented us.

I am ecstatic about being ripped off as you put it .

As the old saying goes, when you are only prepared to pay peanuts, one ends up with monkeys .

 

Lol ok

 

Did you wait 120 days before appointing a new agent? I’m in the process of deciding which agent to go with, but they have fine print in their contracts which state that if they can prove they introduced the client who ended up purchasing the property, they have the right to a commission, even if this happened with the second agent.
And this is even if you alter the exclusivity period.

 

We waited 7 months (two of those months were December and January).

The main reason for such a long break was that we needed time to recover from the first sales campaign as these campaigns are tiring and stressful when selling one’s PPOR.

We asked the first REA to nominate in writing all prospects that would like to reserve as theirs when we advised them we were terminating the agreement.

They identified three parties. As far as we know, none of them viewed the property with the second REA, probably due to the 7 month break.

 

Negotiate the marketing fees (online, photos and brochures) to only be payable if they achieve the price they are appraising and once the property is unconditional. This will transfer some risk on the agent (after all, you're paying them to sell your property) and will prevent conditioning by the agent. If they aren't prepared to do that, then it means they aren't really confident in getting the price they are telling you that you're going to get.

- Andrew

 

The fantails are thinking of selling an IP (townhouse) in Brisbane and an agent who has recently sold some in same complex as ours has quoted 3.3% as "agent's commission on lower priced properties is generally higher than for higher priced properties". The expected price range would be low 400s.
We think that is too high but this includes handling the pre-sale repairs/reno.
Thoughts??

 

My agents are charging me 1.95% inc GST but I'm giving them 2 properties. Good agents based on results.

 

Thanks for the advice with commission rates quoted by agents in Brisbane.
We contacted another agent and he quoted 2.3% +GST so yes, it pays to ask local investors.

 

Has the property settled?