How much to pay to sell a house?

Discussion in 'The Buying & Selling Process' started by RickyMathews, 11th Apr, 2016.

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  1. RickyMathews

    RickyMathews New Member

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    How much to pay if I going to sell a townhouse which worth ~$45000(to real estate agent, taxes, ... etc)?
     
  2. hash_investor

    hash_investor Well-Known Member

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    450K?
     
  3. Nick Valsamis

    Nick Valsamis Well-Known Member

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    If it is in Sydney then selling commission varies between 1% to 3% and taxes will depend on the capital gains you have made if it's an investment property.
     
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  4. Cactus

    Cactus Well-Known Member

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    I normally push for 2%inc. I think it leaves enough in it for the agent and is not too expensive.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    It is not so much what % you pay the agent but how much are they going to achieve.

    Remember to consider the marketing plan and their effectiveness.
     
  6. Greyghost

    Greyghost Well-Known Member

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    Comms: they will start at 2.2%, then 2%. However they are just highballing you. Usually get between 1.4%-1.8% + gst.

    Advertising: can be circa $3-5k.
    Ask them if they have potential buyers in the books, so you could potentially sell the property without it being listed.
    I tend to try this approach.

    Shop it around off the books (of course agency agreement signed) for 2-4 weeks, then if no luck do the usual advertising. Local paper advertising costs are a waste though. When selecting an advertising package I would avoid the local paper package costs.

    Auction fees: $$

    Solicitor fees: say $600-$1200 to prepare section 32 and transact sale of property (of sold).

    CGT/tax depends on a number of other variables and figures you have not mentioned.

    Please guys, figures may vary significantly, it is just a ballpark as I sold a property in VIC recently (on behalf of another family member) circa this price range.
     
  7. Xenia

    Xenia Well-Known Member

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    Basically what it is in Adelaide too.

    The most important thing is to be visible in the marketplace.
    The marketing plan is very important.
     
  8. Xenia

    Xenia Well-Known Member

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    Basically what it is in Adelaide too.

    The most important thing is to be visible in the marketplace.
    The marketing plan is very important.
     
  9. RickyMathews

    RickyMathews New Member

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    Sorry, my mistake.
    Should be 450,000.
     
  10. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Buy my place.com $650.

    Anyone done this? I have seen a few houses sold through it. Why wouldnt you?

    Anyone can take some pics on there smart phone and make up a nice story to go with it.
     
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  11. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    The comms will vary by quite a bit.

    Just like any service profession - the cheapest does't necessarily end up being the best option. I'd rather pay a high performing agent with a track record within the immediate area a higher split - then an agent with a couple of listings who's charging less.

    Cheers

    Jamie
     
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  12. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Just don't use your phone to take pictures.
     
  13. sanj

    sanj Well-Known Member Premium Member

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    Agreed. I've used 1 particular agent to sell a fair few properties and he's sold more for friends I recommended - all up if guess around the 30 to 40 properties mark and I happily pay a bit more than others would charge.
     
  14. Corey Batt

    Corey Batt Well-Known Member

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    Very much dependent on the location of the property - in Adelaide circa 2% is average. Focus on results than price though, no point having a dud agent at a cheap price.
     
  15. Dylan33

    Dylan33 Well-Known Member

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    Sell it yourself and keep the commission. I've just sold my place and saved $10k. Spent half a day doing the pictures with lighting and then cropping and brightening etc on the iPad. Came out stunning.
    Altogether a painless process.
     
  16. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Just curious, what would you do if someone says the property you are selling is too expensive?
     
  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    Justify your price with recent comparable sales in the area (print the list out to have that info handy)
     
  18. Whitecat

    Whitecat Well-Known Member

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    It's amazing with the Internet that more people arent selling their homes themselves I will thought about 5 years ago that this would change but it hasn't really
    Would seem a good way to go cut out the middleman
     
  19. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Sometimes it pays to have a middleman who is a skilled negotiator with no emotional attachment to the property. Quite often I have got considerably more for a client after they have said they would accept the offer, as buyers often divulge more to a skilled agent than they would to the home owner. Of course that all depends on the agent and their particular skill set, or lack there of.
     
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