Selling apartment in Melbourne - fees?

Discussion in 'The Buying & Selling Process' started by Ripe, 23rd Apr, 2020.

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  1. Ripe

    Ripe New Member

    Joined:
    16th Oct, 2019
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    Location:
    Melbourne
    Hello, I'm about to sell my apartment in Melbourne CBD and I've been quoted marketing fees of roughly $4,000 and a commission of 2.75% (+ GST), are these reasonable given the current market? This is my first time selling property so I really have no idea. The commission seems high but the property isn't expected to sell for that much (below $300,000).

    Appreciate any opinions. Thanks.
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    18th Jun, 2015
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    Location:
    Melbourne
    Couple of years ago paid $3.4k advertising and 2.2% inc GST (sold at $380k)

    The Y-man
     
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  3. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

    Joined:
    25th Jun, 2015
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    Location:
    Melbourne
    2.2% + GST is common in the best of times.

    1.5% inc GST should be gettable now, in the worst of times.
     
  4. Lil Skater

    Lil Skater Well-Known Member Business Member

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    Location:
    Melbourne
    Pick the best agent for the area based on what they’ve done. Someone might charge you $2-$3k less, but a better agent may make that up easily with a higher sale price.

    Given the price point of the property though, that seems quite reasonable.