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Had a conversation with the an agent the other day where they proposed on putting a rate schedule for commission & advertising for an inner city Melbourne property (house). It was 1.5% commission plus three advertising options, which costed in addition between $4k & $6k.

Maybe at the higher end of the market, there is more ability to get someone to pay over the odds, so then you either purchasing the 'REA brand' to drag interest and or their network of buyers. I have thought REA have a pretty good idea of the price, and if they say your property is ~$900k...