Agent sale commission

Anyone has sold a property lately? What are the current REA commission levels for the properties in different price brackets e.g. $250k - $500k, $500k - $750k, $750k - $1m, $1m - $1.5m or over $1.5m?
 
Ask an agent or two. Varies greatly by location.

I saw some agents in Mount Druitt were doing 1%. Sounds cheap, but they'd be selling off their books and would probably only have to do one OFI t get the sale.
 
The commission is negotiable. It is not regulated. The rate depends on how greedy or desperate the agents is. :).
 
  • Like
Reactions: BV
Thanks for the quick responses. Have you notice if commissions varies by state? Property mgmt commissions certainly do.
 
I don't think sales varies as much (percentage wise), but it certainly does change on area and state.

I see a lot around 2% or say 3% up to X amount and a sliding scale after that.
 
This is kinda off topic, but thought id ask.

How long after gaining your licence as a real estate sales agent can you actually start selling and claiming commissions?
 
This is kinda off topic, but thought id ask.

How long after gaining your licence as a real estate sales agent can you actually start selling and claiming commissions?

When you list and sell your first house and it settles. The deposit we all pay the agent will take their cut out of it before transferring it for settlement.

So I guess you could in theory in 7 days after you get your licence get a commission cheque but it would be highly unlikely as you would need to list a property and have a buyer lined up who is going to pay cash and can get everyone to meet a 7 day settlement.

However if you are talking about a rep licence you would need to find employment before listing a property.
 
This is kinda off topic, but thought id ask.

How long after gaining your licence as a real estate sales agent can you actually start selling and claiming commissions?

Immediately!
As long as you can get listings - that is the difficult part.
 
Depends on the area...and the turn over - if it's an area with high turn over than generally it's lower as plenty of competition.

In Sydney there's some ( normally one man operation type agents/company) that's offering 1% comm ! most agents hate the 1% comm agents :p
 
Hi, does anyone have any recent experience in selling residential inner city Melbourne? Property value is around $1.3-1.4m and the agent I'm talking to is looking at a structure (either (1) fixed higher % or (2) lower % plus incentive above a certain amount) to deliver a base fee of just below $28k in GST for where he expects it to sell for. Do you think this is reasonable for the work that goes into managing a sale process? In the back of my mind I had something around $20k as being about right, but there's no science behind that.
 
2-3%?..

I'd say 1.8% plus say additional amount as an incentive for achieving over x amount.

But 2-3%...

I the 3% is for a property or land at 200k

2.2% inc GST is about normal for 500k

2% inc GST prob about right at 700k

it depends on market, how long it is going to take to sell and how much work the vendor is going to be.
 
Back
Top