Agents selling commission

[Tillie]

Hi,

It has been a long time, almost 10 years, since I sold a house last time. I have been too busy buying now considering selling PPOR.

Could someone help me to negotiate the selling commission? What's the current selling commission rates in Melbourne for the houses over $1m price tag? Also does anyone know how much the internet advertising cost for the agents in realestate.com and domain? And how much the agents normally are charging for internet advertising?

Thanks already in advance,

Tillie

 

[Scott No Mates]

Advertising costs vary widely depending upon the agency and the package they have signed up to with Domain/RE.com

Most recently I have seen costs vary from $500-$5000 depending upon the strategy employed.

 

[superAndrew]

These guys charge $699 to list your property on realestate.com.au if you want to sell it yourself. I have seen lower offers on similar sites.

http://www.forsalebyowner.com.au/

So I am assuming it would cost agents less than $700 for a basic listing on realestate.com.au.

Andrew

 

[Big Will]

So I am assuming it would cost agents less than $700 for a basic listing on realestate.com.au.

Heaps of different packages the websites offer the agents. From a subscription/yearly payment to list to individual listing fee.

Further to this they even have different prices for where you appear on the website. Agents who have a larger subscription fee or listing fee would be using premium plus or something similar http://ffx.adcentre.com.au/trademarketing/domain/PDF_links_2013/DM13043_PremPlusBR_SP.pdf

Also I know from experience (used to be a REA) agency's have to buy the rights to top spot. http://ffx.adcentre.com.au/trademarketing/domain/PDF_links_2013/DM13061_Top_Spot_BR_sp.pdf

Which could either be one agent having the exclusive rights to it for that suburb (yes it is by suburb and one agent could have multiple suburbs) or could be a 50/50 spilt on two agencies.

As the ranking on a listing goes (this using Domain's terminology, but Realestate.com has the same)

Top Spot
All premium plus
Priority Placement (Elite)
Priority Placement (Standard)
Subscription (Elite)
Subscription (Standard)

Priority placement http://ffx.adcentre.com.au/trademarketing/domain/PDF_links_2014/DM13062_PriorityPlacement_Subscription_v6.pdf

Subscription
http://ffx.adcentre.com.au/trademarketing/domain/PDF_links_2014/DM13062_PriorityPlacement_Subs_v3.pdf

At the end of the day you get what you pay for, the cheaper alternatives you may end up on page 2, 3, 4 or later even if you posted for the first time.

 

[Big Will]

Forgot to add the agency have to pay separate fees to both Realestate.com and domain.com and when I was a agent in Melbourne it is 50/50 where the enquires come from. Some properties you might receive 60/40 then the next one will be 40/60 but overall it is pretty close to 50/50.

 

[Tillie]

Thanks for the help everyone.

Yesterday we signed the contract to buy a new PPOR and now we have to get our current one ready to be put to the market and negotiate the deal with the agency etc.

Any agent recommendations in Melbourne's north east suburbs?