Commission to sell a house in Sydney?
- Thread starter ynnug
- Start date
Usually around 2.2% for REA selling comms in Sydney.
2.2% of $1.6m is quite a lot. About 35k for selling a pretty ordinary house? Wow!
That's a lot more than yearly minimum wage.
Anyone else?
i know andrew mertion i think it is 1%
best to call a real estate you want cause it can be any figure and go from there
2.2% sounds nuts. Having sold a similar value property in Melb last year, we played agents off against each other down to 1.4%.. I mean seriously, you are paying for the advertising campaign so where is the value in the additional %? The higher value the property, the cheaper the % should be.
I think if you shop around you should be able to do better than 2.2% based on Melb and I can't see why Syd should be any less competitive.
I think if you shop around you should be able to do better than 2.2% based on Melb and I can't see why Syd should be any less competitive.
Thank you Jusm. I will have to shop around for my friends. Even at 1.4% its about 20k to sell their house. If I were an agent, I will grab it with both hands. Sounds like a good value for one's time.
You have to remember, each agent usually has a partner, or assistant, so the commission gets shared there, then the principal of the agency gets their cut, usually 40-50%, then the master franchise gets their thin slice eg/ ray white owner, then they only get paid if they sell, so if they work on say 15 properties per annum and they only sell 9, that's all they get paid on, if you work it all out, the average income of a rea is about $40k p.a
It's not all beer and skittles.
But I agree, paying even $20k commission to sell something is a lot.......
It's not all beer and skittles.
But I agree, paying even $20k commission to sell something is a lot.......
Just because the business model is unsustainable doesn't mean you have to pay it. The reason agents try charge so much is that there is an oversupply of agents so when they get work they have to make it count. When prices head down agents leave the market. I think the last REA figure was 30,000 had left the industry since 2011.
