Hi, i've just received a marketing plan to sell a unit in Melbourne.
The agent currently managing the property quoted commission of 2.2% inc GST which is pretty standard. He also quoted $2,200 exc GST for marketing costs.. sounded like a GST inclusive price so i checked and his reply was it's $2,420 inc GST.
So i ask for an itemised list of marketing costs which he's supplied below.. $2,826.84 inc GST with the comment that "it's a little more than initially estimated, however I believe it is adequate to achieve the result we are looking for".
I've said i don't want to auction and prefer to sell private treaty so let's do a 4 week campaign, list it at $595k and see what offers we get. The unit's been valued between $540k-$625k but i think it should sell for ~$550k based on an identical unit in the same block selling 2 weeks ago for $665k which was fully reno'd (mine isn't). If i sell for $550k, total selling costs come to $14,930 or 2.71%.
Another agent using Jenman's system said they charge 2.5% inc GST with no marketing costs payable which is $13,750 based on a sale price of $550k. That's an extra $1,180 in my pocket but i don't want to get the other agent offside as they're managing other places for me and could possibly make life difficult.
Not really sure where i'm going with this now i've tapped it out.. should i choose the Jenman agent and save some money on fees or stick with my current agent who's managing it?
Do people think his marketing costs are fair or should i try and cut costs by removing some items? Has anyone recently sold in Melb and were your marketing fees about the same?
Sorry for long post, any feedback would be great thanks.
The agent currently managing the property quoted commission of 2.2% inc GST which is pretty standard. He also quoted $2,200 exc GST for marketing costs.. sounded like a GST inclusive price so i checked and his reply was it's $2,420 inc GST.
So i ask for an itemised list of marketing costs which he's supplied below.. $2,826.84 inc GST with the comment that "it's a little more than initially estimated, however I believe it is adequate to achieve the result we are looking for".
I've said i don't want to auction and prefer to sell private treaty so let's do a 4 week campaign, list it at $595k and see what offers we get. The unit's been valued between $540k-$625k but i think it should sell for ~$550k based on an identical unit in the same block selling 2 weeks ago for $665k which was fully reno'd (mine isn't). If i sell for $550k, total selling costs come to $14,930 or 2.71%.
Another agent using Jenman's system said they charge 2.5% inc GST with no marketing costs payable which is $13,750 based on a sale price of $550k. That's an extra $1,180 in my pocket but i don't want to get the other agent offside as they're managing other places for me and could possibly make life difficult.
Not really sure where i'm going with this now i've tapped it out.. should i choose the Jenman agent and save some money on fees or stick with my current agent who's managing it?
Do people think his marketing costs are fair or should i try and cut costs by removing some items? Has anyone recently sold in Melb and were your marketing fees about the same?
Sorry for long post, any feedback would be great thanks.