I am about to sell a property and would like to know what commission is resonable to negotiate to. I have been quoted 2.95% incl GST. Any tips on the negotiation process would be appreciated. I think last time I sold I got ripped off. property is in seaford and I am currently contacting agents in the area. I am amazed at the difference in price. any help much appreciated
negotiating agents commission when selling
- Thread starter cazzxf7
- Start date
I think that's on the high side. I would say between 1.5 to 2%, with possible an incentive for a result above a certain amount.
What have they quoted you re advertising?
What have they quoted you re advertising?
have to agree with buzzlightyear. That's certainly at the top-end.
The usual range is around the 2.2% (GST inclusive)
A good tactic I think is to get them to offer you a substantial discount and then offer them an increased amount if they get above your expectations.
An example might be that your place is worth $300-$330k. Offer a commission of 1.7% to the value of $320k and 10% on any amount above that.
Note that these figures are provided for example only, you can vary the price point where the commission rate changes to suit where you are comfortable at. Note that like any negotiation, offer the option that is more favourable to you that way you have something to negotiate with.
I like this approach as i think it makes the agent work a little harder on your property when it comes to negotiating with a prospective purchaser.
Good luck.
The usual range is around the 2.2% (GST inclusive)
A good tactic I think is to get them to offer you a substantial discount and then offer them an increased amount if they get above your expectations.
An example might be that your place is worth $300-$330k. Offer a commission of 1.7% to the value of $320k and 10% on any amount above that.
Note that these figures are provided for example only, you can vary the price point where the commission rate changes to suit where you are comfortable at. Note that like any negotiation, offer the option that is more favourable to you that way you have something to negotiate with.
I like this approach as i think it makes the agent work a little harder on your property when it comes to negotiating with a prospective purchaser.
Good luck.
$5,000 - $10,000
I hate the percentage thing, you can't compare a $300k house to a $800k house.
After talking to lots of agents around my area, they try and get 2.5% which works out around 7.5k
I've got an agent that sells for us and we get charge at the low end because we don't give him any grief, he has sold 1 per year for the last couple of years and there are another 2 to go.
The amount of work the agent has to do is about the same regardless of the price of the house.
Also watch out for advertising fees, admin fees and other fees that are payable regardless of sale or no sale.
Cheers
Graeme
I hate the percentage thing, you can't compare a $300k house to a $800k house.
After talking to lots of agents around my area, they try and get 2.5% which works out around 7.5k
I've got an agent that sells for us and we get charge at the low end because we don't give him any grief, he has sold 1 per year for the last couple of years and there are another 2 to go.
The amount of work the agent has to do is about the same regardless of the price of the house.
Also watch out for advertising fees, admin fees and other fees that are payable regardless of sale or no sale.
Cheers
Graeme
it really depends on location, type of property etc
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