REA Commission

[navy blue]

Going to sell our house soon, in the low to mid 300K mark in central country victoria. Have had commission rates from 2.75% - 3.30%. How much do REA "discount" their commision? What have others experienced? I was thinking about 0.5% off their commission rate? Guess it comes down to how desperate they want the listing?

Cheers

 

[jezza]

Navy Blue

You can haggle them down as much as possible but they in return will put in there respected effort based on what they are getting. This does not mean pay them more and you will get a better price but commision is a small percentage of the pie when in comes to making a decision on which REA to sell. Have a look at

- Past results for each company
- How many in the area they have
- Find a place that recently sold and ask the owner how they felt the whole process ent
- What type of marketing they plan on doing
- Auction vs private sale
- What there vluation/expectation comes in at

There is numerous more and I am sure a quick search on here and google will list all the questions.

Jezza

 

[JASA]

Going to sell our house soon, in the low to mid 300K mark in central country victoria. Have had commission rates from 2.75% - 3.30%. How much do REA "discount" their commision? What have others experienced? I was thinking about 0.5% off their commission rate? Guess it comes down to how desperate they want the listing?

Cheers

I'm in SA so don't know if that makes a difference? I have negotiated for 1.5% commission on two properties successfully, this included internet advertising and brochures. I got a reasonable service but I still think even at that rate they were getting money for old rope. You still have to pay additional costs for newspaper advertising. Any chance you could sell yourself? I had always bought and sold privately before internet advertising took over, but on a recent post i was told that some agents will advertise for you on the internet for a very small charge. Now I know that, I will probably not use an agent again. if you want to try selling privately, It's not a difficult process at all. Just set your price, and consider carefully what is a realistic price that you are willing to accept, then advertise, show your home and engage a land broker to sort out the rest. You'd be surprised how low REA commission will drop when you advertise a private sale. I often had more calls from agents than buyers but still managed to sell myself for my set price.

Good Luck

 

[bornfree]

As long as you have a good idea how much the property should sell for and in control, REA is only someone who does the leg work. I sold my house (when making the big move to Brissy so a bit emotional) and paid the spineless REA almost $18K for doing very little, will never pay that kind of money again.