I am currently looking a selling our PPOR value approx $360k, we have had a couple of agents around and the fees vary from 2.2% plus advertising capped at $900 to 3.5% incl everything. Just wondering what everyones experiences are and what the average costs are?
I took the 2.2% plus advertising on our last sale, as I didn't expect it to sit on the market long (sold in 2 weeks). So we targetted our advertising to the market most suited and didn't fo the big flash ads in the bigger papers etc.
I suppose it depends on how long it takes to sell in your area on average, if you think it might be a while the 3.5% might be a better option, all inclusive. Watch the capped, as once you hit the cap, they may cut back on adversiting your property directly.
The difference between 2.2% and 3.5% for your property would be something around $4650. That's a lot of advertising. I'd be taking the 2.2% but the cap is a double edged sword. There is incentive there for the agent to flog it off quickly so they don't reach the cap. You don't want it sold quickly, you want it sold for the highest price you can get. I'd be going for 2.2% + advertising. (full stop).
I'm glad I didn't go with advertising seperately for my house - it was all included in a commission (which was over 5%) but I could pull out after 90 days, no fee. The agent had it for over 6 months. If you hit a crap agent its nice to be able to switch and not have to pay them - check your fine print.
I currently have the house advertised, free, on http://gumtree.com.au and http://homesales.com.au , which suits me fine as it'll probably be for sale at least another 6 months before it sells. No for sale sign on the house.
I've had 3 very serious enquiries so far (and dozens upon dozens of tyrekickers) ... one 'I'll keep the phone line hot' after baulking at the house having tenants, one who emails me every few weeks to ask more questions, and one who has to sell another house first *sigh*. Oh well, only takes one buyer ...