Selling Central Coast IP: agents commission

[melbinman]

Hi all. I'm about to put my late Mum's Woy Woy villa (bought from her a few years back, before the recent 'mini boom') on the market. I've been quoted a selling commission rate of 2.2% by my managing agent, reduced from their standard 2.75% 'in view of your established connection with our office'. Just wondering if that's reasonable (am based in Melbourne so not sure what going rate is).

Thanks for any input.

 

[Propertunity]

2.2% is pretty good for this part of the world. All the best with the sale.

 

[MattA]

As above... 2.2% is pretty cheap for the C.Coast'

Average would be 2.5 - 3%

 

[tess85]

Earlier this year I'd obtained quotes from 2 Gosford agents and they both quoted me 2.2% inc GST. This includes all marketing etc.

 

[Spades]

Hi melbinman,

I agree with prop and matt,2.2% is cheap...On a recent transaction i was quoted 3% + Gst + marketing,though i could have gone the standard flat rate.

Went with 3% + so agent could work it for the incentive.

Good luck

Cheers Spades.

Ps.Could you PM the link if you don't mind.

 

[Big Will]

2.2% seems normal for properties up to around 600k-700k after that you might look at getting it reduced. 1% commission would likely come in after 1M but really depends on how hot the market it and how long the agent is going to have to work on it.

I would say regional locations you might pay more as less people are looking thus meaning more work for the agent.

 

[melbinman]

Thanks all..

for your input. Yes, Spades, I'll PM you the link to the listing once it goes up.

 

[The Fence]

Sold 2 recently both at 2.5% incl GST and marketing.

Good service too. Property Central Berkely Vale. Paul Hills, great guy good agent.

 

[havinago]

Hi all. I'm about to put my late Mum's Woy Woy villa (bought from her a few years back, before the recent 'mini boom') on the market. I've been quoted a selling commission rate of 2.2% by my managing agent, reduced from their standard 2.75% 'in view of your established connection with our office'. Just wondering if that's reasonable (am based in Melbourne so not sure what going rate is).

Thanks for any input.

That's acceptable.

As long as they don't stick it up you for marketing costs etc.

Just say

"happy to pay you 2.2% including GST on the sale, how you get their is entirely up to you, good luck"

 

[havinago]

As above... 2.2% is pretty cheap for the C.Coast'

Average would be 2.5 - 3%

Agree with this