Real estate agent fees and commission

THe costs to sell your home explained

How much do real estate agents charge to sell a home?

Real estate agents in Queensland charge a commission to homeowners when they sell their property. This commission is normally calculated as a percentage of the sale price and varies depending on the location of the property and the agent handling the sale. Generally, the commission rate falls within the range of 2% to 3% of the sale price. Homeowners have the power to negotiate commission with their agent, paving the way for a mutually beneficial agreement that is clearly listed on the agency agreement with the seller.

We have developed a handy agent fee calculator you can use to estimate the potential cost of your commission based on your sale price. 

What are the potential costs when selling your home?

While the agent's commission is one cost, it's important to keep in mind that there may be other expenses to consider when selling your home. Don't forget to take these additional costs into account to ensure you have the full summary of costs to sell your home.

1) Property repairs

To ensure that you get the highest possible price for your home, property repairs may be necessary. Investing in repairs can have a significant impact on the value of your property. The cost of repairs may vary from $500 to $50,000 depending on the scope of the project.

2) Staging your property

When it comes to selling your home, staging can be a great way to make it more appealing to potential buyers. If your home is vacant, staging is a must. The cost of staging varies depending on the size of your home and the level of furnishings and artwork required. However, the investment can pay off in the form of a quicker sale and a higher selling price.

3) Marketing your home

Exposing your home to a wide audience of buyers is critical to achieving a fantastic selling price for your home and can vary from $1,000 to $20,000 depending on how much exposure you need to reach the buyer prepared to pay the highest possible price. An experienced real estate agent will support you in navigating what is most important to invest your money in and will help you save money by only spending cash on the areas that are absolutely essential. Local Property Team real estate agents will develop a tailored strategy and marketing plan for your home.

4) Solicitor or Conveyancer

A conveyancer plays a critical role in the process of selling your home, acting as a legal intermediary to ensure that all contractual and statutory obligations are met by both parties involved. From the initial stages, the conveyancer will prepare the necessary legal documents, including the contract of sale and vendor's statement, making sure that they comply with local regulations. They will also coordinate with the buyer's conveyancer to facilitate the transfer of property, manage the exchange of contracts, and ensure that funds are correctly disbursed upon settlement. Additionally, they will oversee the payment of any outstanding mortgages, property taxes, and other financial obligations tied to the property. Their expertise in property law helps to streamline the selling process, minimize risks, and provide peace of mind to the seller. Cost can range from $750 to $1,500.

factors to consider besides fees when choosing an agent

When it comes to real estate, the old saying "cheapest isn't always the best" holds true. Rather than focusing on an agent's commission percentage, it is advisable to consider their experience and track record to determine who is the best fit to sell your home. The agent with the lowest commission may not necessarily be the one who will help you get the highest sale price for your property in the end. Therefore, it is recommended that you choose an agent based on their performance history, not just their commission rate.

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