Posted 14 Feb 18

Understanding Agents Fees

When it comes to selling a property, it’s important to be aware of all the costs involved. Two key expenses to consider are the agent’s commission and the cost of advertising and marketing your property.
The cost of advertising and marketing will vary depending on how comprehensive you want the campaign to be and the experience of the agent. The commission is a percentage of the sale price the agent will receive for selling the property. Agent’s commissions are deregulated Australia wide, so they will vary from agent to agent and state to state.
Why use an agent?
Although it is possible to sell a property without an agent, securing a good agent is one of the best ways to ensure you receive the highest possible price for your home. Do your research before settling on an agent so that you can find one that you trust to give you the best outcome overall.
Although it may be tempting to go for the cheapest option, it’s important to remember your end goal. An agent who charges very low commission may not be highly skilled or may lack confidence and negotiation skills. Even though you may save money initially, if your house sells for less than you had hoped for you could end up worse off overall.
You get what you pay for
If you want the best possible price for your house, it’s worth paying a premium for an agent who has a strong track record of sales and will work hard to help you achieve your goals. To prevent any nasty surprises further down the track, make sure you get all the fees and costs in writing before you move ahead.
A good agent will have a strong understanding of current market conditions, and in-depth knowledge of what buyers are looking for. They will be able to use their expertise in marketing and negotiation to secure you the best possible price, meaning the additional outlay will actually end up saving you money long-term.
Words by Emily Usher
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