REAL ESTATE COMMISSION FEES AND OTHER COSTS DISCLOSED
Here you can find everything you need to know about real estate commission and fees.
We also highlight expenses that can be avoided with better insight.
FAST TRACK TO THE FEES & COMMISSION ADVICE YOU NEED
This article provides you with the fees and commission percentage costs and calculated examples of fee structures.
This article provides you with 10 ways to pay the lowest real estate commission when selling your home.
This article provides you with the six most common reasons a house doesn't sell and how to avoid such an unncessary expense.
This article provides advertising, incentives, marketing, tips and trips.
This article provides with an overview of what real estate agents and companies pay for including compliance, conduct policies and legal obligations.
TIPS FOR ADVERTISING COSTS, NEGOTIATING COMMISSION AND YOUR CONTRACT TERM
- Question whether you need to do any newspaper advertising as this can be very expensive. Is it worth it, in your area, in the current market and in your price range? Around 90% of people search for properties online.
- The longer you sit on the market unsold, the more advertising you will need to pay for. How long you sit on the market will be down to your choice of agent and their competency. Have you done your due diligence?
- You might want to consider a shorter contract period to put a bit of pressure on the agent over the sale time frame. The term of the contract is up to you.
- Question what your agent will tell interested parties when questioned about price. Many buyers ask an agent representing a seller, what price you would sell for or 'what will get it across the line?' With the wrong agent, this could end up getting you the minimum you discussed which can cost you tens of thousands, so this is an important issue to discuss with your agent.
- Not paying attention to your curbside and home presentation can cost more than the commission. Agents often say good presentation can add 10 to 15 per cent onto an estimated sale price. This alone can get you tens of thousands more for the least amount of cost, if any at all. If you need help, email us some photos of your property and we can provide you with some advice to get started at no cost. It's all part of our free service.
- You are able to negotiate real estate commission with your agent.
- You may also be able to negotiate with the agent, a refund of the marketing expenses upon an unconditional sale and purchase agreement. Overall, this can reduce your total costs substantially.
- Commission fees may vary from place to place, but a lower commission does not always end up meaning more money in your bank at the end of a sale.
These tips combined with good real estate advice can make a significant difference to your equity from the sale.
If you need any other tips, get in touch - this is a free service for vendors - and please share this with your friends!