How much should your estate agent's commission fee be? New Australia-wide survey
Real estate agents’ commissions are the lowest in South Australia and highest in the cheapest housing market, Tasmania, according to a new report.
The insight revealed the national commission average was 2.07 percent in metro areas and a higher 2.5 percent in regional areas.
Tasmanian vendors pay at an average commission of 3 per cent, while in South Australia the average commission is 2 per cent.
NSW and Victoria both had average rates of 2.05 per cent, Queensland 2.61 per cent while Western Australia averaged 2.31 per cent.
The average commission on a NSW $500,000 house eased, according to LocalAgentFinder.com.au.
LocalAgentFinder chief executive Matt McCann said the average commissions in NSW and Victoria were a reflection of the robust markets
“It’s interesting to see Western Australia is at 2.31 per cent, given the market’s current state,” Mr McCann said.
“Prior to commissions being deregulated in Queensland, they were capped, so a high average commission could still be carrying on as an effect of that,” Mr McCann said.
The rival Openagent website had previously calculated the average commission real estate agents charge varied between the lowest of about 1.6 four percent and the highest about four percent.
It noted across the country the average charge was around 2% to 2.5% of the sale price of your home, or from $10,000 to $12,500 when selling a $500,000 house.
