Real Estate Agent Fees Brisbane
Commission is the fee paid to a real estate agent for the sale of your property and rates can vary from state to state.
Real estate agents charge a fee for advertising and marketing and a commission for selling your home. This commission is a percentage of the total sale price of your property. Before you list your property with an agent, make sure you understand all the charges.
Some real estate agents include the cost of advertising and marketing in their commission, some charge a flat fee and some will charge you as costs arise. Make sure you understand how much you will pay and what you are paying for. Ask if you have to pay for advertising and marketing if your property does not sell.
Real estate agent fees are calculated as a percentage of the price a property has sold for. For example, on a $500,000 property at 2.5% commission, the commission would be $12,500 – calculated as follows: 500,000 x 2.5% = $12,500.
Use our table below to work out how much commission a real estate agent might charge in Brisbane based on your estimated property value.
|Sale Price||Commission 2.50%|
NOTE: QLD Real Estate commission has been deregulated since November 2014. The maximum allowable under previous QLD legislation was 5% of the first $18,000, then 2.5% of the remainder. Therefore, the table above is a guide only. When choosing an agent you will need to ask how commission is now charged. Some use a flat percentage which can exceed the previous maximum while another may be significantly cheaper.
How much commission should I pay a real estate agent?
Ultimately, the decision is yours but you should always feel that you get value for what you’re paying for. Fixed rate agent fees allow you to pay a specific dollar amount upon the sale of your property regardless of the final price. This approach gives you certainty over the fee but may mean the agent sells the house quickly, even if that results in a lower price.
Do I have to pay GST?
Yes, you have to pay the standard 10% GST on real estate agent commissions.