When dealing with a real estate agent, people always have this question in their mind, ‘How much money am I supposed to give my agent?’ ‘How much I should pay?’ Well, such confusion is obvious seeing the number of fake real estate agents in the markets nowadays. Anyways, that is not our concern. We are more focussed about knowing the exact commission and fees that are legitimate to pay to your real estate agent before you finalise a deal.
As per the data and statistics say, Australian highest commission rates are in Tasmania which is over 3.00%. The lowest commission is marked in South of Australia which is 2.00%. So, technically the commission can be anywhere between 2.00 to 3.00 percent can be considered as the amount that a real estate agent may ask from you. Keep in mind that this percentage is calculated on the total amount of which the property is being sold or bought.
For some, this percentage may seem a little bit out of their budgets whereas other might just think that this much amount is played to be paid. Is there any chance where you can negotiate on the matter of commission and fees? Fortunately, yes! You can. There are no fixed rates for the fees of a real estate agents in Australia. And therefore this offers a chance to both the seller and buyer to negotiate on the total amount they are needed to pay to the real estate agent.