One of the first questions people looking to sell their property in Australia ask is “How much is a typical real estate agent commission in Australia?” And its a good question – after all – the agent commission may well be the largest cost to the seller and so it really does pay to get a good rate.
In Australia, the typical real estate agent commission can vary depending on several factors, including the State or Territory in which the property is located and the specific agreement negotiated with the agent. While there is no fixed standard commission rate across the country, the following provides a general guideline:
Residential Sales: The standard commission rate for residential property sales in Australia usually ranges between 1.5% and 3% of the final sale price. This rate is typically calculated as a percentage of the sale price plus Goods and Services Tax (GST).
In March 2023, typical real estate Agent commissions for the following areas were as follows:
Rural and Commercial Sales: For rural and commercial property sales, the commission rates tend to be higher due to the complexity and specialised nature of these transactions. Commission rates for these types of properties can range from 2% to 5% or more, depending on various factors such as property size, location, and market conditions.
It’s important to note that commission rates are typically negotiable, and therefore it’s difficult to pinpoint exactly how much a typical real estate agent commission in Australia is. Real estate agents may be willing to adjust their fees based on factors such as the property’s value, market conditions, the level of service provided, and the agent’s experience. It’s recommended to discuss and negotiate the commission rate with potential agents to ensure it aligns with your needs and expectations. Better yet, you can use an App such as bRight Agent to negotiate for you and get multiple agents to lower their commission rate and other fees.