If you are planning to sell your property, then surely you will compare agents. While doing comparisons of real estate agents, you will become confused after seeing the range of commissions and fees. Do they have fixed fees or do they negotiate? Surprisingly, negotiation is done in fees and commission. You need to have an expert by your side in order to do negotiation. Otherwise, you need to do proper research, then you will be able to do negotiation. Manny Singh, Real Estate Agent in Hampton Park can help to bring best option for you, contact today.
Average Commissions and Dealer’s Fees
Where you live in Australia can make a difference in terms of paying fees. Since there are no standards for fees. There can be significant distinction, depending on the agent that you chose. In a few cases, you might have to pay extra for;
- Photography and style
- Marketing copy and floor layout
Real Estate Auction Fees
You must check what’s in agent standard fees while receiving an offer to work, and look for an agent that’s give you clear information about how much it’ll cost to sell your house if you choose to work with them.
Fees of Land Marketing in Victoria
Bringing your house into the limelight through to make sure that people notice it and come forward to purchase it. Agents will usually execute a full marketing plan, which includes professional photography, copywriting, an online listing, a floor plan, and a signboard outside your property.
In Melbourne, marketing fees vary from around $500 to over $2000 for a 45-day campaign. It depends on how much advertising you do.
In regional areas of Victoria such as Geelong and Ballarat, marketing prices are cheaper at around $300 to $1000.
Marketing cost varies a lot from one property to the next, but shouldn’t exceed $10,000. Traditional vendors usually charge marketing costs in addition to the commission.
Auctioneer’ s Fees
If you choose to sell your house by auction, you will need to employee auctioneer for the auction. However, the cost of auctioneer ranges from $400 up to $1000 in Victoria. If you are planning to purchase or sale the property then Manny Singh, Real Estate Agent in Hampton Park, can help you to get the best options.
How Can You Negotiate Real Estate Agent Fees and Commissions?
Here you will get to know how you can negotiate. By nature, dealers are competitive. So, you may need to convince them to lower their fees or commission because they want your business. Informing them the same is the best way to do this.
Before hiring any agent, you can compare commissions, and some things like:
- The commission they ask.
- If some advertising is included in the commission.
- What type of advertising is included?
- Ask about their marketing fees for different types of advertising.
- Do they expect payment first or do they deduct advertising after they sell your home?
- Do they have a ‘No sale, No fee’ policy?
Check with at least three property dealers in your area. When you interview them, you will be armed with information. Suppose, if one charges 2.0 percent commission and doesn’t include any advertising; you can ask them why they don’t do as their competitor does and include some advertising for the same commission. If their commission is more than their competitors, ask them why. They become aware that you have done your research and are aware of local fees and commissions.
You have options when you choose an agent:
- Open listing and list with more than one agent, you can opt.
- You can give full authority to your hired vendor. After doing this, the agent will get a commission even if you get a buyer for your home.
- A sole agency differs from full authority. If you find a buyer, your agent may not receive a commission.
Not reading the fine print is common mistake home sellers make. For example, you may get a good feeling about a vendor, only to be disappointed after you have put the house on the market. You want to find another agent but forgot to check that the six-month clause is in your agreement. Hence you ignored the reading of the agreement.
Is Over-Negotiation Allowed?
It is considerable that you want to pay less commission and fewer fees, but that should not be your sole focus when comparing real estate agents. Some real agents charge a lower commission and lower marketing rates because they want to earn more clients. However, it isn’t always true, but sometimes it may be because they have a bad reputation in the community.
If they accept your lower offer quickly, is it because they need a client? If so, they are not the best choice. Whereas, a reputable real estate agent may charge a higher commission, but work harder on your behalf.
Land marketing charges depend on the marketing campaign that a real estate agent does. They always want to let you choose the extent of marketing you want to do. The marketing costs of a house are between one half to one percent of the cost of a home. It might include:
- Professional photography
- A flyer or brochure
- Online advertising
- Newspaper advertising
- Advertising in real estate magazines
- A video or drone footage
You may decline the option advertisement. A good place agent will tell you all the options. Today, online advertising plays a crucial role. You will be given some online advertising options by the real estate agent:
- They can recommend hiring a professional photographer to take photos of your exterior and interior.
- They will advertise your property on their website.
- Advertising will be done on the websites which have a greater reach.
If you are good at clicking pictures, you can click and by doing so you will have a good option to present your house in its best light.
Today, everyone has their own website. However, their website does not have that much so be careful. While, high-cost advertisement means it has the potential to attract more customers.
The major thing is to get a reputable dealer who will work on your behalf to sell your home at the highest possible price. If you choose to lower the commission and fee, this can save you a few thousand dollars, but you can bad when your property sells for $20,000 less than it is worth.
So, now you know what you can pay from the start and how you can negotiate. It does not matter how much you sell, including all the requirements you need to sell your home. You can do negotiation to get the best deal. But make sure you get the right value for your property. For the sake of saving a small amount, avoid making bad deals. To reduce the chance of loss you can choose a real estate agent with a fixed fee.
If you are thinking about selling your property and want this journey to be easy, then contact Manny Singh, a real estate agent in Hampton Park.