What are the fees involved in selling my home?
When you sell your home the following fees will be applicable;
- Agent Commission
- Property Marketing/Advertising
- Legal work/Conveyancing
Agents Commission
The agent’s commission is only payable if the property sells and is usually paid at settlement or when the release of deposit is authorised. If the property does not sell, you would not be expected to pay the agent any commission.
Agents Commission is generally around 2.2% of the sale price including GST. Agents Commission is negotiable so you may be able to strike a more suitable deal with the agent at the time of listing your property.
Commission can be based on;
- Percentage of the sale price
- Agreed fixed Fee
- Agreed Fixed Fee plus Bonus Incentive
- Combination of Fixed Fee plus a Percentage of the Sale Price
Property Marketing/Advertising
Property Marketing/Advertising is an out of pocket expense so this is required to be paid whether the property sells or not. This fee is usually paid at the commencement of your marketing campaign but may be negotiated to be paid in instalments or upon settlement of the sale or withdrawal of the property from the market.
Included in the Marketing/Advertising fee will be the following services;
- Real estate portal advertising (realesdtate.com.au etc)
- Property sign boards & Point of Sale material
- Professional photography, floor & site Plans, property video
- Social Media, local area & database marketing
The costs involved will be dependent on the individual agents recommended campaign but can range from $2,200 to $5,500 including GST for properties up to $1,500,000 price range.
This fee is also negotiable so discuss with agent at the time of listing.
Legal Work/Conveyancing
The legal work/conveyancing is required for the preparation of the Vendors Statement (Section 32), Contract of Sale for either Private Treaty or Auction Sale and then all required actions to complete the conveyance of the property and transfer at settlement from the Vendor to the Purchaser.
This can be completed by either a Licensed Conveyancer or Solicitor, the costs vary but could range between $1,100 – $2,200 including GST for the sale transaction of your property.
Munn Partners Real Estate Fees
Our Agents Commission is an Agreed Fixed Fee with an optional bonus incentive if required
Our Property Marketing/Advertising is recommended at around the $2,500 price range.