If you're selling your property in NSW through a Real Estate Agent. The average real estate agent commission is usually 2.1% of the sale price.
Take a look at the graph below to compare commission rates in your area:
||Average commission rate
What’s included in NSW real estate agent fees?
Depending on which agencies you choose to use, the rates or commission a real estate agent charges varies. Most of the time the commission will be in addition to the advertising expenses. An average advertising package from a Real Estate varies from $700 to $4,500 (or higher)
What are some common factors that Agents take into consideration when determining your commission amount?
The value, or price of your property
An agent may be prepared to take a smaller cut of the commission simply because the value is higher than the average sale, and at the end of the day, they still get paid an enormous fee for a relatively small amount of work.
The type of property you're selling
If you have a different, or unusual property, a Real Estate agent is likely to charge you a higher fee as there may be a bit more time involved in getting the property sold.
The commission real estate agents charge in NSW varies quite widely depending on where you live. If you live in a metro Sydney area - where there are lots of agents competing for your business - you can expect to be charged a lot less than a regional area postcode.
The supply and demand of agents
When there are a lot of Real Estate agents in a single area, then agents will generally lower their commission rates in order to get the property sold. To get business they are forced to lower their rates. The reverse applies in rural areas, where fewer agents mean there is less competition for listings, which results in higher commissions.
Quality of the agent
How do you know if your Real Estate agent is any good? A good sign is to Look for recent sales of properties similar to yours.
An agent is essentially advertising your house online for you, then taking the phone call from the buyer and contacting you to arrange the inspection. While it may not seem like rocket science, it's always best to have an agent with a good phone manner.