The property market in the Northern Territory was a slow performer over the last year despite interest rate cuts. The median sale price for homes in Darwin decreased by 3% over the last 12 months with the median sale prices sitting at $645,970 for the year. Optimists reason that decreasing median sale values for homes in Darwin, and the Northern territory at large, will increase affordability and push up investment.
The Northern Territory is shaping up to be a buyer’s market in the year to come, especially if housing continues along a path of affordability. Properties that are hot in the property market at the moment are those with good development potential and value-adding lifestyle benefits like proximity to schools and shopping districts.
What do real estate agents charge in the Northern Territory?
The average real estate agent fee ranges between 2.5% to 4% in the Northern Territory. While this figure is lower in the urban regions of Darwin and Alice Springs, the average fee is higher towards more regional areas of the territory.
The Northern Territory is a deregulated state, which means that real estate agents establish their own fees and home sellers can negotiate the commission rate when it comes to selling their home. It’s not necessarily true that the agents that charge higher commission fees are better or that agents that set a lower real estate agent fee are worse; many other factors like experience and expertise can determine whether an agent is right for you. For the best results, compare agents based on criteria that is important to you.
What to consider when finding the right agent to sell your home.
- Selecting an agent with experience in your local property market might be more beneficial than choosing an agent based on a lower commission fee; as the Northern Territory market has slowed down in the past year an agent who knows how to sell your property will be worth his or her salt.
- Compare a number of agents that practice in your area to get a good idea of what agents are charging on average. Remember agents in rural NT will probably charge more on average than city-based agents.
- It’s also important to remember that an agent may or may not include services such as marketing in the commission fee, so ask what’s included in your commission before signing a contact.
Want to find out what real estate agents are charging in NT?
Comparing local agents is a great way to discover the average agent fee charged in your local area. Find out more about real estate agent fees and commissions across Australia. LocalAgentFinder is a 100% free, no obligation service that helps you compare and select real estate agents in your neighbourhood, so you can find the agent that suits you and your property. Compare agent fee and service information online in a matter of minutes!