Real Estate Agent Fees in Perth
The property market in Perth has stagnated over the last year, following a receding mining sector. But, there is hope that low interest rates could stimulate and bolster the capital city’s housing sector and set the city on the road to recovery.
House prices in Perth have suffered the most out of all capital cities in Australia; while the median house sale price remains high at $599,574, the median sale value has actually gone down by 2.8% on the previous year. This puts the city behind eastern state property powerhouses, Sydney and Melbourne that are in the midst of property booms.
However, lower house prices often come with an added tag of affordability. LocalAgentFinder research finds that 78% of Perth agents don’t believe that the property market is unaffordable for first time buyers in their areas; so while house prices are going down, low interest rates mean that affordability and lower entry barriers for the market could see improvements for Perth in the year to come.
What you need to know about real estate agent fees in Perth
The average real estate agent fee for Perth is much lower than the overall West Australian average commission rate. Whereas agents in Perth city tend to charge averages between 2.25% to 2.75%, agent fees in regional WA can spike to reach over 3%.
It is a general trend that lower commission rates occur in more populous areas with higher property prices, larger numbers of active real estate agents, and added lifestyle benefits like good shopping districts and schools.
Suburbs closest to Perth CBD showed some of the lowest average real estate agent fees in the capital city over last year, with average commission rates that ranged between 2% to 2.25%; inner metro Mount Lawley and Morley are among those suburbs, as well as seaside Scarborough.
Perth areas that tend to attract higher average real estate agent fees are those south of the Swan River; these are outer metro regions with fewer competing real estate agents in operation and a lower population density. However, this could be set to change the year to come, with many suburbs in Perth’s southern regions, like Champion Lakes and Piara Waters, demonstrating good capital growth in the last year. Find out more about real estate agent fees and commissions across Australia.
What to consider when researching real estate agent fees in Perth
- As the West Australian economy is recovering and the property market is sluggish, it is important to select a real estate agent based on more than just the fee; compare agents on factors such as marketing and a good track record for selling similar properties.
- Real estate agent fees in Perth are deregulated, which means real estate agents and homeowners negotiate a commission rate that they believe is suitable.
- Different suburbs in Perth attract varied commission rates, but agent fees can also depend on factors such as your property type, your specific location. To get a better estimate of agent fees for your property, compare quotes from a number of local agents.
Curious about real estate agent fees in your neighbourhood? LocalAgentFinder is an impartial, online comparison service that helps you compare local agents so you can find the one that’s right for you.
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