As the property boom continues to explode throughout Australia, investors are eyeing up the Queensland market for new opportunities. Plagued by natural disasters and a declining mining sector, the property market in the sunshine state hasn’t lived up to it’s potential, but Queensland is set to become a property powerhouse. Growth in the property market is expected in Queensland’s southeast.
With the average house price for the state sitting at $491,700 (Source: ABS), one of the lowest in Australia, Queensland has been earmarked as a state with good investor potential. The median house price in the capital city Brisbane sits at $550,000, and is expected to grow by 7% by 2020. However, the median unit price sits at $425,000 and is expected to drop 7% by 2020. (Source: BIS Oxford Economics)
If you want to compare fees and other information between real estate agents in your local area, you can compare agents at LocalAgentFinder. Compare information including performance data, homeowner reviews, agency information, fees, commissions and more.
What do real estate agents charge in Queensland?
In 2014, Queensland introduced legislation to deregulate commission fees charged by real estate agents. Deregulation means that agents can set their own commission rates and home sellers can negotiate this fee. Before, the commission rate was the same across the state.
The current average real estate commission rate charged across the state of Queensland rests at 2.60%, sitting slightly above Brisbane’s average real estate commission fee of 2.53.
As deregulation settles into the Queensland property market, stronger trends in real estate agent fees will emerge and paint a picture of agent fee distribution for the year to come.
What to consider when finding the right agent to sell your home
- Comparing real estate agent fees against others in your area is now an important aspect of selecting your agent due to deregulation.
- An agent based in regional Queensland is likely to charge a different fee compared to an agent based in Brisbane or the Gold Coast.
- How much a real estate agent charges shouldn’t be your only concern. The Queensland property market has seen some ups and downs in house and unit prices, so it’s worth finding an agent with experience and expertise in selling your property type in your area.
- Low commission rates are an important factor when choosing your agent, but it is crucial to ask an agent what is included in the agent fee. Some agents include services like marketing in their commission rate, while other agents charge extra for these services. Find out more about real estate agent fees and commissions across Australia.
Want to find out what real estate agents are charging in Queensland?
A great way to discover average commission rates from agents in your neighbourhood is by comparing fees from a wide range of local agents. With LocalAgentFinder, you can compare fee and service information from local agents in a matter of minutes. Get started now!
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To determine the average commission by state, LocalAgentFinder took the average commission of all active agents in each state respectively on 5 June 2017. This included agents with tiered and fixed commission structures based on a $500,000 selling price. The same method was applied to calculate the average commission in capital cities.
This article was updated on 28 June 2017.