Let's start with how agents charge commissions in Canberra. Like the rest of the
, real estate agent fees are deregulated. A deregulated fee and commission structure mean that agents set their fees based on a few driving factors:
Market demand in Canberra is higher compared to the ACT's regional towns. In metropolitan areas, because there's a high demand and greater competition between real estate agents, they typically charge a lower commission rate. Whereas in regional areas, there are fewer servicing real estate agents, decreased competition and lower selling prices, so a higher commission rate is usually the norm.
Location and property type
Real estate agent fees can vary dramatically depending on location and property type. If you're selling an unusual or expensive property, expect a higher commission to compensate for the extra time and effort involved in the selling process. It's always worthwhile comparing what local agents charge in your property market via LocalAgentFinder. Comparing agents will help you understand the varying factors contributing to a difference in commissions and fees.
A newer versus an experienced real estate agent
You may find that newer agents in Canberra may have a lower commission rate compared to experienced agents, as they may still need to gain more real estate, sales experience and market knowledge. Before deciding on the right real estate agent for you, do your research via LocalAgentFinder to find a quality agent that ticks these boxes: has experience selling similar properties, has comprehensive knowledge of the local property market and offers a reasonable commission.
Commissions and real estate fees in Canberra are typically less than in the rest of the state, and that's good news for home sellers. However, it's also important to consider how we define what is charged under these terms, as agents will usually allocate different costs under the term “commission” and “fee”.
For example, the term commission usually refers to the percentage allocation of the total cost of the property sold. However, fees are sometimes charged a little bit differently. Marketing and advertising costs typically sit under the term "fee", so it's important to define how much you are willing to pay for both the agent's commission and fees as separate values.
Real estate agents in Canberra are aware of the competition in the market and so are usually willing to negotiate fees and commission rates with homeowners to win your business.