Real Estate Commission in Queensland
Tropical paradise, Queensland, is gaining traction in the property market, with house and unit values flying steadily higher, seeing an increase of 4.5% and 2.6% this 12 month period, respectively. Right beside the Great Barrier Reef, Cairns has been slower than expected, as the average days on market have stayed at 164 days in the metropolitan area, just north of the CBD. At the base of Mount Coot-Tha, Queensland’s sea soaked capital, Brisbane, has recorded a median house price of $484 thousand over the past year. Real estate agent commission may decrease in rural areas, like inland town, Longreach, where housing prices have gone up over the 12 month period.
What you need to know about real estate commission in Queensland
Since December 1st 2014, the laws regarding the regulation of real estate agent commission have changed, allowing real estate agents to charge commission at any percentage. The state government has removed the cap on the maximum commission, and the newly deregulated system allows agents to differentiate themselves in the real estate market on the basis of real estate commission as well as the services offered. Rural and regional areas will likely see a rise in commission as a result.
What to consider when finding the right real estate agent to sell your property
- Queensland’s new, unregulated property market means it is even more important to compare different real estate agent’s commission directly, as there aren’t yet established figures.
- Real estate agent commission shouldn’t dictate your decision entirely; units in the vacation destination, the Gold Coast, would be well suited to an agent with an appropriate marketing strategy.
- Agents in rural and regional towns typically charge a higher real estate commission on properties, especially now that the market is unregulated.
Want to find out what real estate agents are charging in Queensland?
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