Real Estate Commission inVictoria
Victoria has been building upon its already unprecedented growth in the property market, with an upward trend of 7.4% across the state over the last 12 months. Melbourne house prices have risen by 6.6% over the year ending March, with units increasing by 2.7 per cent. Horsham, near natural landmark the Grampians, is performing well with an average of 72 days on market. The urban and lively Geelong CBD has reached record high sales of $3.4 million over the year, where real estate commission has stayed relatively low. The alpine resorts in the state’s north east have also been enticing buyers in nearby town, Bright, with 81 properties sold in the last year.
What you need to know about real estate commission in Victoria
The entire state of Victoria has unregulated real estate agent commission, meaning that areas like the historical gold rush town of Bendigo will likely see higher commission than the Melbourne average, due to lower property prices and fewer competing real estate agents. Similarly, real estate commission in inner-city Melbourne suburbs, like units in the southern metropolitan Eureka Tower, will notice lower fees, accounted for by high property prices and a competitive market.
Here’s how the average VIC commission rate compares to the rest of Australia:
|State||Ave. Commission Rate|
Real estate agent commission data sourced from LocalAgentFinder on 3rd December 2018.
What to consider when finding the right real estate agent to sell your property
- Never choose an agent by their real estate commission alone; more urban neighbourhoods, like beach side Frankston in Victoria’s south, may benefit greatly from an agent who has an extensive knowledge of the area.
- Rural or regional towns, like the vineyard laced wineries of Kyneton, will tend to attract higher than average real estate agent commission.
- It’s important to compare agents in your area to find out the average real estate commission.
Want to find out what real estate agents are charging in Victoria?
The easiest way to compare real estate agent commission is with AgentsCompare. It’s a 100% free, no obligations online service, giving you extensive information about agents in your neighbourhood, including their fees, services and experience. To get started, register your property now, and request free, online quotes from agents in your area, to find the real estate agent that’s right for you.
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