Real Estate Fees in New South Wales
The tremendous gains in property prices around NSW are well known, with median house prices at $566 thousand across the state, and statistics suggesting they are likely to continue. Property value increases in the state’s capital, Sydney, are without peer in Australia, with annual house prices shooting up by 19% and units going up by 6% over the last 12 month period. These numbers suggest that real estate agent fees may drop slightly in Sydney, as prices go up. Regional inland town, Tamworth, which hosts the renowned Tamworth Country Music Festival, has $725 thousand recorded as the highest price paid within the town over the past year, which indicates a likelihood of higher real estate fees.
What you need to know about real estate fees in NSW
The real estate fees in NSW are unregulated by the government, allowing agents in rural and regional areas, like Tibooburra, next to Sturt National Park in the state’s north west, to charge a higher real estate fee. This is due to comparatively low property prices and fewer competing agents in the region. In the wealthier, river-run city of Newcastle on the eastern coast, agent fees are typically lower, thanks to greater competition among agents and higher property prices.
Here’s how the average NSW commission fee 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
- It’s very important to compare agents, as this is the best way to find the average real estate fee in your neighbourhood.
- Real estate agent fees are not the only thing to consider, however; an agent in inland Carrai may be invaluable if they have a knowledge of the surrounding national parks, using them to your advantage.
- Metropolitan Sydney will attract lower real estate fees than rural or regional towns, generally, because of the higher property prices and greater agent numbers.
Want to find out what real estate agents are charging in Sydney?
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