8 Steps to Selling Property
8. Costs to Consider
In Queensland, there is no standard or recommended commission rate. The agent is required to ensure that commission is clearly expressed and the client fully understands the likely amount and when it is payable.
Agents may choose to express the commission payable in a variety of ways which may include a flat fee commission (irrespective of the sale price); a percentage commission or a combination of the two (i.e. a flat fee up to a certain amount and a percentage thereafter).
The commission payable for a residential sale is generally paid on settlement from the proceeds of the sale. It is advisable for sellers to instruct their solicitors to pay this commission from the proceeds of the sale on settlement.
Selling your property can incur other costs such as for advertising and marketing, a valuation report, building and pest inspection reports, as well as legal and financial fees.