Real Estate agents, anyone done the math?

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Rushmere

354 posts

Ultimate Geek

#3235204 27-May-2024 12:28

If you just call an agent's office, they're only ever going to tell you their standard rates.

Unfortunately, you need to go through the full rigmarole to get the real rates. Get an agent in to do a valuation, talk to them about the service they offer, and once they've committed time to your potential sale, then talk to them about what they're willing to do to win your business - in a friendly and polite way of course!

If they're sniffy and say "I don't do discounts" don't be afraid to just tell them that you're going elsewhere. There are definitely better rates to be found with good agents.

David321

485 posts

Ultimate Geek

#3235207 27-May-2024 12:32

Rushmere:

If you just call an agent's office, they're only ever going to tell you their standard rates.

Unfortunately, you need to go through the full rigmarole to get the real rates. Get an agent in to do a valuation, talk to them about the service they offer, and once they've committed time to your potential sale, then talk to them about what they're willing to do to win your business. If they're sniffy and say "I don't do discounts" don't be afraid to just tell them that you're going elsewhere. There are definitely better rates to be found with good agents.

If you get under their skin and play hard ball do think they will do their best to get top dollar for your house, when an extra 10k on the sale price is decent for the seller, but bugger all in terms of the agents cut of the commission?

_David_

Rushmere

354 posts

Ultimate Geek

#3235209 27-May-2024 12:36

David321:

Rushmere:

If you just call an agent's office, they're only ever going to tell you their standard rates.

Unfortunately, you need to go through the full rigmarole to get the real rates. Get an agent in to do a valuation, talk to them about the service they offer, and once they've committed time to your potential sale, then talk to them about what they're willing to do to win your business. If they're sniffy and say "I don't do discounts" don't be afraid to just tell them that you're going elsewhere. There are definitely better rates to be found with good agents.

If you get under their skin and play hard ball do think they will do their best to get top dollar for your house, when an extra 10k on the sale price is decent for the seller, but bugger all in terms of the agents cut of the commission?

Of course, but there are always polite ways of negotiating. It's all about finding a good agent that you trust, and building a working relationship with them. That doesn't mean you can't negotiate.

cruxis

481 posts

Ultimate Geek

#3235212 27-May-2024 12:53

You can list with a real estate agent and continue to do your own legwork and sell privately. Make sure your contract is a open agreement and not exclusive one.

See if your real estate agent can exceed your private offers by a least enough to cover their fee.

cddt

1557 posts

Uber Geek

#3235217 27-May-2024 13:16

alisam:

Barfoot and Thompson: <=300,000 = 3.95%, >300,000 = 2.00%. Zero Admin Fee. GST is applied to all values. So a $1,650,000 house would be $44,677.50.

...

Barfoot and Thompson said they rarely gave discounts and if they did it would be to a company that did a lot of business with them.

Speak to an agent directly. They have to get approval to offer a discount, but they are heavily incentivised to do so.

My referral links: BigPipe | Mercury

Senecio

2712 posts

Uber Geek

ID Verified

Lifetime subscriber

#3235226 27-May-2024 13:30

David321:

Interesting calculator, cant believe Bayleys would charge $30,000 to sell a $620,000 house, makes you wonder why people sign up with them, what extra do they do that Arizto don't that justifies the extra 15k-ish they charge?

This is just Bailey's way of weeding out the houses they don't want to sell. No different from a Tradie that quotes high. They win both ways, they don't take on business that they don't want but if a vendor hasn't done any research then they get paid over the odds.

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