If you’re getting ready to sell a property in Victoria, chances are you’ve already discovered the long list of costs that typically come along with it. We’ve compiled the average cost of fees and commissions for real estate agents in Victoria to help make sure you get the best bang for your buck.
Average real estate fees and commissions in Victoria
The real estate agent you choose and where you live in Victoria can make a big difference in how much you’ll need to pay in fees. As a general guide, here’s what you can expect:
Real estate commissions in Victoria
A real estate commission is a percentage of the final sale price that goes to your agent after your home sells. This may be paid in addition to a flat fee that’s agreed upon before your property goes to market and is payable regardless of whether or not your home sells. At Upside, we never charge commission fees (but more on that later!)
If you live in Melbourne, a typical agency commission rate is between 1.6% and 2.5%. In regional areas, you can expect to pay between 2.5% and 3.5% due to property prices being lower on average.
If you really want to cut down on costs, you can choose to manage the entire listing and sales process yourself without employing an agent’s services. Alternatively, there are also fixed-fee agencies (like Upside) that charge an all-inclusive flat fee that stays the same no matter how much the property sells for. Many vendors find this option to be the most cost-effective and hassle-free option in the long run.
Real estate marketing fees in Victoria
Giving yourself the best chance of success at selling your home for a great price means making sure people know about it. Agents will usually put together a full marketing plan including professional photography, copywriting, an online listing, a floor plan, and a signboard outside your property.
In Melbourne, marketing fees can vary in cost between $500 to over $2000 for a 45-day campaign, depending on how much advertising you opt for. A top-tier listing that appears consistently at the top of searches could cost over $2000, while a standard tier could cost around $1500.
In regional areas of Victoria such as Geelong and Ballarat, marketing prices tend to be cheaper at around $300 to $1000.
Traditional real estate agents usually charge for marketing costs in addition to the commission. If you choose a flat fee agency like Upside, all marketing costs are included in the fixed fee.
Home staging fees in Victoria
Showcasing your home in its best light is key to securing the best price when you sell – and that’s where home staging comes in. Although typically not carried out by the real estate agency itself, many agents will be able to organise professional styling of your home to make sure it looks great for inspection days and marketing materials.
To have your home staged in Victoria, you can expect to pay between $2000 and $8000.
Auctioneer’s fees in Victoria
If you’re selling your property by auction, you’ll need to employ the services of a professional auctioneer for the day. Like home staging, real estate agents can usually organise a professional to carry out the auction.
Costs for an auctioneer in Victoria range from around $200 up to $1000.
How does Victoria compare to the rest of Australia?
The cost of selling a home can be very different depending on the area you live in. Typically, real estate commissions in rural areas tend to be higher than in major cities due to the scarcity of housing in more remote regions.
There are also some significant differences in average real estate commissions, fees, and other home-selling costs in each state. For example, real estate commissions in the ACT are some of the highest in the country at an average of 2.5% to 4%, while marketing/listing fees are some of the lowest at between $100 and $800. On the other hand, average real estate commissions in Victoria are relatively low at between 1.6% and 2.5%, while marketing/listing fees are comparably high at between $500 and $2000.
To give you a general idea of how Victoria shapes up to the rest of Australia, we’ve created a chart comparing the cost of selling a home in each Australian state.
|State||Real estate commission||Marketing fees||Lender's fees||Staging fees|
|VIC||1.6% - 2.5%||$500 - $2000||$100 - $1500||$2000 - $8000 depending on the duration and size of the property|
|NSW||1.8% - 2.5%||$600 - $2000||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
|QLD||5% on the first $18,000 then 2.5%||$600 - $2000||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
|WA||2.44% - 3.25%||$400 - $1000||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
|ACT||2.5% - 4%||$100 - $800||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
|SA||2% - 2.75%||$500 - $1000||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
|TAS||~3.25%||$400 - $800||$150 - $1500||$2000 - $8000 depending on the duration and size of the property|
Upside = no commission real estate agents
Here at Upside, we do things a little bit differently than most real estate agents in Victoria. We still have experienced and professional real estate agents, who provide everything you’d expect from a traditional agent. The difference is that we never charge commission – so you know what you can expect to pay right from the start. We charge a flat fee of $7,500 for private treaty and $8,500 for auction, which includes all marketing cost and more.
Find out more about what’s included in our real estate agent services, and book a no-obligation property appraisal to get started.