The median house price in Canberra sat at $753,516 in December 2017, increasing by 8.4% since the previous year. (Source: Domain Group House Price Report, December 2017).
What do real estate agents charge in ACT?
The average real estate agent fee varies across the ACT, but it can be revealed that the average commission rate sits at 2.21%. The average commission rate tends to be higher in districts south of Canberra CBD, such as Woden Valley and Weston Creek at 2.6%.
Real estate agent fees in ACT are deregulated which means real estate agents can set their own commission rates, but these fees are usually guided by ‘supply and demand’ of the free market. Agents in rural areas of ACT usually charge a higher fee than agents in metro Canberra, simply because there is less market activity and less competition when selling a home. As prices tend to increase closer to city areas, agents also charge a lesser commission on properties with these high price tags.
What to consider when finding the right agent to sell your home
Real estate agent fees don’t fluctuate greatly in ACT, so it is important to compare agents on other factors like experience and expertise in selling your property type when selling your home.
Ask an agent what services are included in the commission rate, as some agents don’t include marketing fees and may charge extra.
Want to find out what real estate agents are charging in your area?
To determine the average commission by state, LocalAgentFinder took the average commission of all active agents in each state respectively on 21 March 2018.
This included agents with tiered and fixed commission structures based on a $500,000 selling price. The same method was applied to calculate the average commission in capital cities.
This article was updated on 10th April 2018