As the property boom continues to explode throughout Australia, investors are eyeing up the Queensland market for new opportunities. Plagued by natural disasters and a declining mining sector, the property market in the sunshine state hasn’t always lived up to its potential. But Queensland is now becoming a property powerhouse. Growth in the property market continues to grow in the state’s south east, with the median house price increasing by 0.4%, sitting at $548,918 in December 2017 (Source: Domain Group House Price Report, December 2017).
If you want to compare fees and other information between real estate agents in your local area, you cancompare agents at LocalAgentFinder. Compare information including performance data, homeowner reviews, agency information, fees, commissions and more.
What do real estate agents charge in Queensland
In 2014, Queensland introduced legislation to deregulate commission fees charged by real estate agents. Deregulation means that agents can set their own commission rates and home sellers can negotiate this fee. Before, the commission rate was the same across the state.
The current average real estate commission rate charged across the state of Queensland rests at 2.59%,sitting slightly above capital city Brisbane’s average real estate commission fee of 2.50%.
As deregulation settles into the Queensland property market, stronger trends in real estate agent fees will emerge and paint a picture of agent fee distribution for the year to come.
What to consider when finding the right agent to sell your home
Comparing real estate agent fees against others in your area is now an important aspect of selecting your agent due to deregulation.
An agent based in regional Queensland is likely to charge a different fee compared to an agent based in Brisbane or the Gold Coast.
How much a real estate agent charges shouldn’t be your only concern. The Queensland property market has seen some ups and downs in house and unit prices, so it’s worth finding an agent with experience and expertise in selling your property type in your area.
Low commission rates are an important factor when choosing your agent, but it is crucial to ask an agent what is included in the agent fee. Some agents include services like marketing in their commission rate, while other agents charge extra for these services. Find out more about real estate agent fees and commissions across Australia.
Want to find out what real estate agents are charging in Queensland?
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