Tasmania has a population of approximately half a million people, with the majority living in Hobart, Launceston, Devonport, Burnie and Ulverstone. However, over the past couple of years, tourism and investment have surged in Hobart. The median house price has increased by a whopping 17.3% over the last year (Source: Domain Group House Price Report)
What do real estate agents charge in South Australia? What do real estate agents charge in Tasmania?
The smallest state in Australia in terms of size and population, Tasmania exhibits the highest average real estate commission fee across all states and territories. The average real estate agent fee across Tasmania sits at 2.98%. In the capital city Hobart, the average commission rate is just under the state average at2.97%.
Real estate agent fees are deregulated in Tasmania meaning that agents usually set fees based on market demand; high market demand often results in more competition among agents and lower commission rates. However, lower market activity and fewer agents operating in an area often result in higher commission rates, which is what we can see taking place in Tasmania.
When deciding on a commission fee, some agents choose to use a guide of Recommended Scale of Fees and Commissions by the REIT (Real Estate Institute of Tasmania). This guide can be used by real estate agents and recommends agent fees for residential property sales.
What to consider when finding the right agent to sell your home
Real estate agent fees don’t fluctuate greatly in Tasmania, 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 certain services like marketing in the commission fee.
Want to find out what real estate agents are charging in Tasmania?
Comparing local agents’ information is a great way to discover the average agent fee charged in your local area. If you’re thinking about selling your property, you can compare real estate agents at LocalAgentFinder, including performance data, homeowner reviews, agency information, fees, commissions and more. Find out more about real estate agent fees and commissions across Australia.
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 11th April 2018