Over the past year, the median house price in Hobart has jumped a whopping 17.3%, sitting at $443,521. (Source: Domain Group House Price Report, December 2017). House prices have surged due to a tourism boom and an increase in investment, including overseas investors.
Homes with lifestyle factors are highly sought-after in Hobart, as most homeowners who live in Tasmania’s capital city reportedly enjoy the lifestyle advantages of prestigious natural environments close by.
What you need to know about real estate agent fees in Hobart
The average commission rate charged in Hobart is over 2.97%, slightly lower than the average real estate agent fee charged in overall Tasmania which sits at 2.98%, which follows a general trend that real estate agent fees tend to be higher in more regional areas.
Sometimes, real estate agents in Tasmania refer to a guide published by the REIT (Real Estate Institute of Tasmania), which outlines a recommended commission rate. However, real estate agent fees are deregulated in Tasmania, which means that agents ultimately set their own rate and home sellers can negotiate this fee. Find out more about real estate agent fees and commissions across Australia.
What to consider when researching real estate agent fees in Hobart
A commission rate is not a strong indicator of a real estate agent’s quality. Consider comparing an agent based on other factors like experience and expertise with your property type.
Real estate agent fees are deregulated in Tasmania, so both you and your agent are able to negotiate a commission fee before signing a contract.
Real estate agent fees vary for a number of reasons, including the location of your home and the property type. To get a good idea of what real estate agent fees charge in your particular situation, compare a number of quotes from agents in your area.
Are you itching to know what agents are charging in your area? You can compare a number of local real estate agents listing their commission fees, experience, expertise and more. LocalAgentFinder is an impartial, online service that has been helping homeowners find and compare agents in their neighbourhoods since 2007.
To determine the average commission by capital city, LocalAgentFinder took the average commission of all active agents in each city respectively on 21 March 2018. This included agents with tiered and fixed commission structures based on a $500,000 selling price.
This article was updated 11th April