estate agent fees

[Guest the jp's]

Can anyone tell us the going rate for estate agents selling land? We have some land in Perth, W.A that we are considering selling and have been quoted 2% plus GST, a total of 2.2%. Is this the norm, or should we shop around for a more competative rate?

Thanks,

the jp's

[Bobcat]

Can anyone tell us the going rate for estate agents selling land? We have some land in Perth' date=' W.A that we are considering selling and have been quoted 2% plus GST, a total of 2.2%. Is this the norm, or should we shop around for a more competative rate?

Thanks,

the jp's[/quote']

 

That's a decent quote you have been given in today's stagnant market. Most agency fees tend to hover around the 3% mark.

 

Land isn't selling too well at present so you will need to price it right as there is just too much competition on the market, especially so as most developers are chucking in free landscaping and free fencing!

 

I recently moved a block in Iluka which had been on the market with another Agent for quite a while; but a block I have in Carramar I just can't garner any interest at all in it. We did get a cash offer of $365K for it last September which is what the bank valued it at............... as banks are usually conservative we countered at $385K expecting the bloke to come back at $375K which we would have accepted............. but he walked. We would probably have to accept $330K or thereabouts now which is how much the market has dropped. Our block is in Golf Links Drive at Carramar, it's 638m2 with 21m frontage.............. very appealing and in a nice spot but we can't get anyone remotely interested in it. Come the new tax year if i haven;t moved it we'll probably build on it and then sell next tax year?

 

Whereabouts is your block, what size are we talking............ and how much are you after?