It’s hard to have give an exact average amount when it comes to real estate agent fees in Victoria. It ranges so much from ultra-cheap agents working for one percent or small upfront fees for listing, all the way to the best of the best agents who may charge in range of three percent of the selling price. An industry average for you to work with though is probably somewhere in the middle, around two percent plus GST.
It’s always good to interview multiple agents, so you can get a better idea of what’s up for offer. Though what you’ll find during the process is that your outgoing expenditure to sell your property has less weight than you think when deciding on the agent who will get you the best price. Clients I have known to solely focus on how much they’re paying to sell their house, are usually the ones who unknowingly leave money on the table. They choose the cheapest option and usually the agent that sold them the biggest price and in turn end up having a drawn-out experience, or lack of, and eventually selling their property for below market value. But that’s ok, because they saved a couple of thousand in fees.
As much as you don’t want to spend more than you must, don’t base the sale of your biggest asset on how much you’re going to save. Think about who will be the best person to invest the money into because they are going to get you the best price achievable.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.