5 things to know before paying a property agent's commission

Yet, it can also be challenging and complicated for some. To smoothen the process, you can engage a property agent to facilitate the property transaction.1. The rate is negotiable.

Your property agent may propose a market rate , but feel free to negotiate it with your agent to ensure it suits your budget.The most basic factor is the scope of work. If, for example, you only require your property agent to do paperwork, you can negotiate for a lower commission. If you expect your agent to provide the full suite of services, then you can expect to pay a higher rate.

All agents' completed residential property transactions for the past 24 months are available on the respective agent's profile page in the State the commission rate clearly in the CEA Prescribed Estate Agency Agreement that should be signed between your property agency and you to formalise the relationship, before your agent starts to work on the transaction.There is no avoiding this, unfortunately. If the property agency that your agent works for is GST-registered, you must pay the prevailing GST rate. Check this with your agent upfront.

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