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Home › Real Estate Agent Fees › Costs To Sell A Property in Sydney [2024 Update + Calculator]
The costs of selling a property in Sydney are substantial and cannot be determined by one figure alone, especially as there are so many variances which come into play.
So, what costs are involved in selling a house? This guide will take you through the many different primary costs of selling a house.
While some of the typical costs such as auctioneer’s fees, home improvements, repairs and home staging expenses may not be entirely necessary, it is worth having money set aside for these added extras in case you decide to go down that route. A small investment, particularly regarding repairs and professional styling, could reap huge rewards.
Spending money to prepare and market a property is only a worthwhile investment if you engage a top real estate agent to maximise your return on this investment.
Our free comparison service will show you exactly who the best real estate agents suited to sell your property are. Agents are very happy to discuss marketing and advertising cost structures, so don’t be shy.
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The costs of selling in a property in Sydney are:
NSW has the second lowest real estate agent commission rate in the country. Real estate commissions in Sydney and other metropolitan areas average 1.8% to 2.5%. Regional properties can expect to pay anywhere from 2.5% to 3.5%. We can give you information on local commission rates and get you in contact with top agents.
Total Agent Commission
Want to know more about fee inclusions, the market or agents in Sydney? We’ve compiled a guide on agents in Sydney.
You should budget anywhere from $700 to $1,300 for your conveyancer or solicitor fees depending on the services on offer.
As soon as the house is sold, the title of the house must be transferred from one owner to another. This is done with the assistance of a conveyancer or solicitor.
Relative to how prominently you want your ads promoted, advertising a Sydney property online using a top real estate information destination costs anywhere from $600 for the lowest ‘Feature’ tier to nearly $2000 for the ‘Premiere’ tier for 45 days. In other New South Wales areas outside of Sydney like Wollongong and Newcastle, the online advertising fees range from $300 to over $1000.
Insiders tip: search your suburb in realestate.com.au to see what type of ad other sellers are using, and then base your selection, so your property has equal / greater prominence than theirs.
Mortgage discharge fees vary considerably depending on the type of loan you have with your bank or building society. Although your bank will be able to shed more light on the exact figure, you can budget for approximately $150 to $1,000.
Capital Gains Tax may not be relevant if the property you are selling is your home. Visit the ATO website to learn more.
Renovations and repairs will depend on the age and the condition of your house. It is worth considering if you envisage some minor repairs could speed up the sale of your property.
If you intend to sell your house by auction, the cost of an auctioneer will be between $200 and $1,000.
If your furniture has seen better days, then it may be worth hiring a professional. Home staging expenses in NSW can cost as little as $2,000 up to $8,000.
Allocate between $500 and $3000 if you need to hire the professionals to help you move to your next house.
By now you should have a good idea of what you should expect when you’re looking to sell your property. To get a final figure, just use our costs of selling calculator below, which will let you tally up a total estimated cost of selling and see where you could save money.
The above prices are a general guide to inform you how much it is going to cost you to sell a home in Sydney. This information is particularly helpful if you are a first-time buyer, so you have a better idea of your budget. Exactly how much it will cost to sell your house will be determined by chosen method of sale, agent and location.
Remember that it might not be in your best interests to opt for budget marketing plans or commission fees. Selling your house can be one of those times where you get what you pay for – agents might not work as hard for you if you’re paying them a lower commission rate for example. At Which Real Estate Agent, we can help you find agent commissions and top-performing agents – we do all the research for you.
The common costs in selling a property are; real estate agent fees and commissions, conveyancer or solicitor fees, marketing costs, mortgage discharge fees, capital gains tax, auctioneer costs and moving costs.
Commission rates for real estate agents vary state-to-state but generally agents will be paid 1-4% of the selling price as per their commission rate.
Real estate agencies will generally print brochures & signage as part of the marketing costs. Marketing costs will normally include digital marketing on sites like realestate.com or domain as well.
Costs Of Selling A Property – By City/State + Calculator [2024 Update]
Costs To Sell A Property in Brisbane [2024 Update + Calculator]
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