Real Estate Agents In Canberra


Looking for a real estate agent in Canberra? We’ve listed the top agencies and agents in Canberra below, plus some important agent statistics and market updates to keep you informed before you sell.

For most people your home represents your largest asset, and maximising its sale price can be the difference between heading off on a round-the-world cruise vs. another holiday staying with the in-laws!

When looking to start the process of selling your property, it’s important to find an experienced real estate agent who has local property knowledge that will let them negotiate with buyers and market your property effectively. With almost 700 agents working in Canberra, it might be hard knowing where to begin.

Not only is agent selection important, but so is knowing the current market in Canberra. We’ve looked at the most important property market stats to give you a quick overview on the market in Canberra.

To get an expert opinion on what’s happening in your suburb and to compare and connect with your top local agents – click here.

Agents In Canberra

705

(April 2019)

Properties For Sale

2,481

(April 2019)

Change in Number Sold

+0.0%

(Year to April 2019)

Real Estate Agencies In Canberra

There are over 200 agencies currently operating in Canberra, including everything from well-known franchise brands to lesser-known independent agencies. Local experience and service offerings can vary between agencies dramatically. To increase your changes of getting an agent suited for selling your property, it is important to speak with agents from 2 or 3 agencies to understand the differences in their experience, services and cost.

Below is our list of the top-selling agencies located in Canberra. To generate this ranking, we looked at the total value of sales conducted by each agency over the past 12 months. This doesn’t mean they’re the best! To see who is experienced in your area, click here.

Best Real Estate Agents In Canberra

Individual agent performance within an agency can vary significantly. Most agents have a core focus (e.g. units within a certain area) and even if you are set on the agency you would like to use, it’s just as important to ensure that you select the individual agent that is most-suited to sell your property.

Some things to keep in mind: the agent should be focused on selling property in your area, experienced at selling property similar to yours, have a track record of successful negotiations and have character traits that work well with you and prospective buyers.

Below is a list of the top-selling individual agents located in Canberra. To generate this ranking, we examined volume of sales conducted in the 2018 calendar year by each individual agent.

To start to create your shortlist of top agents in your area, click here.

Agent Performance Statistics

There are lots of articles out there claiming to have the most up-to-date information on the performance of the property market in Canberra – and the general consensus can even change daily. As a smaller market, Canberra can sometimes be overlooked.

We’ve found that there are 2 key metrics that provide a clear picture on the state of the market in Canberra.  They are:

  1. How long it is taking for them to sell (days on market) and,
  2. What level of discounting is required to secure a sale.

Current CoreLogic data on these areas is outlined below and compares Canberra with the rest of the country.

Days on Market

The time it takes to sell a property is increasing as transaction volumes fall with fewer active buyers in the market. In February 2019, properties in Canberra were spending 50 days on average on the market. A year prior in 2018, properties would typically spend only 39 days on market instead.

Corelogic – Property market chart pack  Median vendor discount Feb-18 vs Feb-19  

Vendor Discounting

This is how much the vendor has to discount to secure a sale. Canberra has the lowest discount rates in the nation. In February 2019, properties in Canberra were generally discounted by around 2.7% before selling. In contrast, a 2.3% discount was required in February 2018 for a sale.

Corelogic – Property market chart pack  Median vendor discount Feb-18 vs Feb-19  

Property Market Trends – Canberra

We believe that selecting  an agent inexperienced at selling property like yours can cost you a significant amount. Unsuccessful sales usually mean extra marketing costs, another auctioneer or time spent finding another agent.  However, we admit that there are some things that an agent can’t control.

Depending on your circumstances, market forces may affect how you sell your property. Get an idea of the most important ones below.

We’ve looked through CoreLogic’s data, one of Australia’s leading property data providers, to give you these property market data insights.

CoreLogic Index Price Changes

Source: CoreLogic, updated daily, 18th September 2019

CoreLogic also produce monthly update videos on the Australian property market. We’ve placed the latest video on the national housing market below.

Real Estate Agent Fees Canberra

When you’ve decided on your agent and understand the market you’re about to sell into, the next question on most people’s minds is, “how much will it cost to sell my property?”

The main costs when selling a property in Canberra are:

  1. Marketing Costs: advertising fees are usually paid up-front, but it can be negotiable based on your personal situation. Just to advertise your property online, expect to pay $10000 at the cheapest and $400-$800+ for premium advertising tiers, which involve extra photo slots and larger ads. Don’t forget that online advertising is just one part of marketing your property. Remember to factor in fees for the auctioneer, newspapers, photography and even the signboard out front.
  2. Agent Commission: this is finalised at the time of agent appointment and paid upon settlement. Agent fees generally range between 2.5% to 4%, depending on location, property value and commission structure.  If you would like to see average fees per postcode, look here.
  3. Conveyancing/Solicitor fees: conveyancers prepare the contract for sale and manage the settlement process. Conveyancing fees in Canberra usually range between $700 to $1300. The final amount will depend on whether you hire a conveyancer or solicitor, and if they have to conduct additional searches.

We are believers in ‘you get what you pay for’. If you skimp on marketing, fewer people will see your property and it will be harder for the agent to create competition amongst buyers. This will likely lead to a disappointing result when offers start coming in or at bidding time.

As for the commission, we certainly agree that you should negotiate, and talking to two or three agents will help you understand what is reasonable commission to pay for the sale of your home.

One question to ask yourself though,

“Can you be confident that the agent who dropped their commission to secure your listing will be best-equipped to negotiate seriously with the buyer?”

For further information see our article on fees and commissions in the ACT here.

Real Estate In Canberra

Canberra is the capital city of Australia, situated within the Australian Capital Territory. Despite its status as the capital of Australia, it is the newest capital city in the nation by far, only having been established in 1913. It is situated between state capitals Melbourne and Sydney.

As a planned city that houses a great deal of Australia’s public servants, Canberra’s real estate situation is unique. High local income levels and restrictive development regulations have combined to create an environment of high demand and prices to match.

Lake Burley Griffin, a dammed section of the Molonglo river, divides the CBD into North Canberra and South Canberra. There are seven residential districts or areas in Canberra, each settled at different times in the city’s history, though they were only formally defined in 1966 with the exception of the newest district, Molonglo in 2010.

Of these districts, Canberra Central is the most expensive for real estate. Its north and south side suburbs are adjacent to or contain the CBD, making them some of the oldest in Canberra and the target of investors and high-income earners. Notable suburbs in these areas include Forrest, Yarralumla and Griffith, where the median prices are comfortably over a million dollars.

Canberra’s real estate market is small, but its particular situation and unique market make it very important when it comes to agent selection. Get some local and experienced to make sure they know their demographics, marketing and area to maximise your property sales price. Start by comparing agents here.

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