Planning on selling your home? We mystery-shopped real estate agents to uncover their standard commission fees and reveal how you can hammer out a better deal.
As house prices skyrocket, so has the amount you’ll typically pay a real estate agent. We found agencies charging $10,000 more than others – even for a median-priced house.
But negotiating commission rates can save you money and boost the ultimate sale price. We've calculated standard commission fees charged by major agencies and reveal how you can hammer out a better deal.
Choosing a real estate agent requires a balance between four factors: anticipated or “appraised” sale price; fees; marketing costs; and professionalism. One agent may charge half what another does – but then the second may achieve a higher sale price (they’ll always be quick to assure you they will).
To uncover commission rates and marketing costs, our mystery shopper arranged for property appraisals of a Wellington home from Bayleys, Century 21, Harcourts, Mike Pero, Professionals, Ray White, Tall Poppy, Tommy’s and 200 Square.
We also looked at the commission rates of three major agencies based outside Wellington.