What does it cost to sell a home in NSW?

The biggest cost of selling is the agent’s commission, but it’s not the only one. Here’s everything you’re likely to pay, and when.

Agent’s commission

Commission is a percentage of the sale price, paid from the proceeds at settlement. You only pay it if your home sells. It varies between agencies and homes, so compare it in writing.

Our commission is 2.0% including GST. We put it in writing in the agency agreement before you sign.

Marketing

Marketing is usually paid up front, or at the start of the campaign, whether or not your home sells. It covers photography, floor plans, copy, portal listings on realestate.com.au and Domain, a signboard and social advertising.

For a typical Ellery Park house, budget $6,500 to $8,500. Every item is listed, so you can see where the money goes.

Auctioneer

If you sell at auction, the auctioneer’s fee is usually separate. Ours is $750.

Conveyancing

You’ll need a solicitor or conveyancer to prepare the contract for sale and handle settlement. Fees vary, so get a fixed quote. They’re paid to your conveyancer, not your agent.

Costs people forget

• Discharging your mortgage. Your lender may charge a discharge fee.
• Pre-sale repairs and styling. Optional, but worth planning for.
• Capital gains tax. Usually not payable on your main residence, but check with your accountant if you’ve rented the home out.
• Moving and storage. Easy to underestimate if your settlement and purchase dates don’t line up.

A worked example

For a home that sells for $1,700,000, using our fees (sample figures for this concept):

Get it in writing

Before you sign an agency agreement in NSW, your agent must give you an estimate of the selling price and set out every fee and cost. Read it carefully, ask what each line covers, and don’t sign until you’re comfortable.