- Essential fees can be in the order of $2.000 to $4,000
- Highly variable costs include marketing
- Agent fees are typically two to three per cent
Have you ever thought about the cost of selling a house? While house prices rise and auction activity picks up, you may be inclined to cash in, but how much are you really making?
In this guide, we take a brief look into the costs of selling a house and what factors can impact the fees when selling a house.
Cost of selling a house: at a glance
Prices pivot around several factors, from real estate sellers’ fees, to taxes, marketing, and more.
House seller fees will typically see two to three per cent of the selling price go to the agent. In rough terms, a million-dollar house will see an agent take a $30,000 cut.
Taxes, government fees, and the like will add to the cost of selling a house, with the marketing and other add-ons typically seeing the largest variation in prices.
| State/Territory | Agent’s Commission | Marketing & Advertising | Conveyancing Fees | Government Fees | Other Costs |
|---|---|---|---|---|---|
| Western Australia (WA) | 2% – 3% of sale price | Varies | $800 – $1,200 | $250 – $300 | Property styling, professional photography, building inspections, etc. |
| Northern Territory (NT) | 2% – 3% of sale price | Varies | $1,500 – $2,500 | Variable | Property valuation fees, property preparation expenses, etc. |
| South Australia (SA) | 1.5% – 3% of sale price | Varies | $1,000 – $1,500 | $200 – $300 | Property styling, professional photography, inspection fees, etc. |
| Queensland (QLD) | 2% – 3% of sale price | Varies | $800 – $1,500 | $200 – $400 | Property staging, photography, building and pest inspections, etc. |
| New South Wales (NSW) | 1.5% – 3% of sale price | Varies | $1,500 – $2,500 | $200 – $500 | Property styling, professional photography, inspection fees, etc. |
| Victoria (VIC) | 1.6% – 2.5% of sale price | Varies | $1,500 – $3,000 | $300 – $1,000 | Property staging, photography, building and pest inspections, etc. |
| Tasmania (TAS) | 2% – 3% of sale price | Varies | Variable | Variable | Variable |
The cost of selling a house in NSW could see you pay in the order of over $3,000 in various fees, before other costs such as commission, marketing, and other options that may help sell your home faster or for more, such as property styling, photography, pest inspections, and other repair work.
Similarly, the cost of selling a house in VIC may see various fees add up to around $4,000, before other costs.
The cost of marketing a house
Making sure your home is seen and desired by the masses can vary on both your budget and your preferred outcome.
Costs can include a variety of advertising avenues, from what is now the bog-standard online listing on sites like realestate.com.au and Domain, to old-school print advertising.
Among other costs:
- Signage and borchures,
- Professional photography,
- 3D mapping, virtual tours, and virtual reality,
- Professional styling and staging,
- Video production and marketing, and
- Social media advertising.
| Marketing & Advertising | Estimated Cost Range |
|---|---|
| Online Listings | Few hundred dollars to a few thousand dollars |
| Print Advertising | $100 to $1,000 or more (depending on size and duration) |
| Signage and Brochures | Signage: $500 to $1,500; Brochures: $200 to $1,000 or more |
| Professional Photography and Virtual Tours | Photography: $300 to $1,000 or more; Virtual Tours: $500 to $2,000 or more |
| Property Styling | $1,500 to $5,000 or more |
| Video Production | $500 to $2,000 or more |
| Social Media Advertising | $50 to $500 per day (varies based on campaign) |
Online marketing sees such substantial variations due to the ironically simple fact that it is complicated, yet full of opportunities.
Some of the most basic online listing packages can start in the hundreds, with premium offerings that include enhanced visibility, and more, can see prices rise into the thousands.
Targeted advertising is also a powerful tool in ensuring the property is seen by the ‘right’ people.
| Marketing & Advertising | Estimated Cost Range |
|---|---|
| Online Listings | Basic listings: $500 – $1,000+ |
| Enhanced or premium listings: $1,000 – $5,000+ | |
| Featured Listings | Additional cost: Varies |
| Price range: $500 – $2,500+ | |
| Targeted Advertising | Additional cost: Varies |
| Pricing variations: Contact platform for details | |
| Additional Promotional Tools | Virtual tours: $500 – $2,000+ |
| Floor plans: Starting from $100+ | |
| Video content: $500 – $5,000+ |
Surprise costs of selling a house
There is a range of potential additional costs that come with selling a house that you may not immediately expect. While some are arguably not necessary, that is up to the seller to decide whether it is worth the investment.
If your house is a little tired and run down, it may need a fresh coat of paint, some new tiles, a new fence, a colourbond fence, kitchen spruce up, new bathroom, garage, skylight, roof, colourbond roof, flooring, air conditioning, and more.
All the guides are linked above.
You might also consider a pre-sale inspection to identify any issues or potential issues, or get a professional valuation or appraisal.
Among other fees, you may have to pay a mortgage discharge fee, depending on your circumstance.
Capital Gains Tax (CGT) may come into the equation too.
Finally, you will definitely be moving house after selling up, so you will need to consider the cost of moving house.
| Cost Description | Estimated Cost Range |
|---|---|
| Home Repairs and Maintenance | Varies based on the extent of work required |
| Pre-sale Inspection | $300 – $1,000+ (depending on property size) |
| Professional Valuation or Appraisal | $300 – $1,500+ (depending on property size) |
| Conveyancing and Legal Fees | $800 – $2,500+ (depending on service provider and complexity) |
| Mortgage Discharge Fee | Varies depending on the lender and mortgage terms |
| Capital Gains Tax (CGT) | Varies based on individual circumstances |
| Moving and Storage Costs | Varies based on distance and volume of belongings |
Saving money when house selling
As always, you can shop around for the various services, agents, and other professionals you need to call upon. If you have the option, start the process early to ensure you have more time to compare prices.
You can also save on some of the ‘nice to have’ options such as home staging and photography. If you’re a deft hand at aesthetics, this is another place you can save.
Timing can also help in various ways, from more competition in the market, to things like ‘seasons’ which see some services in high demand, therefore potentially driving fees higher.
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