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Commission Formula:
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This calculator helps estimate real estate agent commissions for property sales in Queensland, Australia. It calculates the base commission amount plus GST (10%) which is typically payable on real estate commissions in Australia.
The calculator uses the standard commission formula:
Where:
Additional Calculations: The calculator also adds 10% GST to the commission amount, as this is required by Australian tax law.
Details: In Queensland, real estate commissions are negotiable between the seller and agent. Typical rates range from 2.45% to 2.72% of the sale price, plus GST. Some agents may charge a tiered rate that decreases as the sale price increases.
Tips: Enter the property sale price in AUD and the agreed commission rate as a percentage. The calculator will show the commission amount, GST (10%), and total payable.
Q1: What is the typical commission rate in Queensland?
A: Rates typically range from 2.45% to 2.72% but are always negotiable. Higher-value properties may attract lower percentage rates.
Q2: Is GST always added to commissions?
A: Yes, in Australia, GST of 10% is payable on real estate commissions unless the agent is GST-exempt (very rare).
Q3: Are there other fees besides commission?
A: There may be additional marketing costs, administrative fees, or auctioneer fees. These should be outlined in your agreement with the agent.
Q4: Can I negotiate the commission rate?
A: Yes, commission rates are always negotiable in Queensland. It's recommended to compare rates from multiple agents.
Q5: When is the commission payable?
A: Commission is typically payable at settlement, deducted from the sale proceeds before the balance is paid to the seller.