Commission Formula:
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The commission is the fee real estate agents earn for facilitating property sales. In Queensland (Australia) and Malaysia, this is typically a percentage of the final sale price negotiated between the agent and property owner.
The standard commission formula is:
Where:
Queensland, Australia: Typically 2-3% of sale price + GST. Rates may be tiered (higher % for first $X, lower % thereafter).
Malaysia: Usually 2-2.5% of sale price. Some agents charge higher rates for lower-value properties.
Steps: Enter property sale price, commission rate percentage, select country (Australia-QLD or Malaysia), and click Calculate.
Q1: Is commission negotiable in QLD/Malaysia?
A: Yes, commission rates are always negotiable between the agent and seller.
Q2: Does this include GST (for QLD)?
A: No, GST of 10% is typically added to the commission amount in Australia.
Q3: What's the average commission rate in Malaysia?
A: Most agents charge 2-2.5% for residential properties, sometimes higher for commercial.
Q4: Are there additional fees beyond commission?
A: In both countries, there may be marketing fees or administrative costs - clarify with your agent.
Q5: How is commission paid?
A: Typically deducted from the sale proceeds at settlement by the conveyancer/solicitor.