1. What is REIQ Commission?

The REIQ (Real Estate Institute of Queensland) commission is the fee charged by real estate agents in Queensland for selling a property. It's typically a percentage of the final sale price and is subject to GST.

2. How Commission is Calculated

The standard commission calculation is:

Plus 10% GST on the commission amount: \[ Total\ Payable = Commission + (Commission \times 0.10) \]

3. Typical Commission Rates in QLD

Details: In Queensland, commission rates typically range from 2% to 3% of the sale price, with 2.5% being common. Rates may vary based on:

• Property value (higher-value properties often have lower percentages)
• Location
• Agent experience
• Market conditions

4. Using the Calculator

Tips: Enter the property sale price in AUD and the agreed commission rate (percentage). The calculator will show the commission amount, GST, and total payable.

5. Frequently Asked Questions (FAQ)

Q1: Is commission negotiable in Queensland?
A: Yes, commission rates are always negotiable between the seller and the real estate agent.

Q2: When is commission paid?
A: Commission is paid at settlement, deducted from the sale proceeds.

Q3: Are there additional fees besides commission?
A: There may be marketing fees, administrative costs, or other charges - these should be outlined in the agency agreement.

Q4: Is GST always added to commission?
A: Yes, GST of 10% is added to the commission amount for registered agents.

Q5: How does this compare to other states?
A: Queensland rates are generally similar to other states, though Sydney/Melbourne may have slightly lower average rates due to higher property prices.