How much does it cost to sell a house in WA?
If you need a guide to what fees are involved in selling a house in WA, here’s a detailed look at the average cost of selling a house including real estate agent fees and conveyancing costs.
The costs of selling a house in WA are generally dependent on where you live and the method of sale you choose. These are the foremost costs you need to know.
Real estate agent fees in Western Australia
Real estate agent commission rates aren’t regulated, so it’s possible to receive differing quotes in one area. Some agents quote a higher rate because they include marketing costs in the commission while others charge these separately.
Commission rates are usually based on a fixed or tiered commission structure. Fixed is the most common and is calculated by multiplying the sale price of your home by the commission rate. Tiered commission is an incentive-based structure that rewards agents for selling your home for above the set price.
Average commission in WA
Average real estate commission in WA is around 2.66% of the sale price, higher than the national average of 2% to 2.5%.
Real estate agent commission fees are negotiable and it’s common for sellers to work with their agent towards a mutually acceptable rate.
Conveyancing costs in Western Australia
In WA, conveyancing costs anywhere between $500 and $2,200. The maximum fee payable for conveyancing is set by law in WA which, as a guide, equates to an average fee of around $1,700 for a $500,000 house.
Additional costs when selling property in Western Australia
Auction fees in Western Australia
Private treaty is the most popular method of selling a house in WA but if you’re looking to go to auction, you’ll need to hire a professional auctioneer, costing anywhere between $400 and $1,000.
Advertising is one of the “hidden” costs of selling at auction you should also be aware of. Auctions require extensive marketing campaigns to catch the attention of as many buyers as possible. A $700,000 house can cost between $6,000 and $9,000 to advertise for auction.
Preparing your property for sale is a crucial step in the selling process. Buyers prefer well-presented homes and are more willing to pay top dollar if your house feels ready to move into. Some of the most value-adding preparations you can undertake are minor renovations, repairs, garden maintenance and professional home staging. Minor cosmetic updates can be just as effective as major overhauls and can cost less than $2,000.
A settlement agent is a requirement in WA to transfer the property from buyer to seller. Where a conveyancer reviews the legal documents for a property sale, a settlement agent oversees the exchange of money, and they often work together to ensure a smooth transaction.
Some settlement agents charge fixed fees while others base their rate on the value of the transaction. Fixed fees are typically under $1,000. Settlement agents are required to provide a cost disclosure showing the maximum amount you’ll be charged for their services before you sign up, and must include all commissions, fees, charges and disbursements payable for their services.
On average, marketing costs to sell a house equate to around 0.5% to 1% of the property price. This works out at around $3,750 to $7,500 to advertise a $750,000 home.
Choosing the right agent to sell your house in WA
An experienced agent armed with local knowledge and a strong marketing strategy can be the key to selling quickly and for the highest possible price. Here’s some factors to keep in mind when choosing an agent in WA.
REIWA listed agent
It’s important to ensure your agent is a member of the Real Estate Institute of Western Australia (REIWA). REIWA listed agents are held to a range of professional standards, including a voluntary code of conduct, to protect sellers. They also have access to the latest market data and trends and, on the REIWA platform, can maximise exposure for your property. A REIWA listed agent’s fees are only payable if your house is sold, ensuring their full commitment to the sale.
How to sell your house privately in WA
Selling your house without an agent is legal in WA but can be complex and time consuming. If you choose to sell your house privately, your first step is to engage a solicitor or conveyancer to draw up your contract, also called the Strata Title by Offer and Acceptance (O&A). You’ll need an O&A before advertising your house for sale. You’ll also be responsible for:
- Preparing your house for sale.
- Setting your asking price.
- Advertising your property.
- Open days and inspections.
- Negotiating offers.
- Accepting an offer.
- Settlement (with the help of your solicitor/conveyancer).
While selling privately may save on real estate agent fees, it’s worth considering whether the time and effort outweighs the cost of commission, especially when you risk selling at a less than optimal price.
Keeping track of all these costs and processes can be overwhelming, but OpenAgent's ultimate property guide can help you stay organised and on top of it all.
Factors that can alter the cost of selling a house in Western Australia
How much it costs to sell a house in WA is also influenced by these additional factors:
If you have an unusual property or one that’s only going to appeal to a handful of buyers, your real estate agent has to work harder to sell it. They’re likely to charge a higher commission rate for their efforts.
An agent may accept a lower commission rate for a more expensive property as their portion of the sale will still be worthwhile. Conversely, agents are less likely to budge on their rate when selling lower value homes.
Method of sale (private or auction)
Selling at auction can be more expensive than selling through an agent due to the additional auctioneer’s fees and a larger marketing campaign.
Location of property
Real estate agent commission fees in WA vary in metro and rural locations. For example, in the Perth suburb of Cottesloe, the average real estate commission rate is 2.69% while in remote Port Hedland, the average rate is 2.92%.
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