Com­mit­ted to a com­mis­sion

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recorded in the sale au­thor­ity you sign.

In some cases the com­mis­sion is a flat per­cent­age fee and in other cases it is a slid­ing scale with the agent re­ceiv­ing a higher per­cent­age the higher the sale price.

Your agent must in­clude a dol­lar fig­ure on the au­thor­ity of sale to pro­vide you with an es­ti­mate of the com­mis­sion you are likely to have to pay.

If you are con­sid­er­ing sell­ing your prop­erty it is ad­vis­able to seek quotes from at least three REIV es­tate agents mem­bers be­fore you make your de­ci­sion. You should base your choice on the en­tire ser­vice of­fered, not just on the com­mis­sion.

Sur­veys con­ducted on be­half of the REIV in­di­cate prospec­tive sell­ers choose their sell­ing agent based on more fac­tors than just the com­mis­sion or es­ti­mated sell­ing price.

Im­por­tant con­sid­er­a­tions are the real es­tate agent’s knowl­edge of the lo­cal mar­ket, the mar­ket­ing plan pro­posed and most im­por­tantly their rep­u­ta­tion. Al­ways ask the agents for re­cent cus­tomers you can con­tact for ref­er­ences of their ser­vice. Enzo Rai­mondo is Real Es­tate In­sti­tute of Vic­to­ria chief ex­ec­u­tive of­fi­cer

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