When it comes to charging fees, there are fees that most people charge, and some that are charged over and above the standard but only by a small group of agents.
These agents would be in the top 5% and the following is a list of their fees.
They compete on service instead of discounting, they don’t take all business that comes their way and in fact – they don’t want the cheap clients that focus on fees!
They focus on profitable business instead.
Above all, they have strong points of difference and a quality team. More importantly, they believe they offer more to owners than the average agency down the road, so they charge accordingly and don’t want to adjust their fees in line with their competitors’ level of service.
The fees you charge are always in line with what you believe you’re worth and to get better fees you must first believe that you’re actually worth it, and they know how to justify them when challenged using scripts and confidence.
When you believe you’re worth it, so will your potential clients!
You’ve just got to believe you are worth it and prove your value. Otherwise, you will just charge the same as your competitors.
Our secret fee shopper has literally phoned hundreds of agencies across Australia in all five capital cities, and the fees listed below represent the best fees we’ve seen based on that data collected, and also what we have seen personally and assisted other agencies to achieve through effective fee maximisation programs.
Are you charging even more than these fees?
Please let us know by email at office@inspiredgrowthtraining.com so we can add this to future lists.
Better fees are just a mindset shift away!
Important to note:
All fees quoted are inclusive of 10% GST (Goods and Services Tax).
These fees are for unfurnished residential properties.
We have not included ‘all-inclusive’ rates that were quoted by some agencies.
The fees listed do not mean one agency charges them all, but instead different agencies are charging these fees. We’ve simply listed the very best fees we’ve seen, fee by fee.
USA Readers- Please note that in Australia we cannot charge tenant fees! Also, rents are paid mostly every week or every couple weeks and our leasing fees (letting fees) are quoted in weeks.
Brisbane
Management Fees – 8.8% to 9.9% of all rents collected
Letting/Leasing Fees – 1.1 weeks rent (now that regulation has been lifted, we want to know if anyone is now doing better than this. We haven’t seen it yet but hope to see it soon!)
Internet Marketing Fees – $200.00 (Sadly still most agents charge nothing for internet marketing)
Lease Renewal Fees – 1.1 weeks rent
Routine Inspection Fees – $38.50 each (very few agents in QLD charge for routine inspections)
Monthly Admin Fees – $8.50
Annual Statement Fees – $30.00 per statement
QCAT Fees – $110.00 flat fee plus costs
Sydney
Management Fees – 8.8% of all rents collected
Letting/Leasing Fees – 2.2 weeks rent
Internet Marketing Fees – $300.00
Lease Renewal Fees – 1.1 weeks rent
Lease Preparation Fees – $55.00
Routine Inspection Fees – $40.00 each
Monthly Admin Fees – $11.50
Annual Statement Fees – $55.00
NCAT Fees – $110 per hour/$260 flat fee plus costs
Melbourne
Management Fees – 8.8% of all rents collected
Letting/Leasing Fees – 2.2 weeks rent / 4.4% of annual rent
Internet Marketing Fees – $520.00 (Melbourne has the highest internet marketing fees overall)
Lease Renewal Fees – 1.1 weeks rent / 2.2% of annual rent
Routine Inspection Fees – $50.00 each
Monthly Admin Fees – $11.00
Annual Statement Fees – $55.00
VCAT Fees – $250.00 flat fee plus costs
Adelaide
Management Fees – 11% of all rents collected in the Adelaide Hills and 9.9% in the metro area
Letting/Leasing Fees – 2.2 weeks rent
Internet Marketing Fees – $295.00
Ingoing Inspection Fees – $150.00
Lease Renewal Fees – 1.1 weeks rent
Routine Inspection Fees – $66.00 each
Monthly Admin Fees – $16.50 (though we are aware of an SA Regional office successfully charging $22.00 for this fee)
Annual Statement Fees – $88.00
Repairs and Maintenance Fees – 10% of all repairs conducted
SACAT Fees – $132 per hour/$165 flat fee plus costs
Perth
Management Fees – 9.9% of all rents collected
Letting/Leasing Fees – 3.3 weeks rent (several in the western suburbs)
Internet Marketing Fees – $380.00
PCR Fees – Initial – Up to $450.00
PCR Fees – Update – $250.00
Vacate/Bond Inspection – $260.00
Lease Renewal Fees – 1.1 weeks rent
Routine Inspection Fees – $110 each
Monthly Admin Fees – $16.50
Annual Statement Fees – $88.00
Court Fees – $110 per hour/$360 flat fee plus costs