Are you looking to learn how much it costs to sell a house in QLD?
Selling a property involves various expenses that can significantly impact how much you’ll pay by the time your house has sold.
Not preparing and budgeting for these can result in significant financial setbacks if you are relying on the capital of the sale in the short term.
At Harcourts Caloundra, we have over a decade of experience in the local real estate market and have a broad knowledge of the costs and other factors that can affect the final price.
Keep reading to find out the cost of selling a house in QLD to help prepare you for a successful and stress-free sale.
Key Costs Involved in Selling a House in QLD
Agent's Commission
One of the primary costs in the sale of your property is the real estate agent’s commission.
This is typically a percentage of the sale price and varies based on several factors, including the property’s location, the current market, and the services provided by the agent.
In Queensland, the average commission in metro areas is between 2 – 2.5% while in regional areas it ranges on average between 2.5 – 3.5%.
It’s important to remember that the cheapest option isn’t always the best.
When selecting a real estate agent, consider their local market knowledge, marketing expertise, and negotiation skills.
These factors can significantly influence the outcome of your sale which can offset the cost of a higher commission.
Check out this table below to see how much you would pay at 2.5% commission.
| House Price | Agents Commission % | Commission Cost |
| $500,000 | 2.5% | 12,500 |
| $750,000 | 2.5% | 18,750 |
| $1,000,000 | 2.5% | 25,000 |
| $1,250,000 | 2.5% | 31,250 |
| $1,500,000 | 2.5% | 37,500 |
| $1,750,000 | 2.5% | 43,750 |
| $2,000,000 | 2.5% | 50,000 |
Marketing and Advertising Costs
Marketing costs for selling a property in Queensland can vary.
These expenses typically range from $600 to $2000, depending on the chosen marketing plan and the duration of the marketing period.
This includes:
- Costs for listing the property on real estate websites
- Print media
- Social media
- Signage
- Creating brochures or flyers
Professional photography and videography, which are essential for showcasing the property, are also included in these marketing costs.
Auction Costs
Choosing to sell your property at auction is a strategic decision that often attracts more competitive bidding among buyers.
In Queensland, the fees for a qualified auctioneer generally range from approximately $400 to $1,000.
This fee can vary based on the auctioneer’s experience, reputation, and the specific services they provide.
Your real estate agent should be able to recommend whether an auction is worth the investment based on the type of home you’re trying to sell.
Conveyancing and Legal Fees
Conveyancing involves the legal transfer of property ownership and is a crucial part of the selling process.
While the final cost will vary, conveyancer fees on average range between $600 and $1,300 in QLD.
The actual cost can vary depending on the complexity of the transaction and the conveyancer or solicitor you choose.
While it is legal to do your own conveyancing in QLD when selling your property, you’ll be legally liable for any obligations that weren’t met.
Preparation and Staging Costs
If you want to maximise the appeal of your property, you should consider preparation and home staging.
This involves styling and furnishing your home in a way that highlights its best features to potential buyers.
In Queensland, professional home staging can cost anywhere from $2,000 to $10,000+ for higher-end properties.
The cost will vary based on the size of the property, the level of service provided, and the staging duration.
While it’s an additional expense, effective staging can significantly enhance the property’s attractiveness, potentially leading to a quicker sale and a higher selling price.
Capital Gains Tax
When selling a house in Queensland, it’s crucial to understand the potential implications of Capital Gains Tax (CGT).
CGT is a tax on the profit made from the sale of property or an investment.
Generally, if your property is your primary residence, you may be exempt from CGT.
However, if the property is an investment, you may be liable to pay CGT on the profit made from the sale.
The amount of CGT can vary significantly depending on various factors such as:
- The length of time you’ve owned the property
- Any capital improvements made
- Your personal tax circumstances
It is advisable to consult with a tax professional to understand your specific obligations and potential CGT liabilities.
This cost should be considered in the overall financial assessment of selling your property.
Mortgage Discharge Fees
If you have an existing mortgage on the property you’re selling, mortgage discharge fees are charged by lenders to process the termination of your loan account.
This fee covers the administrative tasks involved in closing the account, such as preparing and filing the necessary documents to remove the mortgage from the property title.
In Queensland, the mortgage discharge fees can vary depending on your lender but typically range from $200 to $400.
It’s important to check with your financial institution for the exact amount you’ll be charged.
Factors that Can Alter the Cost of Selling a House in QLD
Market Conditions
The overall demand and supply in the real estate market can significantly impact costs. In a seller’s market, where demand is high, houses may sell faster and for higher prices, potentially reducing marketing and holding costs.
Property Location
Urban properties in high-demand areas might attract lower agent commissions due to higher competition among agents, whereas rural or less sought-after areas may see higher commissions and marketing costs.
Property Type and Size
The nature of the property, whether it’s a luxury home, a standard residential property, or a unique listing, can influence the selling strategy and costs. Larger properties or those with unique features may require more extensive marketing efforts.
Property Condition
Properties that are well-maintained or recently renovated may attract buyers more easily, reducing marketing and selling time. Conversely, properties needing repairs might require additional investment before listing.
Seasonal Factors
Selling during peak real estate seasons may result in faster sales due to higher market activity, potentially reducing holding costs. Conversely, off-peak seasons might require more extensive marketing efforts.
Take advantage of understanding the cost of selling a house in QLD
Now that you better understand the cost of selling a house in QLD, you can maximise your property’s value while keeping expenses in check.
Being aware of the key factors like agent fees, marketing costs, legal expenses, and the unique aspects of your property can help you make informed decisions throughout the selling process.
If you live on the southern end of the Sunshine Coast, we’re widely regarded as the go-to real estate agents in Caloundra due to our dedication to providing our clients with expert advice and tailored strategies to ensure a successful and efficient sale.
Request a property evaluation today if you’re looking to sell your property.
If have any questions or general enquiries, don’t hesitate to call Luke and Katherine Carter on 0488 332 462 or contact us online.
We’re here to guide you every step of the way and ensure your selling experience is as smooth and profitable as possible.
If you live in Caloundra and are considering putting your property on the market, we’re here to help you achieve the best price possible. We’ve broken numerous street records in Moffat Beach, Dicky Beach, Golden Beach, Shelly Beach + more! Get a free appraisal today.
