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Commission on selling block of 4 units

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  • Commission on selling block of 4 units

    I am looking at selling a block go 4 units all on seperate titles and cross-lease. I have bought plenty of property in NZ but have not had a completed sale in NZ. I have told the agent that as I am selling 4 units they are going to benefit from economies of scale and I want to see some of this passed on. They have offered 3.6% instead of 4% and will put $300 per unit for marketing if I match this with $300 per unit. I feel this is offering with one hand and taking away with the other. I am from UK and am used to 1-1.5% commission. What do you do when selling a block of units?

  • #2
    Where are the units - sales commissions do vary by area but 4% is quite standard starting point for the negotiation.

    Also check if this is inc or plus GST

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    • #3
      Also, remember there's no Stamp Duty to pay here in NZ, so the difference between here and the UK isn't as stark as it seems.

      But if it's too much for you, try selling privately first. May not be the best option, but it'll seem cheaper.
      AAT Accounting Services - Property Specialist - [email protected]
      Fixed price fees and quick knowledgeable service for property investors & traders!

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      • #4
        Units are in Rotorua

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        • #5
          Nah bargain them down - or someone else down.

          You should be able to get them sold for 2.5% I reckon.

          Agents are very short of listings just now.
          Squadly dinky do!

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          • #6
            I think you can get below 3%. How much are the units though?

            Mike Pero has a fee of 2.95% + GST as standard up to 390k.
            Your Home Loan - Wellington Mortgage Broker
            [email protected]

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            • #7
              will list at $180k each

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              • #8
                Just messaged a real estate agent who I work closely with. He thinks he can put you in touch with someone in Rotorua who will do it for well under 3%. Email me [email protected] or PM me contacts on here and I can pass on your details
                Your Home Loan - Wellington Mortgage Broker
                [email protected]

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                • #9
                  Email [email protected] - she markets directly to a large database of investors who are keen on units. We market digitally and don't charge for it, including TradeMe, we can also do a listing reasonably quickly instead of tying up your property for months.

                  I think our fee on $800K of property equates to 2.625% + GST or so. It would usually be more to do 4 lower priced sales but you could always negotiate with Debbie. She surely must be one of the most successful agents in Rotorua.
                  Free online Property Investment Course from iFindProperty, a residential investment property agency.

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