NOVAK NEWS - AGENTS COMMISSIONS & FEES: WHAT'S NORMAL, WHAT'S NOT?

What if you could save thousands of dollars by understanding the intricacies of real estate commissions and fees? Join us on Monday Novak News with Bidhan Shrestha and Lisa Novak as we unpack the hidden layers of real estate transactions. We start by demystifying agent commissions, revealing the extensive behind-the-scenes work and the critical role of trust between agents and vendors. We'll give you the insider scoop on what commission rates in New South Wales typically range from and why agents are only paid upon the successful sale of your property. Next, we address the often-overlooked issue of property management fees and the true cost of choosing the wrong company. Through real-world stories and cautionary tales, we highlight how experienced property managers can save you from costly mistakes and ensure your investment is well-protected. Learn why opting for the cheapest management company might end up costing you more in the long run and how to scrutinize low management fees for potential hidden charges.To wrap things up, we guide you through the process of transitioning property management to Novak, from handling termination periods and paperwork to tenant screening. We’ll discuss the importance of selecting a reliable managing agency and share flexible payment options that can make the transition smoother. Plus, we emphasize the importance of carefully reviewing sales agreements and understanding the negotiability of their duration. With this episode, you're not just getting informed—you're empowering yourself to make smarter real estate decisions.