IRP Real Estate Commission Incentive Rate?

[Shaynelle]

The IRP Policy states:

Members who elect not to sell their home receive an incentive equal to 80% of the pre-negotiated corporate real estate commission rate based on the appraised value of the home. It shall not exceed $12,000.


I know the CF has worked out a preferred rate for real estate commissions (lower than the rates you normally would pay).  Does anyone know the rate?  We are thinking of not selling our home when we move, but I want to know if its worth it to us, and this is part of the equation.  I can't contact IRP until tomorrow so I'm curious as I have the time this evening to work on my calculations.

Thanks!

 

[1feral1]

Here is Sydney we are paying 2.5%, plus $1700 in advertising. Our home was listed first at 539k, now at 509k, so comission is over 12k to sell. Try www.realestaste.com.au and have a squizz on Sydney prices.

Our new place on Bribie Island www.bribie.com.au is now worth over 400k, but here in Australia there is something called stamp duty, a form of govt theft, so when we bought our house on Bribie, we had to pay over 12k just in tax to buy it. Rip off!

Cheers,

Wes

 

[Michael OLeary]

I haven't seen this year's edition of the guidelines yet, but in 2003 the rate was 5% for real estate commissions.