Andrew Nicholl

And I'm Andrew Nicholl.

So standard commission in New Zealand's kind of 4% on the first 400K, and then 2% on the balance after that.

So if you sell for $300,000, it's gonna be 4%.

If you sell for 500,000,

It's going to be 4% on the 400 and then 2% on the 100,000 above.

Now, remember, you've also got to add GST on top of that.

It's so bloody complicated.

So we have got to calculate on our website so that you can kind of figure it out as a rough guide yourself.

But on a million-dollar property...

That's about $32,000.

So, okay, theoretically, if I can make the same money and I just think about the commission I'm going to pay to my agent, if I sell that property for a million dollars myself, that's $32,000 that I can save.

So I immediately think...

Okay.

You've got the Real Estate Institute who want real estate agents to be successful.

Come up with some data.

And then I look at that and I think, well, hang on.

Does that mean that me as a private seller is getting less money?

Or does it just mean that people are listing higher value properties with agents and so that's skewing the numbers?

Yeah, I would have thought so because I can imagine that, you know, John and Jenny list their property, they're unrealistic, they get fed up with open homes and they get some average offers because people are nervous probably buying privately.

You know, people are bad enough buying a car privately, let alone a house privately.