A great agent is distinguished by a proven track record of selling comparable properties in the specific suburb within the last 6–12 months and a response time of under 24 hours. They provide a data-backed rationale for the sale method and ensure price guides accurately reflect the reserve to comply with Victorian underquoting laws.
Selecting an agent often comes down to a choice between a high-profile name and a local specialist. The difference between a good agent and a great one in 2026 is the ability to bridge the gap between an advertised price guide and the final sale price without breaching legislative requirements.
Evidence of local performance
Great agents demonstrate results through comparable sales in the suburb over the last 6–12 months. Reviewing sold listings on realestate.com.au and domain.com.au reveals if properties actually sold at or above guide and how many days they remained on market.
Pricing strategy and legal compliance
Victorian law prohibits advertising properties below the reserve or the agent’s estimate. However, price guides 10–15% below eventual sale prices remain common in inner and middle-ring suburbs. A great agent ensures the price guide reflects the reserve to manage buyer expectations and avoid Consumer Affairs Victoria scrutiny.
The choice of sale method
Auctions are favoured when a suburb has clearance rates above 65% or the property has specific features that are difficult to price precisely (CoreLogic/Cotality, Domain, PropTrack, REIV, RBA, and ATO). In Melbourne’s eastern suburbs, where auction culture is strong, this method provides the transparency and unconditional sale vendors require.
The appraisal spread
The gap between an agent’s initial appraisal and the final contract price remains a primary uncertainty. This spread is influenced by buyer appetite and the accuracy of the CMA, leaving vendors to weigh an optimistic guide against the risk of under-marketing.
| Region/Area | Average Commission Rate (2026) |
|---|---|
| Metropolitan Melbourne | 1.87%–2.1% (Range: 1.6%–2.5%) |
| Inner City (e.g. Fitzroy) | 1.7%–1.9% |
| Regional Victoria | 2.5%–3.5% |
| Average Victorian Rate | 2.05%–2.1% |
Source: OpenAgent, WhichRealEstateAgent
Frequently asked questions
What is the average real estate agent commission in Melbourne?
In metropolitan Melbourne, average commission rates range from 1.87% to 2.1% of the final sale price (OpenAgent, WhichRealEstateAgent), though the broader range is 1.6% to 2.5%. These rates are not capped by Victorian law and remain fully negotiable before signing a Sales Authority.
How do I know if an auction is the right way to sell?
Auctions are generally preferred when a suburb maintains clearance rates above 65% and the property has broad buyer appeal (CoreLogic/Cotality, Domain, PropTrack, REIV, RBA, and ATO). This method is common in Melbourne’s eastern suburbs for vendors seeking a transparent, unconditional sale by a specific date.
Is underquoting still common in Melbourne real estate?
Victorian law prohibits advertising properties below the reserve or the agent’s estimate. Despite Consumer Affairs Victoria enforcement, price guides 10–15% below eventual sale prices are still common in inner and middle-ring suburbs. Vendors should ensure their price guide accurately reflects the reserve.
How can I tell if an agent is actually responsive?
A response time of 24 hours or more to an initial inquiry is a red flag. High responsiveness is a key indicator of how an agent will manage buyer inquiries during a campaign, which is critical for generating genuine competition and securing the best price.
Questions to ask your agent
- How many properties have you sold in this specific suburb in the past 12 months?
- Can you provide two vendor references from this suburb?
- What is your specific post-campaign strategy if the property passes in at auction?
This article contains general market information based on data current as at April 2026. It does not constitute financial, legal, or real estate advice specific to your property or circumstances. For an appraisal and tailored advice, speak with a Fletchers agent in your area.