The REIV doesn't determine fees. It's a deregulated industry and has been for some time. I've worked in Victoria since 1999 and agents have been able to charge fees that they determine appropriate during this time.
In Melbourne the main fees are;
Advertising - Can be anywhere $100 to $300 dependant on the packages used.
Letting Fee - generally between 1-1.5 weeks rental.
Management Fee - generally betwen 5-7% of the monthly rental.
Pros and Cons of RNT - Dog or Gem?, page-42
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