Victoria’s New Underquoting Laws: What They Mean If You Sell Privately

On 1 October 2026, Victoria’s new underquoting laws kick in, and they were written for real estate agents, which our sellers don’t have.

PropertyNow sellers list their own homes for a flat fee. Yet the law, the regulator’s guidance, the new price form and the portals’ instructions all picture an agent sitting between seller and buyer. So we’ve spent the last few weeks working out what each rule means for someone selling their own home, and changing our platform to match.

If you’re selling in Victoria this spring, the changes are very manageable. Most of them come down to a couple of dates and one number you’ll want to decide early.

This is a plain-English overview, not legal advice. For your own sale, check Consumer Affairs Victoria’s guidance or talk to a Victorian conveyancer or solicitor.

What’s changing in Victoria?

The reforms come from the Consumer Legislation Amendment Act 2026, and Consumer Affairs Victoria’s summary is the best place to read them in full. For sellers, four changes matter:

Your reserve price goes public. For auctions and fixed-date sales held on or after 16 October 2026, the reserve must be advertised at least 7 days beforehand as a single dollar figure (no “from”, “over” or “+”). Change it, up or down, and the 7 days start again. If it hasn’t been public for the full 7 days, the sale can’t go ahead on that date.
“Fixed-date sale” is broader than it sounds. CAV’s industry Q&A says inviting offers by a set date and time can count, and boardroom-style auctions do.
The Statement of Information becomes the Property Price Statement. It adds key features of your home and of each comparable sale (bedrooms, bathrooms, car spaces, land and floor area), and it has to be linked right next to the advertised price.
Sold prices get published. From 1 October, the sold price goes on the statement within 7 days of the sale becoming unconditional, and stays public for at least 18 months. The only exemption is for family or personal violence, approved by the Director of Consumer Affairs Victoria.

The key dates are 1 October 2026 for sold prices, and 16 October 2026 for the reserve and new statement on auctions and fixed-date sales. So a 16 October auction needs its reserve published by 9 October. (Further changes to Section 32 timing, deposits and price reporting follow through 2027.)

Where rules written for agents meet private sellers

Every obligation in the new law is written as something an agent must do. Whether each one formally applies to a person selling their own home isn’t clearly spelled out, and CAV’s Q&A doesn’t address sales without an agent.

We’ve made a call on that. Because PropertyNow is the licensed agency named on your listing, we treat these obligations as ours and build them into the way Victorian listings work. The intent is fair, too: private sellers benefit from a market where advertised prices mean something, and the portals will expect the new format from every listing regardless.

A few rules needed real interpreting.

“The agent must ask the seller, in writing, for their reserve.” When you’re selling privately, you’d be asking yourself. So instead, the reserve becomes a required field: choose Auction or Set Sale in Victoria and you’ll need to enter one before your listing saves.

The new form isn’t out yet. CAV has said the Property Price Statement template will be published before the new laws start. At the time of writing (23 September), it hasn’t been released, so we’ll keep providing the current Statement of Information and switch over as soon as it is.

The portals are adjusting too. realestate.com.au doesn’t have a dedicated reserve field in its feed yet, so for now your reserve will appear in the price text, as a line like “Reserve: $780,000”. Everyone is moving at once on a tight timeline.

“Sold” means unconditional. Many private sellers think of a home as sold at settlement. Under the new rules, the 7-day clock starts when the sale becomes unconditional. In most sales, that’s once any cooling-off period has run and conditions like finance or a building inspection are met or waived, and your conveyancer can confirm the date for your contract. We’ve updated our help article on when to mark your listing as sold to match.

Exemptions are built around agents. For our sellers, the practical version is simple. If you think you might need a sold-price exemption, contact us before you mark the property sold, and we’ll work through it with you.

What’s changing on PropertyNow for Victorian sellers

We’re rolling out these changes for Victorian listings:

A new Set Sale option alongside Auction, for fixed-date and “offers close by” campaigns.
A required reserve for Victorian auctions and set sales, with a warning if you set or change it within 7 days of your date.
Your reserve shown on the portals and on your PropertyNow listing page.
A Property Price Statement link next to your price, which stays up after the sale.
Sold prices published for every Victorian sale (our team handles approved exemptions).
A QR code on your brochures linking to your listing and statement.

Our help article on the new Victorian rules will stay current as each piece goes live and the new statement template arrives.

Your checklist for selling privately in Victoria

Decide your sale method early. On PropertyNow, an auction or set sale date (including “offers close by”) needs a published reserve. A private sale with an asking price and no closing date doesn’t.
Set a realistic reserve before you list, and have it public at least 7 days before your date. For a 16 October sale, that’s 9 October.
Write it as one figure: “$780,000”, with no “+” or “offers over”.
Leave it alone in the final week unless you’re happy to move your date.
Keep your Property Price Statement beside your price, and a link or QR code on any printed ad that describes the property.
Mark the property sold once it’s unconditional, with the sale date and price ready.
Talk to us first if you think you need a sold-price exemption.

For the rest of the process, our guide to selling your own home in Victoria takes you through it step by step, and our price advertising rules cover how to present your price.

The bottom line

There’s rarely legislation written with private sale in mind. We sit somewhere between “agent” and “person selling their house”, and we’ve been reading rules like these on our sellers’ behalf since 2006. When something’s unclear, we’ll take the reading that keeps you compliant and protected, and tell you plainly what we’ve done.

For most Victorian sellers, the new rules come down to publishing your reserve a week out and recording your sale once it’s unconditional. It’s very doable.

Selling in Victoria this spring?

List your home on the major portals for one flat fee, with licensed agents on hand 7 days a week to help with your reserve, your Property Price Statement and everything else.

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Frequently asked questions

Do I have to publish my reserve price in Victoria?

For auctions and fixed-date sales held on or after 16 October 2026, the rules require the reserve to be published as a single dollar amount at least 7 days beforehand. The law frames this as an agent’s obligation. As the licensed agency on your listing, PropertyNow requires a published reserve on every Victorian auction and set sale.

Can I change my reserve price once it’s published?

Yes, but any change, up or down, restarts the 7-day period, which may mean moving your sale date.

What is a Property Price Statement?

It replaces Victoria’s Statement of Information. It shows the indicative selling price, the most comparable recent sales, and key features of your home and each comparable. Online, it must be linked right next to the advertised price.

Can I keep my sold price private?

Only in limited cases. The one exemption covers family or personal violence involving the seller or buyer, and it needs approval from the Director of Consumer Affairs Victoria. A general wish for privacy isn’t enough.

When does my property count as sold?

When the sale becomes unconditional, which usually comes well before settlement. Your sold price then needs to be on the Property Price Statement within 7 days.