Overview
- Under laws announced by the Allan government, agents must publish a property's reserve at least seven days before auction, or the property cannot legally be offered for sale.
- The requirement applies to auctions and fixed‑date sales, and agents will need to update all marketing to reflect the declared reserve.
- The government plans public consultation in 2026 and has pledged to introduce a bill to parliament by the middle of the year.
- The policy follows The Age’s Bidding Blind analysis showing 52% of 25,830 Melbourne sales exceeded the top of their advertised price guides.
- The Real Estate Institute of Victoria calls the approach an overcorrection and seeks a broader reform package, raising questions about private sales without fixed dates.