Insights

Consumer Affairs Victoria has today released updated underquoting rules aimed at strengthening transparency in residential property sales — reforms that Hodges Real Estate fully supports.

The new rules require agents to identify three genuinely comparable sales when estimating a property’s selling price and to clearly disclose these in the Statement of Information. The definition of “comparable” has been tightened to include factors such as property condition, build status, location, and features. Agents must also retain evidence showing how these sales were selected and adjust price guides if market conditions change.

Advertising a property below the estimated selling price, the vendor’s asking or reserve price, or a rejected offer remains a clear breach, and Consumer Affairs will continue active enforcement.

Hodges welcomes these changes as an important step in maintaining trust and professionalism within Victoria’s property market. Transparent price guides help sellers make informed decisions and give buyers realistic expectations, ultimately improving confidence across the industry.

Hodges agents already operate under strict internal compliance standards, including regular training, campaign audits, and full disclosure of comparable data. These reforms further align with our long-standing commitment to honesty, accuracy, and ethical marketing.

We believe integrity is central to lasting client relationships. Hodges Real Estate remains committed to setting the benchmark for transparent property marketing and ensuring every campaign reflects the true spirit of the updated Consumer Affairs Victoria guidelines.