Victorian property sales changes from October 2026: What agents need to know

A practical overview of the new property sales and underquoting requirements, key dates and what Victorian agencies should prepare for.

Victoria is introducing significant changes to the way residential properties are marketed and sold, with most of the new property sales and underquoting requirements commencing on 1 October 2026. Additional requirements for auctions and fixed-date sales will apply to sales held on or after 16 October 2026.

The reforms affect how agents provide price information, use the new Property Price Statement, disclose reserve prices, select comparable properties and publish sold prices. For Victorian real estate agencies, this will affect more than the forms they use; it will also influence campaign timelines, advertising practices and internal sales processes.

Contents

• Why Victoria is changing its property sales laws
• What the Victorian property sales changes mean in practice
  • A new Property Price Statement
  • Reserve prices before auctions and fixed-date sales
  • Sold prices remaining publicly available
  • Changes to comparable property requirements
• Key dates for Victorian real estate agencies
• Further Victorian property sales reforms
• How Forms Live is preparing
  • What Forms Live users can expect
• How Victorian real estate agencies can prepare
• Stay informed as the reforms take effect

Why Victoria is changing its property sales laws

The reforms are designed to improve price transparency for homebuyers, address underquoting and make the residential property sales process fairer and clearer. They introduce more consistent requirements around how price information is prepared, displayed and updated before and after a sale.

For agencies, the impact extends beyond the documents used to list and sell a property. Pricing discussions, online advertising, auction preparation, comparable property selection and post-sale publication processes may all be affected.

The October reforms focus on five main areas:

• The introduction of Property Price Statements
• Reserve price disclosure
• Online property advertising
• Sold price publication
• Comparable property information

What the Victorian property sales changes mean in practice

The reforms change how price information is managed throughout a residential sales campaign, from preparing listing documents and advertising the property to auction planning and post-sale reporting.

A new Property Price Statement

The Property Price Statement will replace the current Statement of Information.

The new statement must include key features of the property being sold and the comparable properties used to support the price information. It must also be displayed prominently in online advertising rather than being placed at the bottom of a property listing.

Reserve prices must be published before auctions and fixed-date sales

For auctions and fixed-date sales, agents must publish the seller’s reserve price at least seven days before the scheduled sale.

The reserve price must be shown as a single dollar amount without qualifying words or symbols such as “from”, “over”, “+” or “starting at”. Once the reserve is set, the Property Price Statement and relevant advertising and marketing materials must be updated to reflect it.

If the reserve price has not been published for the full seven-day period, the auction or fixed-date sale cannot proceed.

Forms Live users will receive clear updates as the new forms become available.

Sold prices must remain publicly available

Agents must update the Property Price Statement with the sold price after a sale becomes unconditional.

The updated statement must remain publicly available for at least 18 months unless an exemption has been approved by the Director of Consumer Affairs Victoria.

Changes to comparable property requirements

Agents are generally required to identify three comparable properties when preparing residential property price information.

Under the new requirements, if three comparable properties cannot be identified but one or two are available, the available properties must be included in the Property Price Statement.

Key dates for Victorian real estate agencies

The reforms do not all take effect in the same way, so agencies should pay close attention to campaigns that run across the transition period.

• 1 October 2026: Most of the property sales and underquoting reforms commence. The new sold-price publication requirements apply to properties that become unconditional on or after this date, even if the contract was signed earlier.
• 9 October 2026: For an auction or fixed-date sale scheduled for 16 October, this is the deadline for publishing the reserve price.
• 16 October 2026: The new Property Price Statement, reserve-price and comparable-property requirements apply to auctions and fixed-date sales held on or after this date.

The existing rules continue to apply until the relevant commencement dates. Agencies should review active and upcoming campaigns to ensure their documentation, advertising and sales timelines align with the new requirements.

Further Victorian property sales reforms are coming

The October 2026 changes form part of a broader program of property sales reform in Victoria.

Additional requirements will be introduced throughout 2027:

• 1 June 2027: Section 32 vendor statements must be made available earlier in the sales campaign, with different timeframes applying to private sales, auctions and fixed-date sales.
• 1 July 2027: The existing early deposit release process will be replaced. Sellers and purchasers will instead be able to agree to an early release through a condition in the contract.
• 1 July 2027: Agents will no longer be able to take their commission directly from a deposit before settlement or rescission, although sellers may choose to pay the commission separately.
• 1 December 2027: Agents will be required to provide sold-price information to the Director of Consumer Affairs Victoria, unless an exemption applies.

These staged commencement dates mean Victorian agencies will need to continue reviewing their sales processes, documentation and internal procedures beyond the initial October 2026 rollout.

How Forms Live is preparing for the Victorian changes

Regulatory changes can require agencies to update more than a single document. Forms, supporting information and internal sales processes may all need to be reviewed before the new requirements commence.

Forms Live is monitoring guidance from Consumer Affairs Victoria and preparing updates to the relevant Victorian sales forms. This includes replacing the existing Statement of Information forms with new Property Price Statement forms and reviewing related sales authorities to reflect the reforms where required.

New form codes and availability details will be communicated through the Forms Live in-app news feed once confirmed. Forms Live users will be notified as the updated forms become available within the platform.

What Forms Live users can expect

As the reforms are rolled out, Forms Live users can expect:

• Notifications through the Forms Live in-app news feed
• Confirmed form codes and availability details
• Access to updated Victorian sales forms
• Links to relevant Consumer Affairs Victoria guidance
• Support with form-related questions Agencies should continue to refer to Consumer Affairs Victoria for complete guidance on their legal and compliance obligations.

How Victorian real estate agencies can prepare

Preparing for the reforms will involve more than replacing existing forms. Agencies should review the processes used to price, advertise and manage residential property sales from listing through to an unconditional sale.

Before the changes commence, agencies should consider:

• Identifying current and upcoming campaigns that will run across the October transition dates
• Reviewing how reserve prices are requested, recorded and published before auctions and fixed-date sales
• Ensuring online advertising and Property Price Statements can be updated within the required timeframes
• Establishing a process for identifying when a sale becomes unconditional, publishing the sold price and retaining the updated statement
• Reviewing how comparable properties are selected and documented
• Updating internal checklists, compliance procedures and staff guidance
• Briefing sales, administration and marketing teams on the new requirements

Agencies should refer to the latest Consumer Affairs Victoria guidance, and seek professional advice where required, particularly for campaigns that cross the commencement dates.

Stay informed as the reforms take effect

Victoria’s property sales reforms introduce significant changes to how residential properties are priced, advertised and managed through the sales process. With requirements commencing at different stages across 2026 and 2027, agencies will need to continue monitoring official guidance and reviewing their procedures.

Forms Live will continue tracking these developments, preparing relevant form updates and keeping users informed as each stage approaches.

For complete information about the reforms, read the Consumer Affairs Victoria guidance.

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Note: Information current as at 25 September 2026. Refer to Consumer Affairs Victoria for the latest requirements.