The REIV’s interim CEO, Jacob Caine, spoke on the “Property Playbook” podcast about the persistence of underquoting despite legislation introduced in 2017.

Underquoting refers to the practice of listing a property with a guide or quoted price lower than what the seller will accept or what the market warrants.

Mr Caine said that although reforms were put in place, significant consumer dissatisfaction remains.

The root causes cited include: inadequate data transparency, agent‐behaviours that favour attracting buyers via low guides, and a lack of clarity for buyers about actual market value Why it matters

• For buyers: Misleading or vague price guides erode confidence and can lead to surprise costs or mis‐expectation when bidding.

• For agents and sellers: Growing scrutiny means reputational risk; agents may need to adjust how they present properties and justify guides.

• For the broader market: Trust and transparency are critical—if buyers feel disadvantaged, market activity could slow or regulators may intervene.

What’s being proposed

• REIV is advocating for stronger data transparency mechanisms — for example, clearer justification of price guides, better use of recent comparable sales, and more upfront disclosure of agent pricing rationale. Ticker

• A review of how price guides are published (e.g., “listed price”, “price guide range”, “expect offers above X”), and whether current rules are sufficient or need to be tightened.

• Encouragement for agents to adopt best-practice standards in listing presentation, so buyers can better assess whether a guide is realistic.

What remains unclear

• While the 2017 legislation addressed underquoting, Mr Caine indicated that its implementation has been “patchy” and inconsistent. Ticker

• The article does not specify any immediate regulatory changes or enforcement actions—whether the reforms will be voluntary industry standards or involve tougher regulation is yet to be determined.

• The magnitude of underquoting (how widespread, how much difference between guide and sale price) is not quantified in the article.

Implications for stakeholders

• Real-estate agents operating in Victoria may need to review their pricing and listing practices ahead of possible regulatory tightening.

• Marketing and digital-services providers (like your business) can position themselves to help agents communicate listing & price-guide information more clearly — e.g., transparent listing narratives, buyer-education content, virtual tours with data backing.

• Buyers should approach listings more carefully: ask for recent comparable sales, question how the price guide was set, and consider engaging a buyer’s agent or adviser.

Conclusion

The REIV’s call for improved transparency in property price guides underscores a broader shift in the Victorian real-estate market: trust, clarity, and data-driven practices are becoming more important. Agents, marketers and buyers alike may need to adapt to evolving expectations — and regulatory or industry standards may follow.