New price-transparency rules: five questions sellers should ask before appointing an agent
By Ben Price ·
A high appraisal can feel reassuring. It is not, on its own, a reason to appoint a real estate agent.
Recent changes to property price-transparency rules in New South Wales and Victoria have put fresh attention on how agents explain and advertise prices. For sellers across Australia, the practical lesson is straightforward: ask for the evidence before you commit.
What has changed, and where
NSW Fair Trading announced on 29 October 2026 that changes affecting price advertising, agency agreements, estimated selling prices and record keeping will begin on 17 November 2026. A further requirement for a compliant Statement of Information is scheduled to begin on 8 February 2027.
Consumer Affairs Victoria reported on 27 October that Victoria's new price-transparency laws commenced on 1 October 2026, with the new auction and fixed-date-sale requirements applying from 16 October 2026. Its underquoting taskforce had monitored 40 auctions over the previous weekend.
These are state-specific developments. Property sale laws and required documents differ across Australia. Sellers should confirm the rules relevant to their state or territory with the appropriate regulator or legal adviser.
1. Which recent sales support your appraisal?
Ask each agent for genuinely comparable settled sales and an explanation of the differences. A nearby property with a different land area, condition, layout or buyer appeal may not be a useful comparison. Where possible, focus on the last three months and extend to six months if needed for an adequate sample. This is a practical comparison guide, not a substitute for your state's prescribed requirements.
2. How does your proposed advertising strategy relate to the appraisal?
Ask how the agent intends to communicate price expectations to buyers and what evidence supports the approach. A marketing price guide, an appraisal and a seller's own target may serve different purposes; do not assume they are interchangeable or that every state uses the same rules.
3. What happens when new evidence emerges?
A well-supported estimate may still need review if comparable sales, buyer feedback or competing listings change. Ask how the agent will document the reasons for any revised recommendation and how you will be consulted.
4. What are you being asked to sign and pay for?
Read the proposed agency agreement and marketing schedule. Compare commission structures, advertising budgets, campaign durations and possible additional charges. Ask which services are included, what is optional and what happens if you withdraw or change strategy. Seek legal advice on obligations you do not understand.
5. Who is independently assessing the agent's recommendation?
An agent should be able to explain their own advice. But sellers can also benefit from a separate review before appointing one. An independent seller advocate can compare several agents and proposals without being the agency competing to secure the listing.
The aim is a better-informed appointment
A selling strategy should be based on credible evidence, clear communication and a realistic understanding of the property and market. An impressive presentation is not a substitute for that work.
Price Advocates is not a real estate sales agency. We work alongside sellers to research and shortlist suitable licensed agents, coordinate and review appraisals, compare selling proposals and proposed costs, and support the seller through to settlement. The selected agent conducts the sale.
Our service is free to sellers; we receive a referral fee from the sales agent they ultimately choose. Thinking of selling? You can use the button below to book a free, no-obligation 15-minute call.