Selling in Victoria? Put the reserve-price conversation on your agenda

For Victorian auctions and fixed-date sales held on or after 16 October 2026, real estate agents must publish the seller's reserve price at least seven days before the sale. Consumer Affairs Victoria says a sale cannot go ahead if that deadline is missed. Confirm the requirements with your agent and legal adviser before launch.

The reserve price is the lowest price you are prepared to accept. Discuss it alongside the agent's appraisal, advertised price information and sale timetable. This rule is specific to Victoria, so sellers elsewhere should check their own state's requirements.

Which Victorian reserve price deadlines apply to your sale?

Ask your agent to confirm which requirements apply to your property and proposed sale date. Request that explanation in writing, including the relevant steps and who is responsible for completing them. If you already have a campaign underway, check its position promptly.

Where a required deadline has been missed, speak with the agent and your solicitor or conveyancer about what can lawfully happen next. Do not assume a late change to an advertisement resolves the issue. The regulator's guidance is the starting point for understanding the requirements.

What is the difference between appraisal, price guide and reserve?

An agent's appraisal, the advertised price guide and the seller's reserve serve different purposes. A seller should understand each one rather than treating them as interchangeable numbers.

Ask the agent how their appraisal was formed, what evidence supports the advertised information and what decisions are needed from you about the reserve. If any part of the explanation is unclear, pause and ask for clarification. You should be comfortable with the meaning of the figures before they become part of your campaign.

Keep the evidence at the centre

A price discussion should still begin with relevant sales and a realistic assessment of competing homes. Ask the agent to explain differences in condition, location, land and features. A nearby property can be a useful comparison without being an exact match.

It can also help to discuss what has changed since the comparison sold. Buyer preferences, competing stock and the circumstances of a particular transaction may all affect how much weight to place on it. The purpose is to understand the judgement behind the recommendation.

Review the campaign as a whole

The reserve-price conversation should be part of a broader review of the proposal. Ask about the intended buyer, the marketing approach, the costs and the reporting process. Understand who will answer enquiries and how you will be kept informed.

If you are comparing agents, use the same questions with each. Consistency makes differences easier to assess. An agent who provides a clear explanation of their process gives you something more useful to evaluate than a confident promise about the result.

Who advises on your sale strategy and legal obligations?

Your sales agent should explain how the campaign will be managed. Your solicitor or conveyancer should advise on legal obligations and the implications for your particular transaction. Seller advocacy can help you compare agents and proposals and prepare the questions you want answered.

These roles complement one another. Keeping them clear helps ensure that a question reaches the person best placed to address it. It also avoids leaving uncertainty unresolved until a date is approaching.

Support before you appoint an agent

At BrokerMyAgent, we help sellers across Australia compare best-fit agents, coordinate and review appraisals, assess proposals, review agent commission and marketing costs, and challenge anything that doesn't stack up. We provide guidance throughout the selling process, while your chosen agent manages the sale and your legal adviser addresses legal matters.

Our service is at no cost to the seller. We receive a referral fee from the sales agent you ultimately choose.

If you are considering selling in Victoria and would like help assessing your agent options, book a free, no-obligation 15-minute call. We can discuss your plans and the support that may be useful before you commit. If someone in your network is preparing a Victorian sale, please feel welcome to share this article.

Official guidance for Victorian sellers

Consumer Affairs Victoria: changes to property sales and underquoting laws. Guidance checked on 13 October 2026. This article is general information, not legal advice for your transaction.