Real estate agents will have to disclose a home’s reserve price well before buyers attend auctions under Australian-first laws aimed at tackling rampant property underquoting in Victoria.

The fundamental change, to be announced by the Allan government on Thursday, follows this masthead’s Bidding Blind investigation, which uncovered widespread deception facing those trying to navigate the auction market.

Consumer Affairs Minister Nick Staikos said that underquoting – an illegal practice where agents deliberately advertise properties for less than their actual value to build competition – was commonplace.

The new laws, set to be introduced in parliament next year, will require agents to publish the owner’s reserve price at least seven days before auction day or fixed-date sale. If agent

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