The introduction of Australian-first underquoting laws faces a fight from some within the real estate sector, as supporters of the change argue only dodgy agents have anything to fear.

In a landmark reform to be introduced in parliament next year to combat rampant underquoting in Victoria, the state government will require sellers to disclose the minimum price they would accept a week before the scheduled sale.

Several major real estate chains signalled they were cautious or opposed the move, predicting varied unintended consequences.

They said there could be cases of “overquoting”, where home owners would name a higher reserve price than they would be actually willing to sell for and then negotiate if the property passed in.

Consumer groups and industry agitators welcomed the propose

See Full Page