Victoria’s New Rules: What Mandatory Reserve Disclosures Mean for You

Effective 1 October 2026, vendors across Victoria are legally required to publicly disclose their reserve price, or fixed price expectations, at least 7 days prior to an auction or fixed-date sale.

At Barry Plant, we believe transparency builds confidence. Whether you are searching for your next home or preparing to list, understanding how these legislative changes work will ensure you feel informed, supported, and ready to navigate your campaign with clarity.

What is the 7-day reserve price disclosure law?

From 1 October 2026, Victorian legislation requires real estate agents to obtain a vendor's written reserve price and publish it at least 7 days before an auction or fixed-date sale. An auction cannot legally proceed unless this reserve figure has been publicly displayed within the mandatory timeline.

Why Victoria Is Introducing Reserve Price Transparency

The primary goal of the updated legislation, managed alongside guidance from Consumer Affairs Victoria (CAV) and the Real Estate Institute of Victoria (REIV), is to eradicate underquoting and improve buyer trust across the market.

Historically, a vendor’s reserve price, which is the minimum price a seller is willing to accept, was often determined on the morning of the auction. Under the new rules:

• No Late Reserves: The reserve figure must be formally documented in writing and published across all marketing channels 7 days prior to sale day.
• Aligned Marketing: The property's Property Price Statement (PPS), which replaces the traditional Statement of Information, must immediately reflect the published reserve.
• Public Clarity: Buyers can see the vendor’s exact baseline, ensuring every participant understands the threshold required for the property to be officially on the market.
  
  

What the New Laws Mean for Home Buyers

For buyers, the mandatory 7-day reserve disclosure provides much-needed clarity during an emotional process.

Key Benefits for Buyers

• Price Transparency: You will know the vendor’s minimum expectation a full week before auction day, allowing you to focus your efforts on properties that genuinely fit your purchasing budget.
• Streamlined Due Diligence: Knowing the exact reserve helps you prioritise where to invest money on building inspections, pest reports, and legal reviews of Section 32 statements.
• Clear Bidding Expectations: When bidding starts on auction day, you will already know where the property stands in relation to being called "on the market."

A Quick Buyer Tip: A published reserve is the vendor's baseline for sale; it is not a cap on value. Market competition on the day still dictates the final sale price, so thorough market research remains essential.

What the New Laws Mean for Property Vendors

While setting a public reserve 7 days in advance moves the pricing timeline forward, it offers sellers a wonderful opportunity to build genuine buyer engagement grounded in trust.

Strategic Advantages for Sellers

• Qualifying Active Buyers: Displaying a clear reserve filters out passive onlookers and attracts serious buyers who have the capacity to compete.
• Stronger Buyer Engagement: Transparent expectations build buyer confidence, often encouraging more registered bidders to participate on the day.
• Early Decision-Making: Moving the reserve decision forward allows you and your agent to collaborate peacefully, analysing real campaign data well before the excitement of auction morning.
  
  

The New Campaign Timeline at a Glance

CAMPAIGN WEEKS 1 - 3: Collect genuine buyer feedback and inspection data.

7 DAYS TO AUCTION OR SET DATE SALE: Finalise and publish written reserve price.

AUCTION DAY: Host auction with fully qualified, confident buyers.

How Barry Plant Helps You Set a Data-Backed Reserve

Setting a reserve price a week early requires discipline, deep local market insight, and clear communication. Rather than picking a number based on guesswork, the Barry Plant team relies on a proven, human-centric approach to help vendors navigate this process comfortably.

1. Real-Time Feedback Analysis

Throughout weeks 1 to 3 of your marketing campaign, we record detailed buyer feedback, written offers, and contract requests to measure precise market interest.

2. Comprehensive Comparative Market Data

We analyse recent local sales, current market clearance rates, and economic indicators to provide a clear picture of relative property values in your neighbourhood.

3. Collaborative Strategy Sessions

Your Barry Plant agent sits down with you well before the 7-day deadline to review campaign data together. We guide you through scenario planning so you can set a confident, realistic reserve that protects your property's value while encouraging competitive bidding.

Preparing for October 1 and Beyond

Whether you plan to buy or sell this season, navigating real estate legislative changes is always easier when you have an experienced team in your corner.

• Sellers: Talk to your local Barry Plant team about timeline planning, ensuring Section 32 documentation and pricing strategies are organised well ahead of launch.
• Buyers: Keep an eye out for updated Property Price Statements on our listings, and reach out to our agents to discuss property features or contract terms early.

At Barry Plant, our commitment to starting with excellence means keeping you informed, prepared, and confident at every step of your property journey.