- Published:
- Tuesday 23 June 2026 at 11:42 am
If you’ve ever tried to buy a property, you’ve probably felt the heartbreak of missing out.
You’ve done your research, worked out your budget and put in the hard work – only to be outbid at the last minute.
What if the property went for higher than the price range or comparable properties?
You may have experienced underquoting. It’s a technique some agents use to deceive buyers and inflate interest in a property.
It wastes your time, money and emotions.
It’s also illegal in Victoria.
Consumer Affairs Victoria’s Underquoting Taskforce is working to stamp out underquoting.
The taskforce is made up of inspectors, intelligence analysts, lawyers and escalations officers. It also includes investigators, like Sarah*.
‘Our role involves gathering evidence, either from members of the public or real estate agents themselves,’ she says.
‘A lot of our investigations start through tip offs,” adds Reece another member of the taskforce. “But we also do our own investigations, including random spot checks.’
The Underquoting Taskforce looks into many factors, including auction results, to identify suspected cases of underquoting.
By law, an agent cannot advertise or tell you a price that is less than:
- the seller's auction reserve price or asking price
- a written offer already rejected for being too low
- the agent's current estimated selling price.
The taskforce examines factors such as the relationship between the advertised price and the eventual sale price.
They also look at the Statement of Information, indicative selling price and details of comparable properties.
If the sale occurred at an auction, they may examine the number of bids and whether they started at the lower estimate of the price range.
The team can request files from agents to better understand how the estimated selling price is determined.
‘That includes things like diary notes, and text messages between themselves and the buyers or sellers,’ Sarah says.
’We want to create a fair and equitable marketplace,” she says. “And we take a zero-tolerance attitude.’
The team conducts auction blitzes each season and has attended hundreds of auctions since it was formed.
‘Our presence is about education as well as enforcement,’ explains Reece*, another taskforce member.
Investigators attend in uniform and engage with buyers to talk about their experiences.
The taskforce is just one initiative aimed at giving Victorians a more accurate picture of the real estate market. Under new laws introduced this year, agents will be required to publish the property’s reserve price at least 7 days before an auction or fixed-date sale.
To find out more about underquoting, visit the Consumer Affairs Victoria website.
Consumer Affairs Victoria is part of the Department of Government Services.
* Names have been changed to protect confidentiality
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