How Victorian real estate agencies can prepare for the new Property Price Statement requirements

From 1 October 2026, Victorian residential sales agencies will face significant new compliance obligations under the Victorian Government's Property Price Statement (PPS) reforms.

The changes introduce new requirements around pricing transparency, reserve price disclosure, advertising compliance and post-sale reporting. While the reforms apply to all Victorian residential sales agencies, the operational impact will be particularly significant for agencies conducting auctions and fixed-date sale campaigns.

With penalties of up to $50,184 (240 units) per offence, agencies should begin reviewing their sales workflows now to ensure they are prepared.

What's driving the reform?

The Victorian Government has introduced the new Property Price Statement framework as part of broader efforts to increase transparency in residential property sales and provide greater visibility into property pricing throughout the sales process.

The reforms replace the existing Statement of Information (SOI) framework and introduce new disclosure obligations before, during and after a property sale.

These changes are designed to improve transparency for buyers by providing clearer information about how properties are marketed, quoted and ultimately sold.

What is changing?

From 1 October 2026, the Statement of Information will be replaced by the Property Price Statement (PPS). While many familiar requirements remain, the new framework expands the information that must be published and introduces additional compliance obligations for agencies.

Key changes include:

• The Statement of Information becomes the Property Price Statement (PPS)
• A compliant PPS must be published alongside online advertising
• Additional property and comparable sale information must be included
• Reserve prices must be disclosed for auctions and fixed-date residential sales
• Sold prices must be published after a residential sale becomes unconditional
• Physical advertising must include a QR code or web address linking to the PPS
• PPS documents must remain publicly available online for at least 18 months after sale

What agencies will be required to do?

Under the new framework, Victorian residential sales agencies will need to:

1. Publish a compliant Property Price Statement

A PPS must be prominently displayed in every internet advertisement for a residential property for sale.

The statement must include:

• Property details and key features
• Comparable property information
• Indicative selling price
• Reserve price (where applicable)
• Sold price following settlement milestones

The PPS must remain available throughout the sale campaign and continue to be published after sale.

2. Meet new reserve price obligations

For auctions and fixed-date sales, agencies must:

• Request the seller's reserve price in writing and obtain written confirmation from the seller
• Publish the reserve at least seven days before the auction or fixed-date sale
• Ensure the reserve remains publicly available until the scheduled sale date

Once a reserve has been received, agents cannot advertise or quote below that amount.

3. Update advertising quickly

If a reserve price is received that is higher than an advertised price, agencies must amend or remove online advertising showing the lower amount within one day.

This creates new workflow requirements across websites, portals and marketing materials.

4. Publish sold prices after unconditional sale

Agencies must add the sold price to the Property Price Statement within seven days of the sale becoming unconditional, unless an approved exemption applies.

The PPS must then remain publicly available online for at least 18 months.

Why agencies should start preparing now

Although the reforms commence on 1 October 2026, many agencies will need to update internal processes, train staff and review marketing workflows beforehand.

Some of the biggest operational challenges include:

• Managing multiple PPS versions throughout a campaign
• Tracking reserve price deadlines
• Updating online advertising when pricing changes
• Managing post-sale publication requirements
• Ensuring physical advertising complies with new QR code requirements

Agencies that leave preparation until the final weeks may find themselves managing these changes under significant time pressure.

Transitional arrangements agencies should know

The reforms include transitional arrangements that are important to understand.

For private treaty sales, the new Property Price Statement requirements apply from 1 October 2026.

For auctions and fixed-date sales:

• Sales held on or before 15 October 2026 continue under the existing Statement of Information rules
• The new requirements apply to auctions and fixed-date sales held from 16 October 2026 onward
• Post-sale disclosure obligations may still apply depending on the circumstances of the sale

Because regulatory guidance continues to evolve, agencies should monitor updates from Consumer Affairs Victoria and seek professional advice where required.

What does a Property Price Statement include?

Compared to the current Statement of Information, the PPS introduces several new disclosure requirements. As of the time of publication the new PPS form is not currently available, however, the below has been laid out by Consumer Affairs Victoria.

In addition to the comparable sales information currently required, agencies will also need to publish:

• Building type
• Bedroom count
• Bathroom count
• Car spaces
• Internal floor area
• Land size

The PPS will also need to contain:

• Key features of the property being sold
• Reserve price (where applicable)
• Sold price following an unconditional sale
• Additional explanations when fewer than three comparable properties are available

How can Reapit support agencies?

While the reforms are driven by Victorian legislation, technology can play an important role in helping agencies reduce compliance risk.

To support customers ahead of the October commencement date, Reapit is delivering platform enhancements designed to help agencies manage the new requirements.

PPS Publish Gate

Reapit is introducing a publishing control for Victorian residential sales listings.

This functionality prevents listings from being published without an attached Property Price Statement, helping agencies reduce the risk of marketing properties without required documentation.

Improved PPS document management

As agencies will likely need to update PPS documents multiple times during a campaign, Reapit is also enhancing document management workflows to make it clearer which version is being sent to websites and portals.

Ongoing industry collaboration

Reapit continues to work with major property portals and industry stakeholders to understand how reserve pricing information will be managed and displayed as implementation requirements become clearer.

How should agencies prepare now?

There are several practical steps agencies can take immediately:

• Review your sales workflows: Map out how pricing, reserve information and compliance documents are currently managed.
• Educate your sales teams: Ensure agents understand the new obligations and key deadlines introduced by the legislation.
• Audit active listings: Review existing Victorian listings and identify where additional PPS information may be required.
• Update marketing processes: Ensure teams responsible for websites, portals and advertising understand the new publication requirements.
• Evaluate your technology readiness: Confirm that your CRM, portal integrations and compliance workflows can support the new obligations from commencement.

More information

As implementation guidance continues to evolve, agencies should stay informed through:

• Consumer Affairs Victoria updates
• Industry association guidance
• Legal and compliance advisers
• Reapit product updates and customer communications

The Victorian Property Price Statement reforms represent one of the most significant residential sales compliance changes introduced in recent years. Agencies that prepare early will be in a stronger position to minimise risk, streamline compliance and maintain business continuity when the new requirements take effect.

This information is provided for general guidance only and does not constitute legal or professional advice. Agencies should seek independent legal or compliance advice regarding their specific obligations under Victorian legislation.