January 2026 

In January 2026, the REIV provided a blueprint to tackle issues experienced with underquoting in the real estate sector. The blueprint was a response to ongoing discourse and proposals from the government, industry bodies, media, and broader public on underquoting and its impacts.

The submission emphasised the urged the Victorian Government to adopt a more nuanced and holistic approach to improving price transparency and consumer confidence in residential property transactions.

Key recommendations included: 

• Private sale marketing should display a single, vendor-authorised asking price

• Auction marketing should display a 10 per cent price range. No later than three clear business days before the auction, the vendor should confirm that their reserve price falls within the advertised 10 per cent price range

• Disclosure of the sale price for all residential properties should be made once a contract becomes unconditional

• Building and Pest Inspection Report should be included in the Vendor’s Statement (Section 32)

• Section 32 information should be made available when property is offered for public sale

• A demerit point system should be developed to foster a compliance culture

• Greater transparency should be introduced around enforcement activity, progress and resulting learnings

• Mandatory bidder registration should be introduced, and available digital copies of key documentation should be available

The REIV reaffirmed its support for reforms that enhance service quality, improve compliance, and strengthen consumer confidence. The REIV continues to advocate that the government withdraws its reserve disclosure proposal and instead adopt broader reforms improving data access, enforcement, and consumer protections.

The government has since indicated it will legislate the REIV’s recommendation for building and pest inspections and mandate disclosure of the sale price.

December 2025 

In December 2025, the REIV made a submission in response to the Victorian Government’s Regulatory Impact Statement (RIS) on reforms to minimum education requirements, continuing professional development (CPD), and fee structures for agents’ representatives and estate agents.

The submission emphasised the importance of strengthening professionalism, lifting capability across the sector, and ensuring reforms are scalable to support positive consumer outcomes.

Key recommendations included: 

• Introduce a mandatory five CPD activities annually for real estate professionals

• Maintain rigorous RTO oversight and regulatory approval of CPD

• Implement partial cost recovery for entry, registration, and licensing fees

The REIV reaffirmed its support for reforms that enhance service quality, improve compliance, and strengthen consumer confidence. It is also committed to continued collaboration with the Victorian Government to deliver a high-quality, future-focused education and regulatory framework for Victoria’s real estate sector.

The Victorian Government has subsequently reopened consultation, including direct engagement with the REIV, as it finalises its education and fees regulations. Expected implementation is from April 2027.

April 2022 

In April 2022, the REIV made a comprehensive submission to the Victorian Government’s Property Market Review, highlighting the real estate sector’s vital role in the state’s economy and calling for balanced, evidence-based reform to strengthen professionalism, transparency, and consumer confidence. 

Key recommendations included: 

• Improving price quoting rules to ensure fair and accurate market information 

• Introducing stronger disclosure and transparency requirements across all property sales 

• Mandating ongoing professional development (CPD) for agents and representatives 

• Enhancing compliance and oversight of property transactions 

• Reviewing property taxes and tenancy laws to support investment and housing supply 

The REIV reaffirmed its commitment to working with the government to deliver a fair, transparent, and well-regulated property market that supports both consumer protection and the long-term sustainability of Victoria’s housing sector. 

September 2020 

In September 2020, the REIV provided a detailed submission to Consumer Affairs Victoria in response to the Regulatory Impact Statement for the draft Estate Agents (Education) Regulations 2020. The Institute strongly supported higher education standards for the profession but raised concerns about the RIS’s tone and its limited recognition of the industry’s commitment to professionalism. 

Key recommendations included: 

• Supporting higher qualification standards for both agents and representatives 

• Endorsing the proposed Certificate IV and Diploma course structures 

• Calling for stronger oversight of training providers to ensure course quality 

• Opposing any deregulation that would reduce education standards 

• Supporting a clear pathway for professional development and CPD 

• Recommending flexibility in implementation and funding arrangements 

The REIV reaffirmed its commitment to a qualified, professional, and job-ready real estate workforce and called for stronger collaboration with government to ensure education standards reflect the complexity and responsibility of modern real estate practice in Victoria. 

November 2018 

In November 2018, the REIV submitted to Consumer Affairs Victoria regarding Section 55 of the Estate Agents Act, which prohibits agents, their representatives, or associated persons from receiving commission when acquiring an interest in a property they are selling. The Institute highlighted that while the provision was intended to protect consumers, it has created unfair outcomes for agents and vendors, particularly in regional areas and small markets. 

Key recommendations included: 

• Repealing the overly restrictive Section 55 provisions while maintaining appropriate consumer protections 

• Allowing agents or associated persons to receive commission when acting honestly and reasonably, with written vendor consent 

• Limiting any cooling-off period to five business days rather than the proposed 21 days 

• Ensuring transparency and fairness in transactions involving agency-associated buyers 

• Addressing unintended consequences at auctions and in regional markets that disadvantage vendors and agencies 

The REIV emphasised the need to balance consumer protection with the right of agents to receive fair payment for their work and to ensure that legislation reflects modern real estate practice in both metropolitan and regional Victoria. 

March 2018 

In March 2018, the REIV provided detailed feedback to Consumer Affairs Victoria on the draft Estate Agents (Professional Conduct) Regulations 2018. The submission raised significant concerns about duplication, clarity, and practicality, noting that many of the proposed provisions repeated existing obligations under the Estate Agents Act 1980, the Residential Tenancies Act 1997, and the Australian Consumer Law. 

Key recommendations included: 

• Removing duplicated obligations already addressed under the Australian Consumer Law and other property legislation 

• Retaining the existing “act fairly and honestly” requirement without adding unnecessary terms such as “in good faith” 

• Clarifying the scope of agents’ maintenance responsibilities under management agreements 

• Deleting or revising provisions that created ambiguity or compliance risks for agents and property managers 

• Ensuring dispute resolution requirements balance accountability with workplace safety for agency staff 

The REIV called for a more streamlined and coherent set of conduct regulations that maintain integrity and consumer protection without imposing unnecessary administrative overlap or confusion.