Major Advocacy Areas
Due to the scope and complexity of the Sale of Land Act, the REIV has advocated on and documented diverse policy positions and issues. This is not an exhaustive list of matters under consideration or engagement by the REIV.
Sale of Land Act 1962
The Sale of Land Act 1962 provides the legal framework governing the sale process, contractual obligations, disclosure obligations, and consumer protections for Victorian property transactions.
Overview
The Sale of Land Act 1962 regulates land sales in Victoria, setting out the rights and responsibilities of vendors, purchasers, and sale agents, among other stakeholders, involved in property transactions. It establishes key requirements for contracts of sale, mandatory disclosure obligations (including vendor statements), cooling-off rights, off-the-plan sales, and protections against misleading or deceptive conduct. The Act also prescribes legislative requirements regarding deposits, sunset clauses, terms and conditions, and the subdivision and marketing of land, ensuring transparency and fairness throughout the transactional process.
Together with the Sale of Land (Public Auction) Regulations 2024, the legislation and regulatory framework underpins consumer confidence and legal clarity in Victoria’s property market by ensuring that land sales are conducted lawfully and transparently.
At a Glance
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The Sale of Land Act 1962 regulates the sale, marketing, and contractual requirements for land transactions in Victoria.
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The Act and Regulations establish disclosure obligations, consumer protections, and safeguards governing deposits, off-the-plan sales, and contract conditions.
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The REIV advocates for reforms that enhance transparency, support fair and efficient transactions, and uphold strong consumer protections while ensuring a well-functioning property market.
Key Documents
Sale of Land Act 1962
Provides the legal framework governing land sale transactions in Victoria, including disclosure obligations, contract requirements, and key consumer protections.
Sale of Land (Public Auctions) Regulation 2024
Sets the mandatory rules and conduct standards for how public property auctions must be run in Victoria
Preparing to sell your property?
Offers practical and legal guidance to vendors on disclosure duties, property preparation, and working with agents when selling a home.
Sale of Land (Public Auctions) Regulations 2014 Sunsetting
April 2024
In April 2024, the REIV lodged a submission to the Victorian Government recommending targeted updates to the Sale of Land (Public Auctions) Regulations 2014 to ensure auction processes reflect contemporary consumer expectations and modern digital practice. The submission highlighted that existing legislative requirements, particularly those mandating the physical display of auction rules, conditions, and related documentation, are outdated, inconsistent with current online engagement practices, and impose unnecessary compliance and environmental burdens on agents.
Key recommendations included:
Allow all mandatory auction documents to be provided digitally, via QR codes, links, or email, with printed copies only supplied on request.
Modernise outdated rules to reflect how buyers now access information online, improving accessibility, convenience, and inclusivity.
Reduce unnecessary printing and waste by removing the requirement for physical document display at auction while ensuring buyers can easily review information in advance.
The REIV reiterated its commitment to working with the government as the Regulations approach their June 2024 sunset date, advocating for simple, practical reform that modernises auction practice, enhances accessibility, and benefits buyers, vendors, and agents across Victoria.
Ultimately, the government chose not to adopt the REIV’s recommendations.
Material Fact Guidelines Review
January 2020
In January 2020, the REIV provided a detailed submission to the Victorian Government on the draft Material Fact Guidelines issued under the Sale of Land Amendment Act 2019, expressing significant concerns about their clarity, scope, and practical effect. The REIV did not support the Guidelines in their current form, recommending a comprehensive redraft and further consultation. The submission highlighted that the legislation places the determination of a “material fact” with the courts. However, the breadth and complexity of the Guidelines risk creating uncertainty, inconsistency, and unreasonable expectations for vendors, estate agents, and others acting on behalf of a vendor.
Key concerns raised by the REIV included:
The Guidelines use the term agent inconsistently, creating unclear and unrealistic obligations.
The proposed rules place too much responsibility on estate agents and auctioneers, increasing their legal risk.
The issues with Section 32 disclosure require structural reform, not broad or vague new Guidelines.
At the time, the REIV reaffirmed its commitment to working with the government to redesign the Material Fact Guidelines to provide transparent, fair, and workable obligations for all parties, protect consumers, and avoid exposing estate agents to unreasonable legal and operational risks.