One thing I’ve learnt over the years is that buyers don’t mind hearing news they don’t like.
What they do dislike is uncertainty.
Whether it’s understanding their borrowing capacity, knowing what a property is likely to sell for, or simply deciding whether a home is worth pursuing, most people just want enough information to make a confident decision.
That’s why the recent discussion around Victoria’s proposed auction reforms caught my attention.
The changes would require auction reserve prices to be disclosed before auction day, with the aim of creating greater transparency for buyers and reducing underquoting.
There are plenty of opinions on whether the reforms are the right approach, but they do highlight something that’s always been important when it comes to property.
Clarity matters.
And when buyers have a clearer understanding of where they stand, they’re often in a much better position to move forward with confidence.
Why Transparency Matters
For years, underquoting has been one of the most talked-about topics in Victoria’s property market.
Most buyers have either experienced it themselves or know someone who has.
A property appears to sit comfortably within budget, only for expectations to shift significantly once the campaign is underway.
The Victorian Government’s proposed auction reforms aim to address that by requiring reserve prices to be publicly disclosed before auction day, giving buyers a clearer indication of a seller’s expectations. The reforms are intended to improve transparency and help reduce underquoting across the market.
Whether the changes ultimately achieve that remains to be seen.
What they do reinforce, however, is the value buyers place on clear and reliable information.
Because purchasing a property is one of the biggest financial decisions most people will ever make.
The more certainty buyers have around pricing, borrowing capacity and the overall process, the easier it becomes to make informed decisions and avoid wasting valuable time.
What Greater Transparency Can Help Buyers Do
 Set realistic expectations Knowing a property’s reserve price earlier can help buyers understand whether it genuinely fits within their budget and avoid chasing opportunities that may never have been within reach. |  Understand Their Budget Position Greater transparency allows buyers to compare their borrowing capacity against seller expectations, helping them make more informed financial decisions from the outset. |
 Focus On Suitable Properties With a clearer indication of price expectations, buyers can spend more time inspecting homes that align with their goals and less time pursuing properties outside their target range. |  Reduce Wasted Time Fewer surprises on auction day can mean less time spent attending inspections, arranging finance and preparing for properties that ultimately fall well beyond expectations. |
At its core, this conversation isn’t really about auction reserves.
It’s about confidence.
Buyers who understand their position are generally better equipped to make decisions, have more productive conversations and move through the process with less stress.
And while regulations, markets and buying conditions will continue to evolve, that principle rarely changes.
Clear information helps people make better decisions.
Thanks again for your continued support and partnership. We genuinely appreciate the role you play in helping clients take the next step in their property journey, and we’re proud to be part of that process alongside you.
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