Real estate ads in NSW will have to show a price or price range from 17 November, as new underquoting laws take effect.
Agents will need to update online ads within one business day if the displayed price no longer complies, such as when an offer is rejected as too low or a property is passed in at auction.
They must also base price estimates on the three most comparable sales and keep records showing how they got there. Penalties rise to $110,000 or three times the agent’s commission, whichever is greater.
From 8 February 2027, agents will also need a Statement of Information showing the comparable sales behind their price guide.
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