My Condolences to Victorian Property Owners

If you own property in Victoria, you may want to sit down. And possibly pour a drink.

Because the Victorian Government has unveiled a new “transparency initiative” that — in true Victorian style — manages to sound great on the news but lands nowhere near reality. The plan? Force vendors to publish their reserve price seven days before auction day.

Yes.

A full week.

Before the moment when market feedback actually becomes meaningful.

As a South Australian agent watching from a safe distance, all I can offer is:

my sincerest condolences.

Why This Policy Completely Misses the Point

Real estate is a free market. Prices move. Buyers move. Vendor expectations move.

What doesn’t move? Government policy.

Reserves are shaped by: buyer feedback, registration numbers, competition ,campaign momentum and changing vendor circumstances.

Freezing the reserve price a week out removes the very flexibility vendors rely on to make informed decisions about their biggest financial asset.

It’s like forcing someone to predict the weather a week ahead — and then blaming them when it rains.

The Government Did Consult… They Just Didn’t Listen

Industry experts did provide feedback.

They explained that: reserve prices are dynamic, campaign conditions change daily ,vendors need adaptability and transparency already exists through legal documentation

And yet, the final policy suggests that this feedback was acknowledged politely… then promptly ignored.

Victoria Already Has Tools to Monitor Underquoting

Instead of inventing a rigid, unrealistic rule, regulators could have simply used the tools already available: price ranges, statements of information, comparable sales, contract data, final sales results,

No shortage of data., Just a shortage of policy common sense.

A Better Solution Exists (Shocking, I Know)

If transparency is the goal, here’s a radical idea:

👉 Publish the reserve on auction day. ( I am not a big fan of this but if it has to be then this better than 7days)

Buyers get clarity.

Vendors keep flexibility.

The free market keeps functioning.

Everyone wins.

Even the government could claim victory — and this time, it might even be true.

Final Thoughts (and More Condolences)

This proposal may be well intentioned, but it fails to reflect:, how vendors make decisions, how markets actually behave, how auctions really function and how people’s lives change weekly

To all Victorian vendors:

I feel for you. Truly.

Not because your home lacks value — but because your government thinks it knows the value better than you do.

If you’re in South Australia and want actual market-driven advice — without the policy circus — I’m always here to help.

Stay connected,

Clinton Barker Property — Powered by eXp Realty