Ep. 50 | Underquoting: Why These ‘Tough New Laws' Are Just Window Dressings?

Underquoting has been a frustrating reality of the Melbourne property market for years, but as of November 2025, new regulations are attempting to change the game. The question is: will they actually make a difference, or just add more complexity without solving the problem?In this episode of Buying Melbourne, Tristan Larkin and James Rankin dissect the new underquoting laws that have just come into effect in Victoria. With over 5,000 complaints received by the Underquoting Task Force since its launch, Consumer Affairs has introduced stricter guidelines for how agents must select comparable properties and set price expectations.Tristan and James break down exactly what's changed, why agents have been getting away with misleading quotes for so long, and whether these new rules will actually protect buyers. They also share real examples of recent sales, reveal which suburbs consistently underquote by $200,000-$400,000, and explain the tactics you need to know to avoid getting caught out.What You'll Learn:The specific changes to Statement of Information requirements as of November 2025Why agents were using properties on main roads to quote properties in quiet courtsHow to spot underquoting by tracking where passed-in properties are re-advertisedWhich Melbourne suburbs consistently underquote by $200K-$400K above the quoted rangeWhy outer eastern suburbs tend to quote more accurately than inner Melbourne areasThe subjective factors that make the new architectural and renovation rules hard to policeHow clearance rates at 54.3% indicate current Melbourne market strengthIf you're buying property in Melbourne right now, understanding how underquoting works and how to read between the lines of price guides is essential knowledge that could save you from wasting time on properties you'll never be able to afford or missing opportunities in your actual price range.👋 About the ShowBuying Melbourne is Melbourne’s go-to podcast for buyers who want to make smarter property decisions. Hosted by Tristan Larkin and James Rankin from Tomii Property, we bring you expert tips, market insights, and real stories from the frontlines of real estate, finance, and construction. Auctions, rates, off-markets - we’ve got you covered.🔗 Resources & LinksJoin our mailing list & read the blog → www.tomii.com.auSubscribe for weekly auction results → www.tomii.com.au/auction-resultsFollow Tristan on TikTok & Instagram → @tristanlarkinFollow James on TikTok & Instagram → @james__rankin