Brett Warren , National Director – Metropole Group
Buying property in Sydney has always been a challenge – prices are high, competition is fierce, and transparency hasn’t always been clear.
That’s why the NSW Government’s proposed crackdown on underquoting is worth paying attention to.
Underquoting happens when agents advertise a property at a lower price than they expect it to sell for. Buyers waste time and money chasing homes that were never really in their budget. The new reforms aim to fix that by lifting professional standards and making price guides more accurate.
Here’s what’s on the table: penalties for underquoting could jump from $22,000 to $110,000 or three times the agent’s commission.
Agents would also need to publish a Statement of Information, showing how they calculated the selling price, including comparable sales and suburb medians. And importantly, price guides would have to be updated promptly if offers are rejected.
For Sydney homebuyers, this could mean less frustration and more confidence that the properties they’re inspecting are genuinely within reach. It won’t make affordability challenges disappear – median values are still north of $1.2 million – but it should reduce wasted weekends and emotional rollercoasters.
For investors, the reforms are equally significant. Transparency around pricing helps you make clearer decisions and reduces the risk of overpaying in a heated market. It also means the playing field is fairer, with agents held accountable for misleading advertising.
The bottom line: tougher underquoting laws won’t solve Sydney’s affordability issues, but they will improve trust and efficiency in the buying process.
Whether you’re a homebuyer or seasoned investor, clearer price signals make it easier to plan, budget, and act strategically. We see these reforms as another reminder that informed, strategic decisions – not speculation – are the key to building wealth in Sydney’s property market.
