No more ‘contact agent’ – NSW Fair Trading is shaking up the way properties are priced and advertised, with clearer guidelines and greater accountability from this month.
So what are the changes?
A focus on reliable advertised prices
Found a property you love, only to be left guessing what it’s actually worth?
That will change from the 17th November 2026, when all residential property sale advertisements will be required to display a selling price or price range. This applies to property portals, websites, social media and email.
For buyers, it means less guesswork; for sellers and agents, it means getting the price right from the outset.
Price guides need to keep up.
Under the new rules, agents cannot advertise below:
- Their current estimated selling price
- The highest genuine bid if a property passes at auction (excluding vendor bids)
- A written offer rejected by the seller solely due to the amount being too low.
For instance, if your home is advertised at $1,100,000 and you reject a written offer of $1,105,000, your agent can no longer continue advertising below that offer.
Comparable sales in setting a price
With the new changes, agents are required to consider the three most comparable sales when setting or revising an estimated selling price.
Search parameters include:
- Metropolitan areas: Within 2km, sold in the past 6 months
- Non-metropolitan areas: Within 5kms, sold in the past 18 months
A comparable sale takes into account the property size, land area, condition, layout, location and features, which all come into play – and additional search requirements apply if three suitable sales can’t be found.
Choose the right agent
For sellers, the responsibility for complying with the new rules largely sits with your agent. As the new rules mean more transparency around how your property is priced, it’s worth remembering:
- How they arrived at the guide
- Which sales support their estimate.
Every successful sale starts with the right advice, an informed strategy and clear understanding of where your home sits in the current market – contact your local Prudential Real Estate office below to find out.
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
