An earlier conversation, with fewer surprises
If the reserve discussion has usually sat near the end of your campaign, it’s time to move it forward. Victoria’s incoming disclosure requirements make the timing of your vendor advice, written instructions and advertising updates an important part of campaign planning.
The new rules commence on 1 October 2026 and apply to auctions and fixed-date sales held from 16 October. For relevant agent-managed residential sales, the reserve must be published at least seven days beforehand. Ordinary private sales without a fixed date are outside that reserve-publication requirement.
Focus on two linked tasks: helping your vendor understand the recommendation and their options, then making sure the confirmed instructions reach every part of the campaign.
Give your vendor a clear recommendation
Under the new process, the agent asks for the reserve in writing. The request includes a recommended reserve and reasons for it, explains that it must be a single dollar amount, and sets out how the seller can respond. The seller can accept with signed confirmation, request another recommendation or nominate their own amount with signed confirmation.
Bring the relevant comparable sales to the discussion and explain how condition, layout and location support your recommendation. If the vendor has a different figure in mind, work through the evidence together. A specific explanation is more useful than “the market feels stronger”.
Ask about practical priorities, such as settlement timing or a planned move, and record them separately from the evidence supporting your price recommendation. It helps your team understand the vendor’s circumstances without confusing those preferences with market value.
Build the seven days into the calendar
Once set, the reserve must flow into the advertising as a single amount, without “from”, “over” or a plus sign. CAV says the relevant sale cannot proceed without the full publication period. Online advertising must be updated within one business day of receiving the reserve.
A practical campaign schedule works backwards from the auction date. Leave space for the seller to consider the recommendation, give instructions and resolve questions. Then allow the team time to update the materials. That is much easier than discovering a missing approval while a board or brochure is already being produced.
Keep a simple list of where price information appears: the property portals, agency website, printed materials and any scheduled campaign content. Assign someone to check that each version reflects the approved information. A conversation in the office doesn’t automatically update an advertisement.
What if the seller changes their mind?
CAV’s guidance says a change to the published reserve before the auction or fixed-date sale restarts the seven-day period, whether the amount rises or falls. The sale date may therefore need to move. Changes during an auction are treated differently; make sure your team understands the distinction before advising the vendor.
Talk through likely scenarios with your vendor early. What if buyer feedback is weaker than expected? What if an offer arrives before auction? Explain the options and any timetable consequences before there is pressure to decide quickly, and keep a record of the instructions you receive.
When answering buyer enquiries, explain what the published reserve represents without presenting it as a valuation or a guaranteed final result. Keep your responses consistent with the current campaign information and refer contract or finance questions to the appropriate adviser.
Where the marketing team fits
When briefing Scandipik on photography, floor plans, video or tours, give us clear production dates and approved property information. Keep price recommendations and vendor instructions within your agency’s process, and pass on approved wording when it needs to appear in commissioned material.
Before launch, check that the property description, visuals and pricing documents all belong to the same current campaign. Keeping a dated approved version gives the team something reliable to work from.
- Book the reserve discussion before the deadline gets close.
- Explain and document the evidence behind your recommendation.
- Allow time for written instructions and advertising updates.
- Check the timetable before changing a published reserve.
Disclaimer: This article provides general information only and does not constitute legal, financial, property or other professional advice. While we aim to keep information accurate, we do not guarantee its accuracy, completeness or currency. Laws and market conditions may change. You should independently verify information and seek advice from a suitably qualified professional before acting on it.