Underquoting Taskforce targets 50+ auctions in Melbourne’s north-east

Consumer Affairs Victoria’s (CAV) Underquoting Taskforce attended more than 50 auctions in the Doncaster area over the weekend.

The inspections began on Saturday morning, with taskforce officers checking that auction and sales rules were being followed, and monitoring for potential underquoting. Officers spoke with real estate agents and consumers as part of their work.

Since its launch in 2022, the taskforce has issued more than 220 official warnings and more than $1.8 million in fines to real estate agencies caught breaching their obligations. The taskforce has monitored more than 2,300 sales campaigns and gone to more than 220 auctions.

Taskforce investigations have resulted in criminal and civil proceedings.

Underquoting is a still a problem in Melbourne’s property market and is one of the top real estate issues reported to CAV. They’ve had more than 3,740 complaints from purchasers, estate agents, and buyers’ advocates. The taskforce uses these reports and other intelligence to identify agents who may be breaking the law.

For more information about underquoting, visit the CAV website.

Consumer Affairs Victoria is part of the Department of Government Services.