The Property Price Statement, and quoting one honest number

What goes on it

• Your indicative price — one figure, or a range no wider than 10%.
• The comparable sales — the three most comparable, with the key features of each, or a statement if you used fewer than three.
• The key features of the property itself, and the suburb median for the same property type.
• The seller’s reserve, once you have it — for auctions and fixed-date sales, at least 7 days before the day (see the 7-day reserve rule).
• The sold price, once the sale is unconditional.

Building the estimate in metropolitan Melbourne

• The estimate has to be reasonable and take into account the three most comparable properties. Only one or two? Use those. None? It still has to be reasonable.
• In metropolitan Melbourne, comparables are sales of a similar standard and condition, sold in the last 6 months and within 2 km. (Outside metropolitan Melbourne: the last 18 months, within 5 km.)
• A confidentiality agreement can’t be used to avoid providing the three most comparable sales.
• The estimate — one figure, or a range of up to 10% — goes in the sales authority.

Write down why you chose each comparable as you choose it. If you’re ever asked to justify the estimate, that note is your answer.

Where buyers must be able to see it

• At every open for inspection.
• On the main online listing — shown or linked immediately next to the advertised price, on the first part of the listing a buyer sees.
• On boards and printed advertising, as a QR code or link.
• To any prospective buyer who asks, within 2 business days.

The advertising floor

• The advertised price can’t be below your estimated selling price, the seller’s asking price (if they gave you one), or a written offer the seller has rejected.
• No qualifiers — no “offers above”, “from” or “+”.
• If your estimate changes, or the seller rejects a higher written offer, update online advertising within 1 business day and everything else as soon as you practically can.

After the sale

• Publish the sold price on the Property Price Statement within 7 days of the sale going unconditional.
• It stays online, free to view, for at least 18 months.
• It applies to sales that go unconditional on or after 1 October 2026 — unless the agency agreement was signed before then and includes a term that the price won’t be disclosed. Consumer Affairs Victoria can grant an exemption in family or personal violence circumstances.

One number, said the same way to everyone

A number bought to win the listing goes in the sales authority, sets the floor for your advertising, and becomes the price conversation you lose in week three. One honest estimate — the same to the seller and to the market, built from the three closest sales — is the one you can stand behind for the whole campaign.

How Sidekick helps

Log the range you quoted at every appraisal. On each campaign, record the comparable sales with your reason for choosing each one, and update the seller’s expectation whenever it moves — so the coaching works from the real numbers. When the sale goes unconditional, mark it sold and the result goes onto your own track record.