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Today, I called 4 auctions and sold 2. Last week, it was two from two.

Buyer activity is improving, but rising stock and the threat of further interest-rate increases could kill the momentum.

My advice to sellers: if you have a qualified buyer today, be very careful about losing them over another $20,000. Their finance approval and borrowing capacity may look very different in 90 days.

And for first-home buyers, waiting for prices to fall could backfire if your borrowing capacity falls even faster.

The market may be showing signs of life, but rate rises could stop the recovery before it gets going.

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Victoria’s auction rules are changing, and agents need to understand exactly what changes in practice.

In this session with REIV CEO Toby Balazs, you’ll learn about:

• The new Property Price Statement
• The seven-day reserve disclosure requirements
• What happens with pre-auction offers
• When a private sale can become a fixed-date sale, and
• What vendors can and can’t do with their reserve on auction day.

You’ll also get practical guidance on paper trails, compliance, vendor bidding, offers prior to auction and the scenarios most likely to catch agents off guard.

Resources:
- Real Estate Institute of Victoria (REIV)
- Victorian Consumer Affairs (CAV) Guidelines and Resources

**Disclaimer:** This content is for general educational purposes only and does not constitute legal, financial or professional advice. Information and opinions were current at the time of recording. Please verify all requirements with Consumer Affairs Victoria, the REIV or a qualified adviser before acting. To the extent permitted by law, Tom Panos Pty Ltd accepts no liability for any loss arising from reliance on this content.

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Learn how to protect property transactions in a tougher market. Jared Zak explains the tenfold rise in buyer defaults, the risks of buying before selling, subject-to-sale and sunset clauses, deposit flicking, and a FREE AI contract review tool: https://www.dottandcrossitt.com.au/services/first-review

This is essential viewing for agents who want to reduce risk, protect clients and do the right thing.

• 00:00 – Introduction and market overview
• 02:17 – Why more property deals are falling apart
• 03:45 – Buyer defaults have increased tenfold
• 04:40 – What happens when a buyer defaults?
• 06:01 – The risks of accepting a 5% deposit
• 07:17 – Can an auction sale include a cooling-off period?
• 09:47 – The dangers of buying before selling
• 13:15 – How subject-to-sale clauses protect buyers
• 14:55 – How sunset clauses protect vendors
• 16:34 – The risks of chained property transactions
• 21:03 – What is deposit flicking?
• 24:38 – Who is liable if the deposit disappears?
• 25:52 – Free AI tool for reviewing property contracts: https://www.dottandcrossitt.com.au/services/first-review
• 28:35 – Victoria’s new auction rules from October 1
• 32:53 – Falling sales volumes and the industry-wide impact
• 34:39 – Compliance is crushing agent productivity

Jared Zak is the Principal Solicitor & Founder of Dott & Crossitt. He has around 20 years of experience in law and finance.

This is sponsored by LocalAgentFinder


*DISCLAIMER: The information provided in this video is for educational purposes only and does not constitute personal legal advice. Tom Panos Pty Ltd does not accept any liability for decisions made based on the information provided and strongly encourages viewers to seek independent professional legal advice tailored to their specific circumstances.