Marking six months of the NSW Government’s Name and Shame Register, NSW Fair Trading’s Strata and Property Taskforce has covertly blitzed open homes across NSW to identify agents engaging in underquoting and other breaches of property sales laws.
Underquoting occurs when a real estate agent advertises or represents a property at a price lower than their reasonable estimate of its likely selling price, potentially attracting buyers to properties outside their realistic price range.
Ahead of the spring selling season, the Taskforce attended almost 80 open home inspections over the past two months. This resulted in 10 agents being issued with fines valued at a total of $20,900, alongside five warnings and 16 education directives.
Posing as prospective buyers, inspectors attended open homes before reviewing agency sales records, vendor feedback and advertising material to determine whether price information provided to consumers was accurate and consistent with agency records.
The operation identified a range of alleged underquoting, consumer protection and record-keeping breaches.
In one matter, an agent was fined for telling prospective buyers a property was expected to sell for $3.65 million. However, a review found the agency’s own records estimated the property’s value at between $4 million and $4.4 million, while online advertising used a $4 million search price.
In another case, an agent was issued a warning for recording and reporting purchaser feedback that did not accurately reflect conversations that took place during an open home inspection. Such behaviour has the potential to mislead sellers about buyer sentiment and price expectations.
The operation builds on NSW Government reforms to strengthen the state’s underquoting laws.
The Property and Stock Agents Amendment (Underquoting and Other Agent Conduct) Act 2026 received assent on 29 June 2026. Some reforms, including increased penalties and stronger Fair Trading enforcement powers, commenced immediately, while further changes are expected to begin later in 2026 following consultation on supporting regulations.
The operation also marks the first six months of the NSW Fair Trading Name and Shame Register, which has recorded 118,000 visits since February. The Register provides a publicly accessible record of regulatory and enforcement action taken against real estate agents, strata managing agents and agencies.
The NSW Government has invested $8.4 million in the Strata and Property Taskforce, bringing together specialist inspectors, investigators and dispute resolution experts to target misconduct and improve professional standards across the property sector.
NSW Fair Trading said it will continue to target property professionals who fail to meet their legal obligations and undermine consumer confidence.
Minister for Better Regulation and Fair Trading Anoulack Chanthivong said buying a home was one of the biggest financial decisions consumers make and buyers deserved confidence that price information was accurate and transparent.
Strata and Property Services Commissioner Angus Abadee said stronger compliance benefited both consumers and agents who followed the rules, warning that Fair Trading officers could attend future open homes without notice.
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