Seller's reserve price to be published for at least 7 days before auction or fixed-date sale
47AH Seller's reserve price to be published for at least 7 days before auction or fixed-date sale
S. 47AH inserted by No. 36/2026 s. 26.
At least 7 days before an auction or fixed‑date sale of residential property and until the auction or fixed-date sale, an estate agent or agent's representative must—
include the seller's reserve price for the property in any advertisement that—
contains an advertised price other than the seller's reserve price; and
is not an advertisement referred to in section 47AF(5) or (5A); and
prominently include the seller's reserve price for the property in any advertisement for the sale of the residential property referred to in section 47AF(5) or (5A).
Penalty: 240 penalty units.
A seller's reserve price published under subsection (1) must—
be expressed as a single dollar amount; and
not be modified by words or symbols.
Example
Examples of words or symbols that may modify a price are—"from", "over", "starting at" or "+".
This Act’s bill:Second reading speech
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