The Minns Labor Government plans to revamp the state's underquoting regulations, initiating consultations on proposed reforms to enhance professional standards in the real estate industry, increase transparency in property listings, and bolster buyer confidence.  The proposed changes aim to address misleading price estimates in property listings, known as underquoting, which cause buyers to waste time and money on homes beyond their reach. 

From now on, Queensland’s new Seller Disclosure regime is officially in force, requiring a completed Form 2 Seller Disclosure Statement to be provided before property contracts can be signed. The change affects every residential, commercial and rural transaction under $10 million state-wide, and agents and sellers alike are scrambling to stay compliant.