The Journal of the Real Estate Institute of Victoria AUGUST 2026 VOL 90 / NO 02
GIVING MEMBERS A VOICE
The REIV ramps up advocacy for the industry during state election year
ELECTION PRIORITIES
Push for policy that boosts Victoria’s property market
NEW RULES FOR THE BLA
Important update on myCAV registration for agents’ representatives
MANDATORY CPD EXPLAINED Get into the rhythm before requirements commence April 2027
Contents The Estate Agent is published by the Real Estate Institute of Victoria. President’s report
04
CEO’s report
08
myCAV registration for agents’ representatives
11
AML/CTF FAQs: Your questions answered
12
Owner-builder sales
14
Mandatory CPD explained
16
Data insights
17
Professional Indemnity insurance
20
REIV NextGen
24
New members
28
Member milestones
30
Obituary
33
Publisher REIV 617 Victoria Street, Abbotsford VIC 3067 Editor Sarika Bhalla sbhalla@reiv.com.au Production by Pagemasters
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08 CEO’s report
14
Owner-builder sales: New rules from 1 July
11
myCAV registration for agents’ representatives
23
The Staff Subscriber benefit
26
National Property Managers Day
Unless otherwise specifically expressed, the views or opinions appearing in The Estate Agent (EA) are those of the authors and do not represent the views of The Real Estate Institute of Victoria Ltd (REIV). The REIV gives no warranty about the accuracy, completeness, or reliability of the content of EA. The entire content is general information only. It is not advice or intended as advice and in no circumstances should be relied upon as such. Readers and third parties should verify the content and seek their own independent advice before making any decisions, financial or otherwise, based on what they have seen or read in EA. The REIV and EA do not endorse or take any responsibility for material on third party websites referred to in the EA.
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POLICIES, NOT PARTIES Recently, the REIV took the unprecedented, yet deliberate step of publicly standing with the Victorian Opposition to seek major changes to the Consumer Legislation Amendment Bill 2026.
PRESIDENT’S REPORT Jacob Caine, REIV President
Some members may reasonably ask how that decision was reached given the REIV’s longstanding bipartisan stance. My answer is simple. Bipartisanship does not mean passivity, and political independence does not require silence or false equivalence. The REIV does not exist to preserve an appearance of equal distance from every political party. We exist to represent our members, our clients and anyone who touches property in Victoria. We contribute practical expertise and advocate for policies that produce better outcomes for buyers, sellers, renters, property owners and the broader Victorian community. Our support should always follow the quality of the policy, not the colour of the political banner. It’s important to be precise about what occurred. The REIV has not given any political party a blanket endorsement. We stood with the Opposition on a specific and consequential piece of legislation because it supported our call for the Bill to be substantially amended. That position was not reached hastily. Following public concern about underquoting, the REIV convened a Strategic Working Group comprising agents, auctioneers, business owners and buyer advocates. Its work produced a detailed Blueprint for Marketing of Residential Real Estate in Victoria. The Blueprint does not defend underquoting. The REIV condemns underquoting because it is unlawful, damages consumer confidence and diminishes the reputation of our profession. CONTINUED ON PAGE 07 >>
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AUGUST 2026 PRESIDENT’S REPORT CONTINUED FROM PAGE 04 >>
Instead, we proposed a stronger and more comprehensive transparency framework. This included requiring a vendor’s reserve to fall within the advertised 10 per cent price range three clear business days before an auction, publishing sale prices once contracts become unconditional, improving comparable-sales requirements, including building and pest reports in Section 32 statements, introducing mandatory bidder registration and strengthening enforcement against repeat offenders.
with decision-makers and wrote to every member of Parliament. Where we identified a problem, we also proposed a workable alternative.
When the Government adopted our recommendation on building and pest reports, we welcomed it. And to my mind, that is precisely what genuine bipartisanship looks like: recognising and applauding good policy wherever it comes from.
There is also broader alignment between several of the Opposition’s announced property policies and the priorities presented in the REIV’s 2026 election platform, Fixing the Foundations. These include increasing stamp duty assistance for first-home buyers, reducing the property tax burden, restoring investor confidence and removing unnecessary barriers to housing supply.
Unfortunately, much of the Consumer Legislation Amendment Bill does not reflect the same practical engagement. The proposed seven-day publication of a single reserve price risks encouraging inflated reserves, more pre-auction sales and fewer transparent public auctions. Independent research commissioned by the REIV found that 94 per cent of Victorian property owners would alter their selling strategy if required to publish a reserve seven days before auction. The Bill also contains provisions that could prevent willing and informed buyers and sellers from entering contracts unless the Section 32 statement has been available for 14 days. It proposes removing the established statutory framework for the early release of deposits, creates uncertainty around agents receiving commission for services already delivered, and places legal obligations on agents for decisions that categorically belong to buyers and sellers. Throughout this process, the REIV has sought to work constructively with the Government. We developed detailed recommendations, commissioned independent research, met
When that advice continued to be ignored, and the Opposition was prepared to support substantial amendments, standing together was not an abandonment of bipartisanship. It was an adherence to our mission - supporting the policies that deliver a healthier property ecosystem in Victoria.
That does not mean the REIV agrees with every Opposition policy, nor does it guarantee our support in the future. Each proposal must be judged on its merits. If the Government adopts practical, evidence-based reform, we will acknowledge and support it. If the Opposition advances a policy that would harm consumers, our members or the property market, we will challenge it with equal resolve. You, our members, do not expect the REIV to be a spectator. You expect us to use our expertise and understanding of the sector to the policy advocacy process and to speak clearly (and loudly) when proposed laws will not work in practice. Our door remains open to all parties. Our support, however, must be earned policy by policy.
Jacob Caine, REIV President
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AUGUST 2026 CEO’S REPORT
CEO’S REPORT TOBY BALAZS
A video update from the REIV Chief Executive Officer
WATCH NOW
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AUGUST 2026 CEO’S REPORT
CEO’S REPORT No ordinary election year for Victorian real estate The REIV congratulates Victoria’s new Premier Ben Carroll and Deputy Premier Gabrielle Williams. We look forward to having a productive relationship with the new leaders and cabinet. Over the past five years, investment confidence in Victoria’s property market has fallen as a result of burdensome policy settings and broader economic challenges. First-home buyers are being priced out of suburbs they want to live in, downsizers are reluctant to sell due to uncertain market conditions and high stamp duty costs, investors are exploring other avenues due to high regulations and taxes, rents are rising, and rental vacancy rates are at record lows. The REIV urges the new cabinet to focus on policy that makes Victoria’s property market an attractive place to invest, rather than continuing to pile on new costs and
he REIV urges the T new cabinet to focus on policy that makes Victoria’s property market an attractive place to invest, rather than continuing to pile on new costs and complex regulation.
complex regulation. The current Consumer Legislation Amendment Bill 2026 is a case in point. The Bill contains a range of gaps and impracticalities that will expose sellers, buyers, and agents to serious litigation risks and add unnecessary complexity to property transactions. As the peak representative body for real estate practitioners in Victoria, the REIV is deeply invested in helping to ensure the ongoing prosperity of the state’s property sector. CONTINUED ON PAGE 10 >>
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AUGUST 2026 CEO’S REPORT CONTINUED FROM PAGE 09 >>
Ahead of November’s state election, we also recognise the importance of articulating a clear vision for the sector, and a means of realising it that can help to enlighten public discourse and influence Government policy at a critical time.
THE REIV VISION A robust, resilient and professionally led Victorian property sector that inspires confidence, attracts investment, supports sustainable economic growth, delivers stable and accessible housing outcomes, and strengthens Victoria’s long-term prosperity. Earlier this year, we published our state election priorities. Headlined by a focus on greater residential property transaction price transparency, and more balanced tax and regulatory settings across residential and commercial real estate, the REIV’s election platform seeks, on behalf of its members, to realise the Institute’s vision of a professionally managed and robust Victorian property sector. This reform agenda draws on the unique insights our members gain from their dayto-day experiences with buyers, sellers, renters and other sector stakeholders. Importantly, it has also been informed by the results of a recently conducted, REIV commissioned independent survey of 1,000 Victorian adults – including key residential real estate sector cohorts in property owners, renters and rental providers. Or, in other words, Victorian voters. As such, the survey results can be seen to represent underlying proof points for a policy approach which is centred on
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striking the right balance between different stakeholder interests to ensure positive sector outcomes for all Victorians. STATE ELECTION PRIORITIES RESPONSE TO THE CONSUMER LEGISLATION AMENDMENT BILL 2026 BLUEPRINT FOR MARKETING REAL ESTATE IN VICTORIA Toby Balazs, REIV CEO
TRAINING AUGUST 2026
myCAV registration for agents’ representatives Mandatory registration for agents’ representatives commences 26 November, 2026. This simply means that all individuals qualified as an agents’ representative will now need to maintain their registration with the Business Licensing Authority, much like estate agents. This is being put in place to enable the management of mandatory CPD requirements effective 1 April, 2027.
WHAT YOU NEED TO DO BEFORE 26 NOVEMBER, 2026 Date
Employers
Agents’ representatives
By 23 November 2026
• E nsure that your agency registration on the BLA accurately lists all agents’ representatives employed by you.
• C ross check that you are correctly listed on the BLA, including the spelling of your name, and prompt your employer to update if required.
24 November 2026
• A gents’ representatives listed under an agency, will receive “deeming registration” and will not be required to pay the first year’s registration fee. • They will be automatically registered with the BLA and notified accordingly.
Commencing 26 November 2026
• C heck the registration status of any new employee, just as you would when employing a new licensed estate agent.
• On completing your Certificate IV, create a myCAV account and register with the BLA. Annual registration fees will apply.
All information regarding registration of agents’ representatives and Mandatory CPD is subject to change. The Estate Agent 11
BEST PRACTICE AUGUST 2026
AML/CTF FAQs: Your questions answered As at 31 July, 2026, 3,530 Victorian real estate businesses have enrolled with AUSTRAC. This is an encouraging milestone and demonstrates that our sector is embracing the new legislation. As members continue implementing their AML/CTF obligations, below are answers to some of the most frequently asked queries that may also assist your business. For further information refer to Austrac
I DON’T HANDLE TRUST MONEY. DO I STILL NEED TO ENROL FOR AML? Your AML/CTF obligations are determined by the real estate services you provide. You are providing a designated service when you broker the sale, purchase or transfer of real estate as part of carrying on a business. The relevant designated service under the Act is:
This means: • Real estate does not need to be bought or sold for consideration. Brokering the transfer of property without consideration is sufficient. • Both the buyer and seller (or transferee and transferor) are customers of the same reporting entity for the purposes of the designated service. For example, where a real estate agent acts for the seller and brokers the successful sale of a property, the agent’s customer is both the seller and the buyer. This means AML/CTF obligations apply in relation to both parties. Designated services relating to real estate regulate the sale, purchase and transfer of these interests, regardless of whether payment or other consideration is involved.
CAN I SIGN A CLIENT AUTHORITY BEFORE COMPLETING CUSTOMER DUE DILIGENCE (CDD)? It is important to remember that Customer Due Diligence (CDD) must be completed before the provision of designated real estate services. In practice, this will generally mean that the Verification of Identity (VOI) process and signing of the authority occur during the same meeting or at the same time. REIV VicForms 2.0 integrates a VOI tool, allowing for a seamless completion of the
TABLE 5 REAL ESTATE SERVICES Item
Provision of a designated service
Customer of the designated service
1
Brokering the sale, purchase or transfer of real estate on behalf of a buyer, seller, transferee or transferor in the course of carrying on a business
Both: (a) the seller or transferor; and (b) the buyer or transferee
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AUGUST 2026 BEST PRACTICE
Authority and VOI in one process. Where this is not possible, carefully review the terms of your authority before proceeding. An agency agreement can be signed before CDD is completed, provided that: • The agency does not commence providing any designated services until its AML/CTF obligations have been met; and • The agency agreement contains an explicit clause making it clear that designated services cannot commence until Customer Due Diligence has been completed. This allows agents to secure the agency agreement while completing the CDD process. REIV Authorities include provisions for this scenario. Where an authority does not contain this provision, it is recommended that CDD is completed before commencing the engagement, as there is a risk the authority could be interpreted as authorising designated services before AML obligations have been met.
I HAVE A BUYER WHO WON’T PROVIDE THE INFORMATION I NEED TO COMPLETE DUE DILIGENCE. WHAT CAN I DO? The selling agent must take all reasonable steps to complete their buyer due diligence obligations. The buyer is considered the “counter-party” for a selling agent. If a buyer refuses to provide the required information, ensure you thoroughly document the steps you have taken to obtain it. While the transaction may still proceed, it is critical that you can demonstrate the process you followed and the efforts made to complete buyer due diligence. This does not apply to your key client though i.e. a selling agent should not provide designated services to the vendor, where a vendor refuses to comply with AML obligations.
UPDATED AUTHORITIES ON REIV VICFORMS 2.0 From 1 July, 2026, the following REIV Authorities have been updated:
• • • •
001: General Sale Authority 002: Exclusive Sale Authority 003: Exclusive Auction Authority 007: Exclusive Expression of Interest Authority • 009: Exclusive Sale of Business Authority • 012: General Service Authority You must have an active REIV VicForms 2.0 subscription to access the updates. Please contact us on vicforms@reiv.com.au for any queries.
To support conversations with clients, the REIV has developed a client-facing AML/CTF flyer explaining the new requirements, why additional information may be requested and what clients can expect throughout the process. AML/CTF flyer for clients
HOW DO I DISCLOSE AND RECOVER SOME OF MY AML COMPLIANCE COSTS? Many agencies are considering whether costs associated with Verification of Identity (VOI), Customer Due Diligence (CDD) and other AML/ CTF compliance obligations can be passed on to clients as part of an agency engagement. To assist members, the REIV has developed an information sheet outlining the key considerations and the options available when determining the most appropriate approach for your business. For further information refer to Austrac
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BEST PRACTICE AUGUST 2026
Owner-builder sales: New rules from 1 July – what agents need to know If you’re selling a property where the vendor has carried out owner-builder works, there are a few important changes that have applied since 1 July which are worth keeping on your radar. The changes are designed to give purchasers greater protection, but they also mean agents need to be thinking about ownerbuilder requirements earlier in the sale process. A little planning upfront can help avoid delays once a property is ready to go to market.
START ASKING THE QUESTIONS EARLY One of the first questions to ask your vendor is whether they have completed any ownerbuilder works to the property and if so, when those works were carried out. If owner-builder works have been undertaken within the relevant disclosure period, there may be additional documents that need to be obtained before the property can be marketed.
I f owner-builder works have been undertaken within the relevant disclosure period, there may be additional documents that need to be obtained before the property can be marketed.
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Identifying this at the listing stage is much easier than discovering a week before photography or just before the sales campaign is due to launch.
THE PAPERWORK NOW MATTERS MORE THAN EVER Depending on the nature and value of the works, vendors may now need to obtain documents such as a Certificate of Consent and, where required, owner-builder insurance before the property is offered for sale. Importantly, these documents will also need to be included in the Vendor Statement (Section 32), meaning they cannot simply be obtained later in the campaign. As always, if there is any uncertainty about whether the requirements apply, vendors should obtain their own legal advice.
ALLOW MORE TIME BEFORE GOING TO MARKET One of the biggest practical changes is marketing. Obtaining owner-builder insurance is no longer something that can necessarily be organised as short notice. Current processing times can extend to several weeks, particularly where additional information is requested by the insurer. For agencies, this means campaign planning may need to commence earlier than previously expected. Leaving the
AUGUST 2026 XXXXXXXXX
conversation until contracts are being prepared could result in an unexpected delay to the advertising campaign.
DON’T ASSUME ALL OWNER-BUILDER WORKS ARE TREATED THE SAME Not every renovation triggers the same obligations. The requirements will depend on factors including the type of works undertaken, its value and whether it falls within the ownerbuilder regime. If your vendor is unsure, encourage them to speak to their conveyancer or solicitor as early as possible so any issues can be resolved before the property is listed.
REVIEW THE CONTRACT DOCUMENTATION CAREFULLY Before marketing commences, check that the vendor’s legal representative has considered the owner-builder requirements and included the necessary certificates, insurance documents and disclosures in the contract documentation. Having a complete contract from the outset minimises delays, reduces the likelihood of purchaser concerns during the due diligence process and makes for a smoother transaction.
THE KEY TAKEAWAY The new owner-builder regime doesn’t
fundamentally change the agent’s role, but it does mean earlier conversations with the vendor are more important than ever. By asking the right questions at the listing stage and encouraging vendors to engage their legal representatives early, agents can help identify any owner-builder requirements well before the property is ready for the market. A little preparation upfront can save weeks of delay later.
This article provides general information only and is intended as a practical guide for REIV members. It is not legal advice. As owner-builder requirements will depend on the particular circumstances of each property and the works undertaken, members should encourage vendors to obtain advice from their solicitor or conveyancer where required.
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TRAINING AUGUST 2026
Mandatory CPD explained The REIV has this covered. Mandatory CPD requirements commence 1 April, 2027. Get into the rhythm early. KEY ASPECTS:
• F ive activities: Each registered estate agent and agents’ representative must complete five CPD activities that meet the criteria below. • Minimum duration: Each activity must run for at least one hour, and two of the five must be from the BLA’s defined “mandatory topics”. • Mandatory topics: The BLA will publish mandatory topics for the year. Two of the five CPD activities must be from the mandatory topics. Activities to cover the topics must include an assessment. • Approved providers: To qualify, mandatory CPD must be delivered by one of the following; the REIV, an ASQA/VRQA-approved RTO that delivers CPP41419 / CPP51122, a party named in Schedule 5 of the Regulations, or an agent of the above. • Personal interaction required: Large conferences, self-study and pre-recorded webinars do not qualify. The learner and instructor must interact directly, online or in person.
• R elevance test: Content must relate to the learner’s area of work and support legislative compliance or a tangible improvement in consumer outcomes. • Assessment component: BLA-defined mandatory topics require a written assessment; the REIV is working with the BLA to confirm these. • Record keeping: Certification from the approved provider must be retained as proof of completion.
THE REIV CAN COME TO YOU REIV expert trainers can come into your office (or online, if you prefer) to close knowledge gaps or prepare your team for upcoming legislative change; from one-off intensive sessions to a program delivered over several months. Contact us to develop a bespoke program for your team.
Reach out to the REIV team and plan your team’s training calendar at cpd@reiv.com.au
KEY DATES Date
Applies to
What happens
26 November, 2026
Agents’ representatives
• B LA registration commences. All agents’ representatives will be required to self register with the BLA. • Registered agents’ representatives (as at 24 November, 2026) receive deemed registration.
1 April, 2027
Agents’ representatives and licensed estate agents
• Annual mandatory CPD requirements commence.
All information regarding registration of agents’ representatives and Mandatory CPD is subject to change. 16 The Estate Agent
AUGUST 2026 DATA INSIGHTS
Great savings across nearby suburbs and property types The latest REIV data for the 12 months to June 2026 shows that buyers can achieve significant savings by making small adjustments to where and what they purchase, without necessarily compromising on space.
For those looking for a house, considering neighbouring suburbs can deliver significant savings. For example, three-bedroom houses in Baxter (Mornington Peninsula) have a median price of $745,750 — nearly half that of neighbouring Mount Eliza. Similar savings are also observed in regional Victoria. For instance, Mount Duneed recorded a 5.9 per cent increase in CONTINUED ON PAGE 18 >>
CHART 1 ADJACENT SUBURBS WITH BIGGEST PRICE DIFFERENCE IN THREE-BED HOUSES
East Melbourne ($2,952,500) vs Collingwood ($1,330,000)
Difference: $1,622,500
Ivanhoe ($1,488,000) vs Heidelberg West ($795,000)
Difference: $693,000
Eaglemont ($2,285,000) vs Bulleen ($1,235,000)
Difference: $1,050,000
East Melbourne ($2,952,500) vs Richmond ($1,620,000)
Difference: $1,332,500
Mount Eliza ($1,300,000) vs Baxter ($745,750)
Difference: $554,250
Middle Park ($2,850,000) vs St Kilda ($1,650,000)
Difference: $1,200,000
Altona ($1,045,000) vs Laverton ($615,000)
Difference: $430,000
East Melbourne ($2,952,500) vs Carlton ($1,755,000)
Difference: $1,197,500
Toorak ($2,867,500) vs Prahran ($1,722,500)
Difference: $1,145,000
Williamstown ($1,516,250) vs Altona North ($917,500)
Difference: $598,750
0%
25%
50%
75%
100%
125%
Median price difference (%) – three-bed houses (neighbouring suburbs)
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DATA INSIGHTS AUGUST 2026
CONTINUED FROM PAGE 17 >>
median house price to $656,500 over the year, significantly more affordable than neighbouring Torquay ($1,040,000), which saw a 3.7 per cent decline over the same period. Further savings can be achieved by shifting property type. Buyers seeking a house may save more than 50 per cent by considering a unit or apartment with similar features in neighbouring suburbs. Shifting to unit or apartment living may involve some trade-offs, including smaller room sizes, limited outdoor space and strata fees, but it also offers benefits such as reduced exterior maintenance.
An analysis of median sale prices over the past financial year for three-bedroom houses and three-bedroom units/ apartments identified 24 metropolitan suburbs where unit prices were less than half those of neighbouring house markets. Carlton and Melbourne top the list, where buyers can find three-bedroom apartments priced over $1.8 million less than threebedroom houses in East Melbourne (median $2.95 million). City of Boroondara is another blue-chip area offering relative value. While the median price for a three-bedroom house in
CHART 2 A DJACENT SUBURBS WITH BIGGEST PRICE DIFFERENCE IN THREE-BED HOUSES VS THREE-BED UNITS East Melbourne ($2,952,500) vs Carlton ($1,110,000)
Difference: $1,842,500
East Melbourne ($2,952,500) vs Melbourne ($1,125,000)
Difference: $1,827,500
Eaglemont ($2,285,000) vs Heidelberg ($874,000)
Difference: $1,411,000
Albert Park ($2,553,000) vs South Melbourne ($1,057,500)
Difference: $1,495,500
East Melbourne ($2,952,500) vs Richmond ($1,286,000)
Difference: $1,666,500
Eaglemont ($2,285,000) vs Bulleen ($997,500)
Difference: $1,287,500
Toorak ($2,867,500) vs Hawthorn ($1,262,500)
Difference: $1,605,000
Surrey Hills ($1,840,000) vs Box Hill ($810,500)
Difference: $1,029,500
Albert Park ($2,553,000) vs Melbourne ($1,125,000)
Difference: $1,428,000
Middle Park ($2,850,000) vs St Kilda ($1,277,500)
Difference: $1,572,500
0%
25%
50%
75%
100%
Median price difference (%) – three-bed houses vs units
18 The Estate Agent
150%
175%
200%
AUGUST 2026 DATA INSIGHTS
TABLE 1 MOST AFFORDABLE METROPOLITAN SUBURBS FOR FOUR-BED HOUSES IN JUNE QUARTER 2026 Suburb
Median price
Quarterly change
Annual change
Municipality
MELTON SOUTH
$615,000
0.0%
2.5%
Melton
MELTON
$617,000
2.7%
18.7%
Melton
BROOKFIELD
$625,000
-0.8%
5.4%
Melton
THORNHILL PARK
$630,000
0.0%
3.3%
Melton
WEIR VIEWS
$631,250
1.0%
9.8%
Melton
WYNDHAM VALE
$640,000
-0.3%
2.4%
Wyndham
WOODSTOCK
$641,250
0.2%
-
Whittlesea
STRATHTULLOH
$649,000
-0.2%
1.4%
Melton
KURUNJANG
$650,000
-0.1%
14.0%
Melton
COBBLEBANK
$650,000
0.0%
2.4%
Melton
Canterbury sits at $2.8 million, neighbouring suburbs recorded median three-bedroom unit prices between $1.3 million and $1.4 million.
in outer suburbs have recorded stronger growth than their inner-city counterparts, highlighting a shift in demand towards larger homes in growth corridors.
More affordable options are also available in middle-ring areas. In Heidelberg, the median price for a three-bedroom unit is $874,000, compared to around $2.3 million for a house in nearby Eaglemont. Across the Yarra River, Bulleen offers a similar alternative, with three-bedroom units priced at a median of $997,500.
In the June quarter 2026, 34 metropolitan suburbs recorded a median sale price below $750,000 for four-bedroom houses, with 31 located in the outer ring. All but three suburbs recorded positive annual growth.
While buyers can achieve significant savings by shifting property type or purchasing in neighbouring suburbs, broader location choices also present opportunities. More affordable four-bedroom houses
The City of Melton stood out, accounting for 17 of these suburbs, with four recording double-digit annual growth. Melton itself saw prices rise 18.7 per cent, the 10th-highest among metropolitan suburbs. To get the full list of the suburbs, download the report (login required) or contact the research team at research@reiv.com.au.
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BEST PRACTICE AUGUST 2026
How good property management may help you achieve nil excess on claims
When something goes wrong in property management – a slip and fall, a maintenance dispute, or an alleged mismanagement issue – it’s often the policy excess that really stings. Even when you’ve tried to do everything right, you can still be left out of pocket. One of the standout benefits of Aon’s Professional Indemnity (PI) insurance for real estate is the potential to have your excess waived on eligible property management claims, where certain risk management criteria are met. For many agencies, that can mean real, tangible savings when it matters most. To unpack how this works in practice, Peter Lynch from Aon sat down with Michael Gapes, Partner at Carter Newell
20 The Estate Agent
Lawyers. Carter Newell has operated Aon’s professional indemnity legal hotline for over 30 years, and Michael has been closely involved for more than two decades, overseeing and triaging the team that supports real estate professionals when claims arise. In this video, Peter and Michael explore: • The five key requirements that may help agencies to qualify for a nil excess on property management claims. • The range of claims where the excess waiver can potentially apply – from slip and fall incidents to mismanagement and paperwork errors. • What “systems, processes and documentation” can look like in day-today property management. • Some common reasons agencies may not qualify for the nil excess benefit. CONTINUED ON PAGE 22 >>
AUGUST 2026 DATA INSIGHTS
You do everything right. Should you still pay the excess? With Professional Indemnity Insurance arranged through Aon, good risk management could mean $0 excess* on qualifying property management claims.
You put robust controls in place and follow the procedures. If you meet the policy’s risk management conditions, including correct agreements, inspection records and maintenance & repairs documentation the excess on eligible residential or commercial property management claims could be waived – subject to full policy terms and conditions. Good risk management. Zero excess on eligible claims*. Speak to Aon about Professional Indemnity Insurance today.
Contact Us Aon Real Estate Team au.realestate@aon.com 1300 734 274 © 2026 Aon Risk Services Australia Limited ABN 17 000 434 720 | AFSL 241141 (Aon) The information contained in this communication is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider your personal circumstances, as well as the relevant Product Disclosure Statement (if applicable), Target Market Determination and full policy terms and conditions available from Aon on request. All representations in this communication in relation to the insurance products Aon arranges are subject to full terms and conditions of the relevant policy. Please contact Aon if you have any queries. The Real Estate Agents Professional Indemnity insurance is arranged by Aon under a binder agreement on behalf of CGU Australia Pty Ltd (ABN 62 004 478 960) trading as CGU Insurance (CGU) AFSL 700014. When acting under a binder we will be acting as agent of CGU and not as your agent. Our binder arrangements with CGU are such that we remain your agent in the handling of any claim. If you purchase this insurance, Aon will receive a commission that is a percentage of the premium. Further information can be found in our FSG or provided upon request. *T&Cs apply. Please refer to policy wordings available at www.aondirect.com.au AFF0709-AU-2602
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BEST PRACTICE AUGUST 2026 CONTINUED FROM PAGE 20 >>
• How file quality and record keeping may have improved since the waiver was introduced, and what that could mean for today’s principals and property managers. Whether you’re already an Aon client or you’re hearing about this benefit for the first time, this short discussion explores how good risk management may help support both your professional standards and your bottom line.
WHAT THIS MEANS FOR YOUR AGENCY As Peter and Michael highlight, the excess waiver isn’t about adding new burdens – it’s about doing what good property managers should already be doing and being able to demonstrate it on file. In practice, that can mean: • Using an appropriate standard property management agreement • Keeping thorough inspection records that align with state or territory legislation • Properly documenting repair and maintenance requests • Showing that repairs and maintenance are acted on in a timely way • Engaging suitably qualified, licensed and insured contractors where required Agencies that have these systems embedded – and can evidence them – may be eligible to have their excess reduced to nil on a range of property management claims. For principals, this isn’t just about compliance – it’s about protecting your business and its cash flow. On larger claims, having the excess waived may result in a significant saving, reinforcing the value of
disciplined processes, good governance and clear documentation across your rent roll.
NEXT STEPS
• I f you’re an existing Aon client, consider using the five criteria discussed in the video as a quick health check on your current property management systems and file quality. Speak with your usual Aon contact if you’d like to understand how this benefit applies to your specific program. • If you’re not currently insured with Aon but want to explore PI cover that may reward strong risk management, contact Aon or speak with your industry association about how the Aon Real Estate PI offering may be able to support your business. By tightening your systems today and understanding how the excess waiver works, you may help place your agency in a stronger position when a claim arises – both from a risk management and a financial perspective.
HOW AON CAN HELP Our team can help you:
• U nderstand how the Excess Waiver feature works in practice • Review your current risk management procedures against policy conditions • Explore whether Professional Indemnity Insurance arranged through Aon is suitable for your business
CONTACT US TODAY! Speak to one of our dedicated Real Estate Brokers today on 1300 734 274 or via email at au.realestate@aon.com.
© 2026 Aon Risk Services Australia Limited ABN 17 000 434 720 | AFSL 241141 (Aon) The information contained in this communication is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider your personal circumstances, as well as the relevant Product Disclosure Statement (if applicable), Target Market Determination and full policy terms and conditions available from Aon on request. All representations in this communication in relation to the insurance products Aon arranges are subject to full terms and conditions of the relevant policy. Please contact Aon if you have any queries. The Real Estate Agents Professional Indemnity insurance is arranged by Aon under a binder agreement on behalf of CGU Australia Pty Ltd (ABN 62 004 478 960) trading as CGU Insurance (CGU) AFSL 700014. When acting under a binder we will be acting as agent of CGU and not as your agent. Our binder arrangements with CGU are such that we remain your agent in the handling of any claim. If you purchase this insurance, Aon will receive a commission that is a percentage of the premium. Further information can be found in our FSG or provided upon request.
22 The Estate Agent
AUGUST 2026 BEST PRACTICE
Message for OIECs Prepare your team for Mandatory CPD by setting them up as REIV Staff Subscribers As per the Estate Agent Education Regulations coming into effect soon, all agents’ representatives must be registered with the BLA from 25 November, 2026. This is in preparation for the Mandatory CPD Regulations effective 1 April, 2027. Every agency invests time in training and upskilling their employees, but an opportunity often overlooked is connecting them with the wider profession and their industry association. For REIV Office Members, the Staff Subscriber benefit gives eligible employees direct access to industry news, regulatory updates, professional development opportunities, expert guidance and member discounts at no additional cost to you or to them.
subscribers, now is an excellent time to do so. Login to your Member HUB and via the My Agency tab invite your team to subscribe. Registration takes only a few minutes, and once connected, your team can begin accessing the full range of available resources and benefits. Find out more
All information regarding registration of agents’ representatives and Mandatory CPD is subject to change.
If your office is an REIV member and hasn’t yet invited your staff to become
The Estate Agent 23
EVENTS AUGUST 2026
REIV NextGen helps build connections By Ella Harris, REIV Member
The idea for Next Gen came from something I noticed while building my own network. As a young professional, I quickly realised there was a real gap when it came to networking opportunities that genuinely appealed to the next generation of agents. Between the impact of COVID and the way our generation connects, many young people have missed out on building relationships outside of their own workplace. Yet those relationships are often what help shape a career. With the REIV bringing our industry together, it felt like the perfect opportunity to create a space where young agents could connect, learn from one another and build meaningful relationships. While we might work for different businesses, there is so much value in supporting each other, sharing ideas, referring business where we can and simply having people within the industry who understand the challenges and opportunities we all face. The launch event at The Osborne exceeded every expectation. Not only was the turnout incredible, but the energy in the room was what stood out most. It was full of people who genuinely wanted to be there, meet like-minded professionals and invest in their careers - because no one else is going to build your network or create opportunities for you.
24 The Estate Agent
This is only the beginning. Our vision for REIV Next Gen is to create a community that people genuinely want to be part of – not just because it’s good for business, but because it’s enjoyable. We’ll continue bringing together networking, professional development and social events that create real connections and lasting friendships. If you missed the launch, don’t worry - we’re only just getting started, and trust us, you’ll want to be at the next one.
AUGUST 2026 EVENTS
Level Up brought together a room full of ambitious young professionals, fresh ideas and genuine connections, marking the launch of the REIV Next Gen Network.
The Estate Agent 25
EVENTS AUGUST 2026
National Property Managers Day Inspired People. Stronger Industry. 31 July 2026 | Glasshaus Brucke, Richmond Property managers from across Victoria came together to connect, share experiences and celebrate the vital role they play in supporting clients, communities and the broader real estate industry.
26 The Estate Agent
AUGUST 2026 EVENTS
Alex Gale and Akec Makur Chuot shared powerful insights, stories and perspectives on leadership, resilience, relationships and breaking barriers, giving attendees plenty to take away from the morning.
The Estate Agent 27
179 We welcomed
new members
to the REIV community From 11 March to July, 2026
JOIN US TODAY
28 The Estate Agent
Not an REIV member yet?
Yassin Abdalla McGrath Estate Agents Werribee Nicholas Adams Bill Wyndham & Co Real Estate Niyi Adedoja Adedoja Buyers Advocates Muhammad Ahmad Oz Land Real Estate Adam Alexander Hugh Amery Nutrien Harcourts Wangaratta Lehna Angelino Ascension Real Estate Gagandeep Bajwa MCG Real Estate Philip Baker Lenny Barcham Max Price Real Estate Brad Best McGrath Macedon Ranges Harjot Bhullar Skyhigh Properties Yu Blake Jellis Craig Glen Waverley Veronica Booysen Metropole Properties Melbourne Lee Bouy Melbourne Real Estate Suzanna Boyes Wise Property Management Group Kalem Bradborn Jellis Craig Kingston Eric Brown One Agency Eric Brown Matthew Brown Tsimos Commercial Real Estate Luke Busuttil Pitch Real Estate Christopher Byrne Jens Veal Byrne Drew Cameron 2319 Property Liam Carrington VICPROP Brunswick Ching Chan Keyside Real Estate Eamonson Chau Touchwood Asset Management Girish Chekuri My Property Real Estate Wai Chong Aaron Chuah Stockdale & Leggo Pakenham Matthew Clark First National Real Estate Neilson Partners Luke Conquest Conquest Property Partners
Pablo Constanza Century 21 Wilson Pride (Noble Park) Jack Cooper Cushman & Wakefield Craig Corby CC Property Partners Benjamin Dax Dax Roberts Real Estate Brent Day Day & Associates Estate Group Raffael De Luise DM Commercial Real Estate Alexander Dimitriou COLLINGS REAL ESTATE (BANYULE) Katie Dorsett Soar Property Brett Driscoll Ray White Mildura Danielle Durkovic Ray White Sunbury Pty. Ltd. Leah Eaton Homes Victoria Fatma Elsiz Binatli Mark Evans Found Property Advisory Ivan Fantela 321Five Andrew Ferraro Barry Plant RowvilleLysterfield Shona Flarherty Chisholm & Gamon Property Joshua Francavilla Trade View Property Peter Funcke Peter Funcke Real Estate Flynn Grace Melbourne Real Estate Ryan Greig Nelson Alexander Violleta Groszdinn Metropole Properties Melbourne Anshul Gupta GHB Real Estate Benjamin Hamblett EquitiProjects Ciaran Handy Golam Zahur Haque Kieler Brown Realty Ella Harris Domain & Co Richard Harvie PPHS Qianying He DPG Property Group Kylie Helbig Elite Property Management Group James Herbert Field Agent
AUGUST 2026 MEMBERSHIP Chad Hermsen Retail Property Results Barbara Heywood Justin Hilford OwnShare Tom Hirini Next Chapter Property Matthew Holdsworth Park Valley Real Estate Jake Hu Melbourne Real Estate He Huang A Dot Realty VIC Marcus Illingworth Abode Buyer’s Advocates Nicole Jacks Setup Inside Out Tanya Jarrel Jarrel Estate Agents Matt Johnson McGrath Traralgon Alex Jokovich Investment Property Management Manpreet Jolly Jolly & Co Realty Akshay Kapoor Manifest Real Estate Ravinder Kapoor Bombay Real Estate Loukas Karas The Move Projects Kellie Keighran Ray White (Swan Hill) Rudolph Kelemen Kelemen Commercial Sean Keogh Keogh Property Agent Anthony Kirwan Maker Property Fiona Knight Isabella Kou Bella Real Estate Evangelos Koupanis ASP Real Estate Pardeep Kumar Pkush Darren Lambert Ray White West Realty Yu-Ju Liu Property With Me Alexia Lo Piccolo Besser And Co Estate Agents Zongchuan Lu Maycorp Property Jae Lukey O’Brien Real Estate Carrum Downs Andreas Lunn The Lunn Group Property Ning Ma Coco Ma Real Estate Sagar Malik Sara Assets
Joshi Manmohan Reventon Residential Aashish Mann VASS Reality James Markovic R T Edgar Stonnington Dion Marsden Matthew Mason Barry Plant (Mildura) Mathew McDonald AWN Livestock and Property Dominic McGrath Jones Lang Lasalle Charlotte McKendrick Ray White Mildura Abigail McNair Ray White Mildura Dan McQuinn Core Projects (Vic) Chantelle Meggs Arton Meka Marc Mengoni Cushman & Wakefield Rodney Morahan Lancaster Advisory Francis Morello Professionals Mildura Sarah Mulgrew McFall Real Estate Emma Nelson Colac To Coast Real Estate Tiago Neves OBrien Real Estate Meehan Sanderson Rachael Newman Shoreside Real Estate Thao Nguyen Leyton Real Estate Michael Nielsen Hauska Property Advocates Thomas Noonan Jones Lang Lasalle Olugbenga Oladejo Buyers Avenue Advocacy Jamie Ong Melbourne Real Estate Hamish Opray Melbourne Sotheby’s International Realty Denis Pagan Pagan Real Estate Calvin Pais Area Specialist Keysborough Santosh Pandey Beverley Park Bev Park Property Management Russell Parker YSPMVIC Fabien Pataud McGrath Keysborough William Pendlebury Known Real Estate
David Peterson RWC Asset Management (QLD) Brian Phegan Brian Phegan Real Estate Neil Pinney Co-Living Nextgen Property Management Andrew Plousi Hodges Mentone Chelsea Jacqueline Prentice Susan Quihampton Project Delivery.Co Hendri Rachman Ace Property Team Mark Ribarsky Wise Real Estate Advice Sharon Richter Hudson Property Agents Ben Ridley Ridley Real Estate Mildura Steven Rio Melbourne Real Estate Rachel Robertson Charlie Ross Blue Gold Real Estate Raymond Roumanous Everywhere Real Estate Thomas Ryan Knight Frank Jacqueline Ryder Barry Plant Emerald Sales Ahab Saada OC One Sean Santoro Wintersun Real Estate Zahoor Sarwari Sarwari Estate Agents Prince Sethi The Lancore West & North Abbey Sewell AS Property Co Shreyansh Shah Xcllusive Business Sales Melbourne Courtney Shaw Ancora Property Group Jessica Shearn Tsimos Commercial Real Estate Yuvraj Singh Estal Real Estate Satinder Singh Aussie Land Property Group Manohar Singh Tru Haven Properties Spiro Skiadopoulos Third Garden Katie Smith Williams Real Estate Ziyi Song Buxton (Ashburton) Udsani Songsuk Christie & Co Serafina Spiteri RS Real Estate & Co
William Squires SDG Real Estate Mia Stanley Nelson Alexander Harry Stogdale G A Thomson & Co (Malvern) Philip Stone L. Cooper Real Estate Somerville Brad Straughair PMC Property Buyers Joseph Sulfaro JP Sul Real Estate Waree Thamsongsaeng Christie & Co David Thiessen Belle Property Edward Thomas Edward Thomas Estate Agents Joshua Tiernan Tiernan Property Group Joseph Tilley Barry Plant Manningham Vi Tram Barry Plant Waverley Ben Tremellen BCT Advisory Johanna Troeller Ross-Hunt Real Estate James Vine RT Edgar Richmond Chang Wang Barry Plant (Keysborough) Courtney Wilken CPW Realty Daniel Wolman Cushman & Wakefield Michael Wood The Agency Sales VIC Carolyn Wright MTA Property Brokers Steven Yang Ray White Forest Hill Yanqin Zhu WealBest Property Xuenan Zhuang JE Commercial
The Estate Agent 29
MEMBERSHIP AUGUST 2026
Milestones 60 YEARS
30 YEARS
Bruce Bell
Robert Anderson
Vince Giarracca
Gregory Meadows
Tom Riddell
Dale Carroll
Michael Gross
Darren Pearce
Nick Cartledge
Peter Inge
Douglas Willox
50 YEARS
20 YEARS
David Cooper Robert Dawson
Dora Bergman
Tim Heavyside
Lip Phua
Malcolm Dingle
Justin Booth
Danelle Hunter
Kevin Stapleton
Kevin Sheehan
Carmelo Caputa
Jim Kalakias
Sam Tarascio
Philip Webb
Damien Carter
James Keenan
Liz Walker
Justin Clinch
George Keith
Nicholas West
Gregory Cusack
Tony Kwan
Richard Wraith
Kathy Dangov
Christian Lonzi
Kevin Wright
Marty Deacon
Anna Mallia
David Wright
Vincent Djuang
Cynthia Peretz
Kim Yasin
40 YEARS Tony Carty James Crowder Les Donaldson Tom Gibson
10 YEARS
Neil Kerr Richard Kerr
Andrea Adams
Rebecca Doolan
Peter Robertson
John Marasco
Samantha Airey
Justin Dowers
Maurice Romano
Grant Stinear
Gabriela Ammendola
Michael Enever
Stephen Rothel
Helen Fotiadis
Nicole Scrofani
Ryan Bell
Suzanne Herbert
Stan Sidiropoulos
Henry Birner
Matt Kenny
Peter Sinclair
Sue Brock
Brett Lanigan
Travis Smith
Greg Brydon
Sophy Lin
Andrew Sutherland
Joe Cascianelli
Stephen Maitland
Raphael Tang
Christine Yee Man Cheung
David Medlin
Lockie Waddell
Kirby Cuomo
Raghad Misho
Jingwu Wei
Nicholas Morrison
Elise Williams
Sam Rigopoulos
Andrew Wu
Lisa Roberts
Jason Zou
Abe Wiser
Yasantha De Silva Robyn Dodd Tom Dong
30 The Estate Agent
AUGUST 2026 MEMBERSHIP
BRUCE BELL MILESTONE SPOTLIGHT
60 Member for
years
1966 Joined in
Commencing his real estate career and membership in 1966 at the age of 18, Bruce was an active member of the inner Eastern Branch, delegate to the REIV Board for approximately seven years, President of the Carlton branch, Chair of realestateview.com.au, among other roles and contributions to the Institute and sector overall. Bruce was awarded Fellow of the REIA in 1980 and continues to actively work as a buyer and vendor advocate.
Bruce won the
Novice Auction Competition in 1979 The Estate Agent 31
MEMBERSHIP AUGUST 2026
KEVIN SHEEHAN PAST PRESIDENT 1994-95 “The REIV and to a lesser extent, the REIA have been a big part of my professional and family life to which I have derived great benefit and satisfaction. I am proud to have followed my father in the presidency of both.”
50 Member for
years
PHILIP WEBB OAM PAST PRESIDENT 1995-96, OAM 2026 A member of the REIV since 1976 and President in 1995–1996, Philip’s contribution to Victoria’s real estate industry spans more than five decades.
50 Member for
years
Beyond the profession, his impact on the community has been extraordinary, particularly through Philip Webb’s Annual Christmas Hamper Appeal, which has supported families across Melbourne’s eastern suburbs for more than 25 years.
ROBERT DAWSON
50 Member for
years
32 The Estate Agent
MALCOLM DINGLE
50 Member for
years
AUGUST 2026 MEMBERSHIP
VALE JOHN ROSS 1935-2026 A member for more than 64 years, John was President of the Real Estate Agents’ Association (REAA) in 1981-82 and a founding member of the Business Brokers Chapter and the Owners Corporation Chapter of the REIV. John was a key figure in the merger of the REAA and the Real Estate and Stock Institute to become the REIV in 1985.
In 1973, John co-founded RossHunt Real Estate in Mont Albert with business partner Alan Hunt, growing the business to where it stands today, employing more than 50 staff and working alongside his daughter Alex, niece Chris, and two grandchildren Rosie and Arran.
Conflict is inevitable Combat is optional
Don’t let leasing disputes get out of hand. Early support to deal with difficult situations can avoid costly legal proceedings. Services: Negotiation and conflict advice Mediation Mediation support
www.nicoledavidsonnegotiation.com.au + 61 403 523 700
The Estate Agent 33
34 The Estate Agent