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I think theres less of that terminology already. Many of the changes agents have already embraced ahead of them coming in. Mr Valentic said changes aimed at making the industry more transparent were a good thing but the new laws could not provide ultimate certainty of the price range a property would sell in. Comparable sales were open to interpretation by an agent and the vendors reserve price did not have to be within the advertised range and only had to be disclosed on auction day, he said. I think the underquoting laws are great but theyre not going to solve the underlying problem at the moment which is not enough houses and much more demand for houses than supply, he said. Overall theres still going to be some challenges for buyers. This will hopefully make it transparent but the main challenge for buyers is the runaway market were seeing every weekend with properties selling $400,000, $500,000, $600,000 above reserve. Wakelin Property Advisory director Paul Nugent also welcomed the law changes but questioned how effective they would be at tackling the issue, citing the requirement for comparable sales. I think theres probably less underquoting around now than there was even a year ago. Having said that, I dont know the new laws will even make that much difference, he said. Mr Nugent said agents were likely to use comparative sales they were familiar with and might avoid those of their rivals.