Victorians can now see a home’s reserve price before auction. What does this mean for buyers and sellers?

Auction volumes in Melbourne fell sharply on the 17-18 October weekend, which represented the first auctions with published reserves. Photograph: Mick Tsikas/AAP

Within days of Victoria requiring sellers to reveal their reserve prices before an auction, property agents started testing workarounds.

Market participants say there is already a pivot toward open-ended expressions of interest campaigns that allow sellers to keep their reserve price hidden. There is also a noticeable shift away from auctions to private sales.