By Trent Mullen, Gittoes Real Estate
Director | Licensee in Charge
Information checked: 4 November 2026.
New NSW property pricing rules begin on 17 November 2026, changing how residential properties are advertised and how agents support their price estimates. For Central Coast buyers and sellers, understanding the difference between an agent’s estimate, an asking price and an acceptable offer will help make the changes clearer.
Quick answer: The reforms introduce price disclosure in advertising for new agency agreements, more detailed comparable-sales requirements and stronger rules around rejected offers. Sellers can still ask more than an agent’s estimate, and an offer within a guide does not guarantee acceptance. However, advertised prices must comply with the new limits and must not mislead buyers. A separate Statement of Information stage starts on 8 February 2027.
What changes from 17 November 2026?
For residential sales under agency agreements entered into on or after 17 November, advertisements must include a price or price range. “Contact agent” alone will no longer satisfy that requirement. It covers online listings, social media and other advertising arranged by agents.
On-site or adjacent “for sale” signs are exempt from having to display a price. If they include one, it must comply with the pricing rules.
Agents must take reasonable steps to update or remove non-compliant online advertisements within one business day. Other advertising must be addressed as soon as practicable.
Can the asking price be higher than the agent’s estimate?
Yes. The estimated selling price in the agency agreement is the agent’s evidence-based assessment of the likely selling price. It does not automatically become the advertised asking price.
For example, an agent may reasonably estimate a home at $1 million to $1.1 million, while the seller chooses to advertise at $1.15 million. Advertising above the estimate is permitted, provided the marketing is not misleading.
However, while that estimate remains current, the agent cannot advertise the property at $950,000. The prohibition on quoting below the agent’s reasonable estimate already exists.
A seller’s preferred asking price also does not, by itself, justify increasing the agent’s estimate. That estimate must remain supported by evidence.
Does a seller have to accept the bottom of the price guide?
No. A price guide is not a binding promise to accept an offer. For a private treaty sale, the parties generally become legally bound when contracts are exchanged.
The seller considers the whole proposal, including:
- The settlement period, such as a buyer requesting 90 days when the seller needs an earlier settlement.
- Conditions requiring finance approval or the sale of the buyer’s existing property.
- The proposed deposit and requested contract changes.
- Competing offers with different prices or terms.
Buyers should put both their price and proposed conditions in writing so the seller can assess the complete offer.
What happens when an offer is rejected because the price is too low?
Under the new rules, agents must not advertise or quote below a written offer rejected solely because the amount offered was too low.
For example, a home is advertised at $1 million to $1.1 million. A buyer makes a written offer of $1.05 million, which the seller rejects only because they want more money. Continuing to advertise from $1 million would breach that new pricing limit.
If the seller instead rejects the offer because its 90-day settlement is unsuitable, that rejection does not, by itself, trigger the same rejected-price restriction. The actual reason matters and must be recorded.
What if the rejected offer equals the bottom of the guide?
The specific rule prohibits quoting below the rejected amount. It does not prescribe an automatic increase above every rejected offer.
However, if the seller makes clear they will not accept the advertised minimum, keeping that price may mislead buyers. The agent must review the advertising against the seller’s instructions and separately review whether the estimated selling price remains reasonable.
Another new pricing limit applies after an auction passes in: agents must not quote below the highest bid made by a registered bidder that they know, or ought reasonably to know, about.
How will comparable sales be assessed on the Central Coast?
The new process requires agents to consider the three most comparable sales, where available. The Central Coast is classified as a metropolitan area for these rules.
Agents must initially identify sales within a 2km radius during the previous six months, then assess which properties are genuinely comparable. If fewer than three qualify, the search extends to the previous 12 months within the same radius, with priority given to qualifying sales from the more recent six-month period.
If fewer than three comparable properties remain after that process, the agent must use those available and record why there are fewer.
Comparisons must consider more than bedroom numbers. Relevant factors include condition, layout, floor area, land size, parking, location, zoning and special features.
For an owner in East Gosford, Springfield or Point Frederick, a useful appraisal discussion should explain both the selected sales and the differences between those homes and their own. A nearby sale is a starting point, rather than a complete explanation of value.
What about properties already on the market?
The requirement to include a price in advertising applies to agency agreements entered into on or after 17 November 2026. Existing priced campaigns are still subject to the new pricing limits and update requirements.
The new estimated-price requirements also apply to older agency agreements when their estimated selling price is revised on or after that date.
What starts in February 2027?
The Statement of Information stage begins on 8 February 2027, with its own transitional arrangements. For covered sales, it will give buyers information about the comparable properties supporting the estimate and must be available through online advertising and at inspections.
What this means for your next move
For sellers, the practical starting point is a clear discussion about the evidence supporting the appraisal, the proposed asking price and how offers will be assessed. For buyers, understanding the price guide and presenting clear terms makes those conversations more useful.
If you are considering selling on the Central Coast, request a market appraisal from Gittoes. Our team can discuss relevant local sales and a pricing approach suited to your property and plans.
This article provides general information, rather than legal advice. Further details are available in NSW Fair Trading’s guide to the reforms.