Meet the Melbourne home sellers who are already publishing their reserves

Key points

• From October 16, Victorian sellers must advertise the reserve price at least seven days before an auction or fixed-date sale. The new rule aims to curb property underquoting.
• Several sellers have already published their reserves early. In Gladstone Park, a house with a $700,000 reserve sold for $801,000 after four bidders competed.
• In Watsonia, a home with a $1 million reserve sold for $1,090,000. The Real Estate Institute of Victoria backed the transparency aims but opposed the seven-day requirement.