Real estate agents must record an estimated selling price (ESP) for any residential property in their agency agreement. This is the minimum price they can advertise.

Agents must include a price or price range in online and other advertisements for residential property (except for signs placed on the property itself).

It is an offence to advertise a residential property at less than the ESP, less than the highest bid at a passed-in auction, or less than a written offer rejected only because it was too low.

Agents must revise the advertised price upward after the property is passed in at auction, after a written offer is rejected for being too low, or after the ESP is revised.

Penalties for underquoting offences are increased.

New disciplinary actions are available against agents who break the rules: monetary penalties payable to the compensation fund, mandatory public breach notices, suspension from certain licensed functions, and requirements to use an independent valuer to verify prices at the agent's own cost.

The Secretary can issue education notices to agents for contraventions, as an alternative to formal disciplinary proceedings.

It becomes an offence to impersonate an authorised officer under the Fair Trading Act, Property and Stock Agents Act, or related strata legislation.