Fixing Price Guides and Rebuilding Trust with Jacob Caine (REIV) - The Property Playbook

Why do property price guides keep failing buyers — and what can be done to fix them? In this episode, Tim Graham sits down with Jacob Caine, Interim CEO of the Real Estate Institute of Victoria (REIV), to unpack one of the most controversial topics in Australian real estate: underquoting.

Despite reforms in 2017, public frustration and media scrutiny remain.

Jacob explains why, what’s really driving consumer distrust, and how the REIV’s new Strategic Working Group is developing a Blueprint for Price Guides to improve transparency, protect vendors’ rights, and restore confidence in the market.

Together, Tim and Jacob explore:

• Why underquoting persists — and how widespread it really is
• What the 2017 legislation got right … and where it falls short
• How data transparency can reduce confusion for buyers and agents alike
• The role of the REIV’s Working Group and its proposed reforms
• The case for mandatory disclosure of sales results and stronger comparables
• How Victoria’s model compares with other states like Queensland
• Jacob shares practical insights from the frontline — including why only a fraction of a percent of auctions end in underquoting fines, and how new data requirements and clearer rules could reshape the way Australians buy and sell property.

📌 Topics: Underquoting Legislation · Price Guide Reform · Consumer Transparency · Real Estate Industry Trust · REIV Advocacy