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Real Estate Exposed: Melbourne’s real estate reset puts agents to the test


By Robyn Tongol

24 September 2026 • 2 minute read


emilie lauer and lisa pennell reb kktqug

Melbourne agents are facing weaker conditions and tighter scrutiny, putting selling skills, transparency, and trust under the microscope.

On Real Estate Exposed, REB deputy editor Emilie Lauer is joined by Lisa Pennell, CEO of Barry Plant, to discuss the challenges facing Victoria’s property market and the industry’s response.

Pennell explains why Melbourne’s market is becoming increasingly segmented, with higher-priced properties facing tougher conditions while more affordable homes continue to attract buyers.

The pair then turns to Victoria’s underquoting crackdown and what increased scrutiny means for industry trust, with Pennell arguing that agency culture, leadership, and consistent enforcement all have a role to play.

Pennell also discusses the impact of tax changes and new auction rules, while sharing why she remains optimistic about Melbourne and believes agencies that keep building market share through the downturn will be best placed for the recovery.

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