Since 1 July 2026, real estate agencies in Australia have been covered by the anti-money laundering and counter-terrorism financing laws, known as AML/CTF. The changes can sound complicated, but the purpose is simple: to make it harder to use property to hide the proceeds of crime, and to make property transactions more transparent.
What it means in practice
Banks and other financial businesses have checked who their customers are for years. Agencies now have to do much the same when they act on a sale or purchase. That can include:
- checking your identity, usually from a passport or driver's licence
- confirming who owns the property, and who is behind a company or trust if one is involved
- in some cases, asking where the money for the transaction is coming from.
If you're selling
Expect us to check your identity and confirm that you own the property, or have the authority to sell it, at the start. If the property is held by a company or a trust, we'll also need to know the people behind it.
If you're buying
Buyers may also be asked for identification and, in some cases, for information about where the funds for the purchase are coming from.
Why it's worth the extra steps
The checks add a few steps, but they aren't meant to make buying or selling harder. They protect everyone involved, and they bring real estate into line with banks and other financial services that have worked under these laws for years. The regulator is AUSTRAC, the federal government's financial intelligence agency.
We'll always tell you what we need, and why, before we ask for it.
