From 1 July 2026, Australians buying, selling and leasing property may notice a change in the information their real estate agent requests.
Under Australia’s expanded Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws, real estate agencies will join banks, financial institutions and other professional service providers in helping prevent criminals from using Australia’s financial system to conceal the proceeds of crime.
While most property transactions are entirely legitimate, Australia’s property market has long been recognised as a potential target for money laundering because of the large sums of money involved. The reforms are designed to make it harder for organised crime groups and other bad actors to move illicit funds through property transactions.
What does this mean for buyers and sellers?
In many cases, your real estate agent may ask you to provide information that was not previously required.
This could include:
- Proof of identity, such as a driver’s licence or passport
- Proof of address
- Documentation relating to companies, trusts or self-managed superannuation funds
- Information about the individuals who ultimately own or control a company or trust
- Information about the source of funds being used in a transaction
These requirements apply to all clients and are not an indication that there are concerns about a particular transaction.
Why is this information required?
The new laws require real estate businesses to verify the identity of their clients, understand who they are dealing with and assess whether a transaction presents any money laundering or terrorism financing risks.
Property transactions can involve complex ownership structures and significant financial transfers. By understanding who is involved and where funds originate, agencies can help protect the integrity of Australia’s property market.
I’ve already provided information to my bank or solicitor. Why do I need to provide it again?
This is one of the most common questions expected under the new regime.
Banks, lawyers, accountants and real estate agencies each have their own legal obligations. While some reliance arrangements may be available in certain circumstances, businesses cannot automatically assume another organisation has completed the checks required under the law.
As a result, you may be asked to provide similar information to multiple parties involved in the same transaction.
Will this delay my property transaction?
For most people, no.
Identity verification can often be completed quickly using secure digital systems. Delays are more likely to occur when information is incomplete, ownership structures are complex or requested documents are not provided promptly.
Providing information early in the transaction process will help minimise any potential delays.
How will my information be protected?
Real estate agencies are required to handle personal information in accordance with Australian privacy laws and will only collect information necessary to meet their legal obligations.
The information is used solely for compliance and regulatory purposes and must be stored and managed securely.
A safer property market for everyone
The vast majority of Australians will experience these new requirements as a straightforward administrative step.
While providing additional information may feel unfamiliar at first, the reforms are intended to strengthen trust in Australia’s property market and help ensure it cannot be exploited by criminals seeking to hide illicit wealth.
For consumers, it means greater transparency. For the industry, it represents an important step towards meeting international standards and protecting the integrity of one of Australia’s most important markets.