For decades, exchanging a home in Australia has largely involved contracts, negotiations and settlement dates for compliance.
But if you’re buying or selling property from the 1st July 2026, there’s a new spoke in the wheel – your agent may ask for a little more information than previously.
Real estate agencies nation-wide are now required to meet new Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) obligations, bringing the property industry in line with finance and banking sectors.
Why the change?
With real estate being recognised globally as vulnerable to money laundering, or illicit funds concealed through property transactions, the new legislation seeks to make property transactions more transparent, accountable and secure.
Real estate professionals are now required to identify who they’re dealing with, the nature of the transaction, and suspicious activity if it arises.
What are agents responsible for?
Under the new changes, agents and agencies are expected to establish systems and procedures to verify the identity of clients, potential risks, and keep appropriate records when required.
Where there are reasonable grounds for concerns, agencies are also now obliged to report suspicious matters to relevant authorities.
What will buyers and sellers notice?
If you’re buying or selling anywhere in Australia, you may be asked to provide additional identification earlier in the process than previously. This may include proving your ID, confirming ownership, or providing information about other parties involved in the transaction.
As these changes become part of everyday real estate practice, buyers and sellers can expect reputable agencies to advise them on any new steps with clarity.
Prudential Real Estate is committed to ensuring expert guidance, full transparency and a seamless experience from beginning to end. If you have any questions about the new compliance or your next move, we’d love to hear from you.
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
