What to Expect When Buying or Selling.
From 1 July 2026, new laws require real estate agents to collect and verify information from buyers and sellers. Here’s what that means for you.
Why is my agent asking for more information?
The Australian Government has introduced new laws to help prevent criminals from using property transactions to launder money or fund terrorism.
As a result, real estate agents across Australia are now required to collect and verify certain information from their clients. These requirements apply to all real estate agencies and are set out in Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.
What will I be asked to provide?
Your agent may ask for information and documents to:
- Confirm your identity
- Understand where the funds for the transaction are coming from
- Determine whether you hold, or are closely related to someone who holds, a prominent public position (known as a Politically Exposed Person or PEP)
A PEP may include senior government officials, judges, military leaders, or other people in significant public positions.
If you are buying or selling through a company, trust, partnership, or another entity, your agent may also need information about the people who own or control that entity.
What if I don’t provide the information?
If you choose not to provide the required information, or if your identity cannot be verified, your agent may be unable to act for you or continue with the transaction. These requirements apply to all real estate agencies in Australia.
Will my information be reported to the government?
In some circumstances, the law requires agencies to report certain transactions or activities to the Australian Transaction Reports and Analysis Centre (AUSTRAC). The law may also prevent your agency from telling you if a report has been made.
Are there any costs?
There may be costs associated with identity verification, company searches, or other checks required under AML/CTF laws. Your agent will advise you if any costs are payable by you.
Your agent is here to help.
These checks are straightforward for most buyers and sellers. If you have any questions about what’s needed for your situation, speak with your Professionals agent directly.