Important Changes to Property Transactions: New AML/CTF Requirements for Australian Real Estate

If you're buying, selling or renting out a property, you may notice that real estate agencies are starting to ask for a little more information than they have in the past.

Don't worry - you're not alone in wondering why.

The reason is that Australian laws have recently changed, and from 1 July 2026 all real estate agencies are now required to carry out additional identity and verification checks as part of the buying, selling and property management process.

At Agile Realty Perth, we know that property transactions already involve plenty of paperwork. Our goal is to make these new requirements as simple and straightforward as possible while meeting our legal obligations.

So, What's Changed?

The Australian Government has expanded its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws to include real estate agencies.

In practical terms, this means agencies are now legally required to collect and verify certain information about the people they are acting for.

These requirements apply across the real estate industry. They aren't unique to Agile Realty Perth, and they aren't additional checks we've chosen to introduce ourselves.

What Does This Mean For Me?

For most people, not much will change.

In many cases, it will simply mean providing photo identification and answering a few basic questions at the start of the process.

However, because the law requires us to understand who we are dealing with and who is involved in a transaction, we may need to ask for some additional information from time to time.

What Sort Of Questions Might You Ask?

The exact questions will depend on the circumstances, and not every client will be asked every question.

Some examples include:

Confirming Your Identity

We may ask for:

• Your full name
• Date of birth
• Residential address
• Contact details
• A copy of your driver's licence or passport

This helps us confirm we are dealing with the correct person.

Understanding Who Owns The Property

If you're selling a property or appointing us to manage one, we may ask:

• Are you the owner of the property?
• Are you acting on behalf of someone else?
• Does anyone else have an ownership interest?
• Is the property owned by a company or trust?

If A Company Or Trust Is Involved

Where a property is owned or purchased through a company or trust, we may need to ask:

• Who are the directors or trustees?
• Who owns or controls the entity?
• Who are the beneficiaries?
• Who will ultimately benefit from the transaction?

This may sound detailed, but it's a requirement under the new laws.

Questions About Purchase Funds

If you're buying a property, we may ask general questions about where the funds are coming from, such as:

• Savings
• A home loan
• The sale of another property
• An inheritance
• Investments or business income

For most buyers, these are simple questions with straightforward answers.

Overseas Connections

In some situations, we may also ask whether:

• Any parties involved live overseas
• Funds are being transferred from overseas
• An overseas company or trust is involved

Again, this information is only requested where required under the legislation.

Why Are You Asking Questions I've Never Been Asked Before?

This is probably the question we'll hear most often.

The simple answer is that these requirements are new.

Many people have bought and sold property before without being asked these questions. That's because, until now, real estate agencies weren't required to collect the same level of information.

As the laws change, the way transactions are handled changes too.

What If I Don't Want To Provide The Information?

Because these checks are required by law, there may be situations where we're unable to proceed with a transaction or provide certain services if the required information isn't provided.

We know this can be frustrating, which is why we'll always explain what information is needed and why we're asking for it.

Is My Information Kept Secure?

Absolutely.

Any information collected for AML/CTF purposes is handled in accordance with privacy laws and used only for legitimate compliance purposes.

Protecting our clients' personal information is extremely important to us.

We're Here To Help

We understand that buying, selling or managing property can sometimes feel overwhelming, especially when new requirements are introduced.

If we ask you for identification or additional information, please know that we're doing so because Australian law now requires real estate agencies to carry out these checks.

For most clients, the process will be quick and straightforward.

And if you're ever unsure why we're asking a particular question, simply ask. Our team is always happy to explain the process and help make your property journey as smooth as possible.

‍