From 1 July 2026, new identity verification requirements came into effect for all real estate agencies across Australia under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.
If you’re buying or selling property, you’ll notice an extra step in the process. Before we can provide certain real estate services, we’re now legally required to verify your identity using a secure online link, and carry out a number of compliance checks. This includes completing an on-boarding form, which asks buyers to confirm the source of their funds.
While this is new to the property industry, it’s something you’ve probably already experienced with banks, accountants and solicitors.
We know it’s more forms to complete, but unfortunately, it’s now a legal requirement for every real estate agency in Australia. We’ll do everything we can to make the process as simple, secure and straightforward as possible.
The Australian Government has expanded the AML/CTF framework to help protect Australia’s financial system and property market by reducing the risk of:
Bringing real estate into the framework forms part of a broader national effort to strengthen transparency and integrity across a number of regulated industries.
If you’re buying or selling property through us, we’ll need to verify your identity before we can provide certain real estate services.
We’ll ask you to provide:
If a property is owned or purchased through a company, trust or similar entity, we will need to identify the people who ultimately own or control that entity.
To make the process as easy and secure as possible, we’ll send you a secure digital identity verification request through Verify, a compliance platform designed specifically for the Australian real estate industry.
Once you’ve completed the verification, we’ll review the information to meet our legal obligations before proceeding with your transaction.
There is a fee for these searches, payable by both buyers and sellers. In most cases, the total cost involved for a property sale is around $300, although this depends on the ownership structure. Verification for individuals or couples is generally straightforward, while companies, trusts and self-managed superannuation funds require more detailed checks and may attract a higher fee.
Absolutely.
Protecting your personal information is extremely important to us. Your information is securely managed through Verify, a certified platform that meets strict Australian privacy and information security standards.
Your information will only be collected and used to meet our AML/CTF obligations and will be handled in accordance with Australian privacy legislation.
Yes.
Even if you’re an existing client, the legislation requires online identity verification to be completed for relevant transactions from 1 July 2026 onwards.
In many cases, we may simply need to confirm or update the information we already have on file, making the process quicker and easier.
These new requirements add an extra step to the buying and selling process, but they don’t change the way we work with our clients. Our commitment to providing honest advice, personal service and clear communication remain exactly the same.
If you have any questions about the new identity verification requirements or the new process, please don’t hesitate to contact our office or your solicitor. We’ll be happy to help and make the process as straightforward as possible.
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