New Anti-Money Laundering Rules for Buyers and Sellers

From 1 July 2026, Australian real estate professionals will be required to comply with anti-money laundering and counter-terrorism financing laws.

For buyers and sellers, this means property transactions may include more formal checks before an agency can provide certain services or progress parts of a sale. These checks are not designed to make the process harder. They are intended to help protect the property market from being used to move or conceal money connected to criminal activity.

For sellers, the changes may be most noticeable at the start of the selling process. Before an agency can act, you may be asked to provide identity documents, confirm ownership details and provide information about the person or entity selling the property. If the property is held in a company, trust or other structure, further information may be required to confirm who ultimately controls or benefits from that entity.

For buyers, the changes may appear during the enquiry, offer or contract process. You may be asked to verify your identity, confirm who is purchasing the property and provide further information if the purchase involves a company, trust, overseas party or another structure. In some situations, questions may also be asked about the source of funds being used for the purchase.

These requests do not mean a buyer or seller has done anything wrong. They are part of a broader shift toward more consistent identity, risk and record keeping processes across real estate. Similar checks already exist in other parts of the financial system, including banking and lending.

The main practical change is that buyers and sellers should be prepared for documentation to be requested earlier and more formally. Having identification, ownership information, company or trust documents and finance details ready may help avoid delays once a campaign, offer or settlement process is underway.

For most straightforward transactions, the change will be a relatively small administrative step. For more complex transactions, including those involving companies, trusts, overseas buyers or multiple parties, the process may take longer if additional information is required.

Real estate agencies will also need to keep appropriate records, train staff, assess transaction risk and report suspicious matters to AUSTRAC where required. AUSTRAC is the Australian Transaction Reports and Analysis Centre. It is Australia’s financial intelligence agency and anti-money laundering and counter-terrorism financing regulator. This new reporting requirement means some questions may be asked even when they have not traditionally formed part of the sales process.

At Harrison Agents, we see these changes as part of a more transparent and accountable property market. A clearer process helps protect clients, supports trust between all parties and strengthens the integrity of real estate transactions.

This article provides general information only and should not be taken as legal or financial advice. Buyers and sellers should seek advice from their solicitor, conveyancer, accountant or finance professional based on their own circumstances.