From 1 July 2026, new Australian laws will change how property transactions are handled.
If you’re thinking about buying or selling a property, you may start to notice something different, you’ll likely be asked to provide identification and some additional information earlier in the process.
For many people, this will be new.
This guide explains what’s changing, why it matters, and what it means for you.
What’s Changing
From 1 July 2026, real estate agents, along with other professionals such as lawyers and conveyancers, will be required to follow anti‑money laundering laws when working with clients.
In practical terms, this means:
- Agents must verify who they are working with
- Some transactions will involve additional checks
- More information may be required before proceeding
This brings real estate into line with industries like banking, where identity checks are already standard practice.
Why These Changes Are Being Introduced
Property transactions are high-value and can involve complex ownership structures. Because of this, they can sometimes be used to move or hide illegal funds.
The new laws are designed to:
- Protect buyers, sellers, and the broader market
- Reduce fraud and financial crime
- Improve transparency in property transactions
The goal isn’t to make property transactions harder, it’s to make them safer and more secure for everyone.
What This Means For You
Whether you’re buying or selling, you may notice a few changes.
If you’re buying a property
You may be asked to:
- Provide identification earlier in the process
- Answer a few questions about the transaction
- Confirm where funds are coming from (e.g. savings, loan)
If you’re selling a property
You may be asked to:
- Verify your identity before listing
- Confirm ownership details (especially for companies or trusts)
- Provide information about where sale proceeds will be directed
These checks are a legal requirement from 1st July 2026 and apply to all buyers and sellers, not just some.
When This Will Happen
One key change is the timing for this check.
You may be asked to provide information earlier than you’re used to, sometimes at the start of the process rather than at settlement.
This is designed to:
- Prevent delays later
- Ensure everything is in place before contracts progress
What You May Need to Provide
In most cases, the process is straightforward.
You may be asked for:
- Photo ID (e.g. driver’s licence or passport)
- Basic personal details
- Proof of address (in some situations)
If you’re using a company or trust you will need to provide additional details about ownership and control.
In some cases you may be asked questions about the source of funds for the transaction.
Will this slow down your transaction?
For most people, no. These checks are generally quick once documents are provided.
Delays are most likely to happen when:
- Information is incomplete
- Documents aren’t provided within a reasonable timeframe
- The transaction structure is more complex
The best way to keep things moving is to provide information as soon as it’s requested.
Why you might be asked similar questions more than once
You may also be asked for similar information by:
- Your lender
- Your conveyancer
- Your real estate agent
This can feel repetitive, but each party has separate legal AML/CTF obligations.
Over time, this will become a normal part of the property process across the entire industry.
Your Privacy and Security
We take privacy and data security seriously. We will only collect what is required by law or you have authorised us to collect. Your data is stored securely and handled in accordance with Australian privacy laws and strict AML/CTF regulatory requirements. It is used only for identity verification and compliance checks.
What happens if information isn’t provided
Under the new laws, real estate agencies must complete certain checks before they can proceed.
If the required information cannot be obtained, the transaction may not be able to move forward.
This requirement applies across the whole real estate industry.
What this means in the long term
While this is a new step today, it won’t feel new forever. Just like ID checks in banking, these requirements will quickly become a normal part of buying and selling property.
Over time, the benefits will become clearer:
- Greater transparency
- Reduced risk of fraud
- More confidence in property transactions.
We’re Here to Help
We know this is a change for many clients.
Our role is to:
- Explain what’s required
- Guide you through the process
- Keep things as simple and straightforward as possible.
If you have any questions, your Elders agent will be able to help.
source: https://amlaustralia.com/ , https://www.austrac.gov.au/