Key Insights
- New Anti-Money Laundering (AML/CTF) laws apply to property sales from 1 July 2026.
- Buyers and sellers will need to provide identification as part of the transaction process.
- Residential rentals and commercial leasing are not affected by the new requirements.
- Transactions involving companies, trusts and SMSFs may require additional documentation.
- Realmark Commercial Pilbara is AML-ready and will guide clients through every step of the process.
From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to real estate transactions across Australia.
While this introduces some additional checks for buyers and sellers, the purpose is straightforward: to make it harder for criminals to use property transactions to hide or move illegally obtained money. Australia is bringing the real estate industry into line with international standards already adopted by many other countries.
At Realmark Commercial Pilbara, we've been preparing for these changes well ahead of their commencement, so we can make the process as simple and stress-free as possible for our clients.
What does this mean for you?
If you're buying or selling property, you'll be asked to provide identification and some additional information as part of a process called Customer Due Diligence (CDD), sometimes referred to as Know Your Customer (KYC).
Depending on your circumstances, this may include:
- Verifying your identity.
- Confirming the purpose of the transaction.
- Checking whether you are a politically exposed person or subject to sanctions.
- In some cases, providing information about your source of funds or wealth.
While it may feel like an extra step, these checks will become a standard part of buying and selling property across Australia, much like the identity checks already required when opening a bank account or applying for finance.
What does this mean for sellers?
If you're selling a property, we'll complete the required customer due diligence when you engage us. Under the legislation, we cannot advertise your property for sale until these checks have been completed.
What does this mean for buyers?
When you buy a property, the selling agent must complete a CDD on you once your offer to purchase the property is accepted. If your offer was accepted before 1 July 2026, your real estate agent will not need to do CDD. However, if the property settles after 1 July, your real estate agent, and settlement agent, will be required to conduct CDD.
What about landlords and tenants?
For most landlords and tenants, it's business as usual.
The new AML/CTF laws apply to the buying and selling of property, not residential rentals or commercial leasing. If you're entering into a lease or renewing an existing one, these reforms generally won't affect your leasing process.
Companies, trusts and SMSFs
Many commercial property transactions involve companies, trusts or self-managed super funds (SMSFs).
If you're buying or selling through one of these structures, we may need to request additional documentation to verify ownership and control, as required under the legislation. We'll explain exactly what's needed and help guide you through the process.
Your privacy matters
We understand that providing personal information can feel sensitive.
Any information collected as part of the AML/CTF process is handled in accordance with privacy obligations and is used only to meet our legal requirements.
How to prepare
If you're planning to buy or sell property, you can help keep your transaction moving by:
- Having your identification documents ready.
- Letting us know early if you're buying or selling through a company, trust or SMSF.
- Responding promptly if we request additional information.
We'll explain what's required at every stage, so there are no surprises.
We're here to help
Property transactions already involve enough moving parts without having to navigate new legislation on your own.
Whether you're buying, selling or investing, our team has the systems and processes in place to manage these new requirements. We'll guide you through every step, answer your questions and help ensure your transaction progresses as smoothly as possible.
The legislation has changed, but our commitment to making property transactions straightforward and stress-free hasn't.
Disclaimer
This article is general information only and does not constitute legal, financial or taxation advice. AML/CTF obligations may vary depending on the circumstances of your transaction. Additional information or documentation may be required to satisfy legislative requirements. Please seek independent professional advice where appropriate.