Australia’s property industry is preparing for one of its biggest regulatory shifts in years, with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms commencing from 1 July 2026.
The reforms will introduce additional compliance obligations across the real estate sector, bringing property transactions more closely in line with the standards already applied across banking and financial services.
For buyers, sellers, investors and landlords across Western Australia, the changes are expected to increase identity verification and due diligence requirements throughout the sales and leasing process.
The reforms mark an important evolution for the property industry, with transparency, professionalism and consumer protection expected to become an even greater focus moving forward.
What is AML or CTF?
From 1 July 2026, new Australian anti-money laundering and counter-terrorism financing (AML/CTF) laws will apply to certain real estate services and transactions. The reforms are part of a broader Federal Government initiative aimed at reducing financial crime risks and aligning Australia more closely with international AML/CTF standards already adopted in markets including the UK, Canada and New Zealand.
Under these laws, all regulated businesses must: verify the identity of their clients, understand the purpose of each matter or transaction, assess and document risks, along with keeping clear, accurate records of decisions.
As part of these laws, real estate agents may legally be required to undertake these checks before providing certain services in particular in relation to the sale or acquisition of property. The industry has been working towards understanding how these changes will impact process and practice, and ensuring that the burden on clients, stakeholders and importantly on real estate professionals is managed and supported.
How has Realmark prepared for the changes?
With over 36 years experience adopting to multiple changes in the industry the team at Realmark are proactive and ready for the change. According to Elizabeth Christou, Group Operations Manager at Realmark, the group has been proactively preparing its teams and systems ahead of the 1 July commencement date.
"These reforms represent a significant shift for the property industry, but also an important step forward in strengthening trust and accountability across transactions. Our focus is ensuring clients continue to experience a smooth and well-supported process, while also understanding why these additional compliance measures are becoming part of the industry standard."
While the additional checks may initially feel unfamiliar for some clients, the changes are expected to quickly become a standard part of property transactions across Australia.
We understand clients want confidence, clarity and efficiency when making property decisions, which is why preparation, communication and helping clients understand these new requirements early will be critical to keeping transactions seamless.”
Ms Christou said.
To suppport our team and clients we have prepared suite of tools and resources, as well as a shared environment to collate frequently asked questions so we can leverage our collective experience through the change.
You can also read our guide here Client Information: anti-money laundering and counter-terrorism financing (AML/CTF) compliance | Realmark Head Office
The privacy of our clients' information has also been an area of concern. Accordingly, we have selected a provider with ISO 27001 certification, which is the international standard for information security management. This certification demonstrates that the provider has implemented formal security controls and robust risk management processes to protect sensitive information.
How will the change impact our market?
As Western Australia continues to experience strong property activity across residential and commercial sectors, experienced guidance and clear communication will become increasingly important as compliance requirements continue to evolve. For the vast majority of ordinary residential buyers and sellers in Western Australia, the practical impact is likely to be limited to providing additional identification and source-of-funds information during the transaction process. However, AML reforms may have more impact for:
- High-value residential transactions;
- Commercial property acquisitions; and
- Transactions involving trusts, companies, and overseas entities.
For more information about the AML/CTF reforms and how they may impact property transactions from 1 July 2026, connect with a Realmark expert.
Resoures
REIWA's Guidance on Anti-Money Laundering
AUSTRAC AML/CTF laws