If you're buying or selling property, you may notice your real estate agent asks for a little more information than they have in the past.
Don't be alarmed, this isn't because you've done anything wrong.
From 1st July 2026, Australia's real estate industry is required to comply with new Anti Money Laundering and Counter Terrorism Financing (AML/CTF) obligations under expanded legislation. These changes are designed to help protect Australia's property market from financial crime and bring real estate into line with industries such as banking, where identity verification has long been a standard part of the process.
While these new requirements introduce a few extra steps, they're designed to create a safer, more transparent property market for everyone.
Property transactions involve significant sums of money and unfortunately, can sometimes be targeted by criminals attempting to hide or move illegally obtained funds.
To help prevent this, the Australian Government has expanded AML/CTF legislation to include real estate professionals. This means agencies like Thorp Realty now have legal obligations to verify the identity of clients, understand who they are acting for and carry out certain checks before providing designated services.
These requirements are now a normal part of the property transaction process and help strengthen the integrity of Australia's real estate industry.
For most buyers and sellers, the process is straightforward.
Depending on your circumstances, we may ask you to provide:
In many cases, these checks only take a few minutes to complete and can often be finalised before your transaction progresses.
In most cases, no.
Providing the requested information early in the process helps us complete the necessary verification requirements without delaying your sale or purchase.
Like signing contracts or arranging finance, identity verification is simply another step in the property journey. Completing it promptly helps ensure everything continues to move forward smoothly.
Absolutely.
Protecting your privacy is extremely important to us.
Any personal information we collect is handled securely, stored in accordance with Australian privacy legislation and used only for the purpose of meeting our legal compliance obligations.
We understand that providing personal identification can feel sensitive and we're committed to treating your information with the highest level of care and confidentiality.
For most people, the only noticeable difference is that you'll be asked to verify your identity a little earlier than you may have in previous property transactions.
Although it may feel like an extra step, these changes are designed to help protect buyers, sellers, businesses and the wider Australian community by making it harder for criminal activity to occur within the property market.
Our team will guide you through any identification or verification requirements that apply to your transaction, making the process as straightforward as possible.
At Thorp Realty, we understand that buying or selling property can already feel overwhelming. That's why we're committed to making these new requirements as simple and stress free as possible.
If we ask you for identification or additional information, it's simply because we're required to do so under Australian law and we'll always explain why.
Our goal is to keep your property journey moving smoothly while meeting our legal obligations and protecting everyone involved in the transaction.
If you have any questions about the new AML/CTF legislation or what it means for your property journey, please don't hesitate to contact the team at Thorp Realty.
We're here to help every step of the way.
This article is intended to provide general information only and should not be relied upon as legal, financial or professional advice. While every effort has been made to ensure the information is accurate at the time of publication, legislation and regulatory requirements may change. If you require advice specific to your circumstances, we recommend seeking independent legal or professional advice. Thorp Realty complies with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and related legislation.
