From 1 July 2026, significant changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws have come into effect, introducing new requirements across the legal and property industries.
While much of the discussion has focused on lawyers, conveyancers and real estate agencies, these changes will also affect the way buyers and sellers move through the property transaction process.
For real estate agents, understanding these reforms can help set expectations with vendors and purchasers, reduce confusion and contribute to a smoother settlement.
Why Have These Changes Been Introduced?
The Australian Government has expanded the AML/CTF framework to include a wider range of professions involved in high-value financial transactions.
The reforms are designed to make it more difficult for criminals to use property transactions to launder money or conceal the proceeds of illegal activity.
Although the new requirements introduce additional verification steps, they are intended to strengthen confidence in Australia’s property market while providing greater protection for everyone involved.
What Will Buyers and Sellers Notice?
For most genuine buyers and sellers, the impact will be relatively minor.
However, it is becoming increasingly common for lawyers and conveyancers to request additional information before a matter can proceed.
This may include:
- Government-issued identification
- Confirmation of residential address
- Information about companies or trusts involved in the transaction
- Information about the source of funds in certain circumstances
- Additional documentation where required to verify identity or ownership
Providing this information early will generally help avoid delays later in the transaction.
Why This Matters for Real Estate Agents
Real estate agents are often the first professional a buyer or seller speaks with.
Having a general understanding of the new AML/CTF requirements allows agents to prepare their clients for what to expect once contracts are signed.
Simple conversations early in the process can help explain that:
- Additional identity checks are now a normal part of many property transactions.
- Requests for documentation are legal requirements rather than unnecessary administration.
- Providing information promptly can help keep settlement on track.
- These changes are being implemented across the industry, not by individual firms.
Setting expectations early can reduce uncertainty and help buyers and sellers feel more comfortable when additional information is requested.
Working Together Throughout the Transaction
Property transactions rely on close collaboration between real estate agents, conveyancers, lawyers, lenders and buyers or sellers.
As the new AML/CTF framework becomes standard practice, communication between these professionals will become even more important.
When everyone understands the process and responds promptly to requests for information, transactions are more likely to proceed efficiently from contract through to settlement.
How Welcome Home Conveyancing Can Help
At Welcome Home Conveyancing, we understand that buying or selling property should be as straightforward as possible.
As part of the conveyancing process, our team will explain any additional verification requirements, answer questions and guide buyers and sellers through each step of the transaction.
By providing clear advice and practical support, we aim to minimise delays while ensuring every matter complies with the latest legal requirements.
Every Situation Is Different
The information in this article is intended as general guidance only and does not constitute legal advice. Every property transaction is different, and the legal requirements will depend on the individual circumstances and documentation involved.
Before signing a contract or proceeding with a property transaction, we recommend obtaining advice that is tailored to your specific situation. Receiving advice early can help identify potential issues, explain your legal obligations and provide confidence throughout the conveyancing process.
Final Thoughts
The introduction of the expanded AML/CTF regime represents an important change for Australia’s property industry.
While buyers and sellers may notice a few additional verification steps, these requirements are designed to protect the integrity of property transactions and create a more secure marketplace for everyone involved.
By understanding the changes and preparing early, real estate agents can help ensure their buyers and sellers experience a smoother and more informed property journey.