Important New AML Identity Verification Requirements for Property Buyers & Sellers

What You Need to Know From 1 July 2026

From 1 July 2026, new Australian legislation will require real estate agencies to complete identity verification and customer due diligence checks as part of many property transactions.

While these checks are not entirely new, real estate agencies already verify property owners before listing a property for sale and the changes have already been practiced by Australian banks and financial institutions for nearly the past two decades. The key changes are that verification will now be completed through a secure encrypted portal with additional identification steps, and property buyers will also be required to complete the process.

Australia is aligning with countries such as New Zealand, the United Kingdom, Singapore and Hong Kong, where similar anti-money laundering requirements already apply to real estate transactions.

For most buyers and sellers, the process will be quick and straightforward, simply involving the provision of identification documents and answering a few questions before a transaction can proceed.

What Does This Mean For Sellers?

If you're selling a property, we'll be required to verify your identity and complete certain compliance checks before your property can be marketed for sale.

To help avoid delays, we recommend having your identification documents ready when meeting with your agent. Our team can guide you through the process and answer any questions along the way, otherwise you will be sent a link so it can be completed on your own.

For most sellers, this will simply involve providing a current driver's licence or passport and completing a quick selfie verification through our secure online portal.

If you're selling through a trust, company or SMSF, additional documentation may be required to verify the individuals who own, control or benefit from the entity.

What Does This Mean For Buyers?

If you're purchasing a property, we will be required to complete identity verification and customer due diligence checks once your offer has been accepted.

In some circumstances, additional information may be requested, including information relating to ownership structures or the source of funds used in a transaction.

Our team will guide you through any requirements that apply to your purchase.

What Documents Might Be Required?

The specific documents required may vary depending on your circumstances.

Individuals

For most people, the process is simple and can be completed using a current driver's licence or passport, along with a quick photo verification (selfie) through the secure portal.

Companies

• Confirmation of who ultimately owns or controls the entity

• Company or trust registration documents - ABN/ACN, trust deed, or company extract

• Photo ID for all directors, trustees, or beneficial owners

• Source of funds documentation will typically be required for these transactions

Trusts & SMSFs

• Trust deed

• Trustee details

• Photo ID for all individuals who control or benefit from the trust

How It Works

Receive Your Secure Link

We'll send you a secure, encrypted verification link via email or assist you with the process in person.

Upload Your Identification

Please add a photo of your drivers license and/or your passport through the secure portal. The system will guide you through the required documents. The system will also require you to take a photo verification of yourself (selfie).

Instant Verification

In most cases, verification is completed within minutes and should not delay your property transaction.

Similar Checks Are Standard

You may also be asked to complete similar verification checks with your bank, settlement agent or finance provider as part of their legal obligations.

Your Privacy Matters

We understand that providing personal information is important and we take that responsibility seriously.

Any information collected as part of these requirements is:

✓ Stored securely

✓ Accessed only by authorised personnel

✓ Used solely for compliance purposes

✓ Managed in accordance with Australian privacy laws

Frequently Asked Questions

Will these checks delay my sale or purchase?

In most cases, no. Verification is generally completed within minutes. The best way to avoid delays is to provide the requested information as early as possible.

I've bought or sold property before. Why is this changing?

These requirements form part of new legislation being introduced across Australia's real estate industry from 1 July 2026.

What if I'm buying or selling through a trust or company?

Additional documentation may be required so we can identify the individuals who ultimately own or control the entity.

Why am I being asked for source of funds information?

In some circumstances, legislation requires us to understand how a property purchase is being funded.

Is my information secure?

Yes. All information is handled in accordance with Australian privacy laws and stored securely using approved systems.

What happens if I don't provide the required information?

Unfortunately, legislation prevents us from proceeding with certain services until the required verification checks have been completed.

Questions?

Our team is here to make the process as simple as possible.

If you have any questions about the new requirements, please don't hesitate to contact Realestate 88.