New AML Laws Are Coming
INDUSTRY UPDATE · EFFECTIVE 1 JULY 2026
New Anti-Money Laundering Laws Are Coming.
Here Is What It Means For You.
From 1 July 2026, every real estate agency in Australia becomes subject to new compliance obligations. Here is what is changing, what we have already done about it, and why it will not slow down your transaction.
There has been a lot of legal jargon floating around the property industry lately, so let us cut through it. Australia is introducing new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws that bring real estate agencies under the same regulatory framework that banks and financial institutions have operated under for years. The reforms are called Tranche 2, and they kick in on 1 July 2026.
The reason? Australia's property market has been flagged internationally as a channel that can be used to move or hide illicit funds. These laws are designed to close that gap. It is a sensible reform, and frankly, it is overdue.
For the vast majority of buyers, sellers, and property owners, the practical impact is minimal. The process gets a little more thorough upfront. That is about it.
What Is Actually Changing
As your agent, Republik Property Partners is now required to verify the identity of everyone involved in a sale transaction, both vendor and buyer. We also need to understand the source of funds in certain circumstances, keep detailed records, and flag anything unusual to AUSTRAC (Australia's financial intelligence agency).
These checks happen at the following points:
Vendors — verified when you sign your listing or agency agreement.
Buyers — verified at contract signing, or within 15 days of exchange, whichever comes first.
Companies, trusts and partnerships — require identification of the beneficial owners (the real people behind the entity).
What To Expect From Us
Identity Check — a digital identity verification at or before signing. Takes a few minutes on your phone or computer.
Source of Funds — for higher-value or more complex transactions, we may ask where the funds are coming from. Standard stuff if your situation is straightforward.
Company or Trust? — a small amount of extra documentation to confirm who ultimately controls the entity. We will walk you through it.
One important note: if you choose not to provide the information required, we may not be able to proceed. This is not a Republik policy, it is the law, and it applies to every agency across the country.
What We Have Already Done
- Partnered with AML Hub, a specialist compliance firm working with agencies, conveyancers, and solicitors across Australia, to run our compliance program end to end.
- Our identity verification is fully digital, so there is nothing to print, scan, or post.
- Our team is trained and ready well ahead of the 1 July deadline.
- We work with a connected network of conveyancers, solicitors, and financiers. In many cases, if your identity has already been verified by another party in the transaction, we can rely on that and you will not need to repeat the process.
Frequently Asked Questions
Is my personal information safe? Yes. Everything collected is handled under the Privacy Act 1988, stored securely, and used only for compliance purposes. It goes no further than what the law requires.
Does this affect leasing or property management? No. The AML/CTF obligations apply to sales transactions only. If you are renting or we manage your investment property, nothing changes.
What if a trust or company is buying or selling? We will need a bit more information to identify the people who ultimately own or control the entity. We will guide you through exactly what is needed.
I have already verified my identity with my solicitor. Do I need to do it again? Possibly not. Through formal reliance arrangements, we can often rely on verification already completed by another regulated professional in the transaction. Your agent will confirm whether that applies in your case.
Questions before your next transaction? Get in touch with your Republik agent directly, or call our office on 07 5509 1700.
Republik Property Partners | Southport QLD | republikproperty.com.au