For Real Estate Agents

AML compliance for
real estate agents

Tranche 2 deadline: July 1, 2026. Verify every buyer, seller, and tenant in minutes. Stay compliant. Avoid penalties.

AUSTRAC compliant
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What you need to do

Tranche 2 AML/CTF requirements for real estate agents

Customer Due Diligence (CDD)

Verify the identity of every buyer, seller, landlord, and tenant (for leases ≥ $10,000/month) using an approved method (photo ID + biometric check).

Ongoing monitoring

Check clients against AML watchlists and politically exposed persons (PEP) databases during onboarding and throughout the relationship.

Record keeping

Maintain all verification records, transaction details, and due diligence documentation for 7 years after the transaction completes.

Suspicious Matter Reporting (SMR)

Report any suspicious transactions or behaviours to AUSTRAC within 24 hours of forming suspicion.

AML/CTF Program

Develop and maintain a written AML/CTF compliance program, train your staff, and appoint a compliance officer.

Penalties for non-compliance

Civil penalties up to $27.5 million per breach. Criminal prosecution with up to 10 years imprisonment for serious or intentional non-compliance.

Common questions

Everything real estate agents need to know about Tranche 2

When does Tranche 2 start for real estate agents?
July 1, 2026. All real estate agents in Australia must verify the identity of buyers, sellers, and landlords for transactions from this date.
What transactions require AML checks?
Sales and purchases of real property, and leases where the rent is $10,000 or more per month. Both residential and commercial properties are covered.
Do I need to verify both buyer and seller?
Yes. You must verify the identity of all parties to the transaction — buyers, sellers, landlords, and tenants (for high-value leases).
What if my client refuses to verify?
You cannot proceed with the transaction. AML/CTF compliance is mandatory, and completing a transaction without proper verification exposes you to significant penalties.
How long do I keep verification records?
AUSTRAC requires you to keep all verification records for 7 years after the transaction completes.
What are the penalties for non-compliance?
Civil penalties up to $27.5 million per breach, or criminal prosecution with up to 10 years imprisonment for serious offences.

Start verifying clients today

Don't wait until July 2026. Get your verification process set up now.