Important change coming to all property transactions from 1 July 2026.

If you’re planning a property move this year, whether you’re buying, selling, or simply exploring your options, there’s an important change coming to all property transactions from 1 July 2026.

Every real estate agency in Australia is now legally required to verify the identity of buyers and sellers before a property can be listed or sold. Here’s what that means in practice, and what you can expect when working with us.

Why the change.

Australia’s Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws have applied to banks, casinos and financial institutions since 2006. Real estate is now being brought into the same framework.

Property is considered one of the highest-risk sectors for money laundering because of the ability to move significant wealth through a single transaction, combined with complex ownership structures. These new laws are designed to close that gap and bring Australia in line with international standards.

This is federal legislation, the AML/CTF Act, and it applies to every agency across the country without exception.

What you’ll need to provide.

For most buyers and sellers, the requirements are minimal:

• Your full name
• Your date of birth or residential address

If you’re transacting through a company or trust, there are some additional requirements:

• Confirmation of Nominee Director/Nominee Shareholder
• Constitution/Shareholder Agreement: outlining the powers that bind and regulate

In some circumstances, we may also need to understand the source of funds involved in a purchase. This is a requirement of the legislation, not a reflection on you or your transaction.

How it works.

We have implemented AMLHUB, the industry-standard platform purpose-built for managing Anti-Money Laundering compliance in real estate, to manage the process on your behalf.

Here’s how it works:

• We provide your email address and mobile number to AMLHUB.

• They will contact you directly to ask a few questions about the property.
• You’ll receive a secure link via email or text to complete a biometric check using your photo ID.
• If the biometric check isn’t suitable, you’ll be directed to a self-service portal to upload the required documents instead.
• Once everything is verified, we’re clear to proceed.

Your details are used solely for identity verification, nothing else. They’re stored securely with AMLHUB, which is ISO/IEC 27001:2022 certified and built specifically for managing real estate AML/CTF compliance. Your information is retained for seven years as required by law and will not be used for marketing or shared with third parties.

Frequently asked questions

Do I have to do this?
Yes. From 1 July 2026, identity verification is a legal requirement for all property transactions in Australia. It applies to every agency, without exception. Without it, we’re unable to proceed with a listing or sale.

Why are you asking for my personal information?
It’s a requirement under Australia’s AML/CTF Act. Every real estate agency must verify the identity of the people they’re transacting with before a deal can proceed. It’s the same process your bank has always followed.

I’ve worked with Oslo before. Do I still need to do this?
Yes. The legislation applies to all clients regardless of prior history with us. If we hold existing information on file, we may simply need to update it, but the verification still needs to be completed.

What if I’m transacting through a company or trust?
There are a few additional steps involved. We’ll need information about the directors, shareholders, trustees, or beneficiaries connected to the entity. Your Oslo agent will walk you through exactly what’s required at the right time.

What do you do with my information?
Your information is used only for identity verification under the AML/CTF Act. It is stored securely in the AMLHUB platform, retained for seven years as required by law, and never used for marketing or shared with third parties.

What if I’d prefer not to provide my information?
Unfortunately, we’re unable to proceed with a transaction without it. This is a legal obligation that applies to all agencies; there’s no alternative pathway. If you have concerns about how your data is handled, your Oslo agent is happy to talk you through the process in detail.

For the official detail on these reforms, visit: austrac.gov.au

Victorian-specific guidance: reiv.com.au/advocacy/amlctf

Want to know more? Your Oslo agent is here to help.