If you're thinking about buying or selling property in Victoria, there’s a new step in the process to be aware of.
From 1 July 2026, AML/CTF obligations now apply to real estate professionals involved in property transactions across Australia.
What this means:
When selling, agents must complete identity and customer due diligence checks as part of the process. This includes verifying identity and may involve requesting additional information depending on the situation. It’s similar to what banks have done for years.
If you're buying, you can expect similar checks as your purchase progresses.
Is it extra paperwork? Yes, a little. But it helps reduce the risk of money laundering and fraud while improving transparency in the property market.
If you're planning a move in Geelong and want to understand how this may affect your timeline, feel free to reach out.