NEW COMPLIANCE CHANGES IMPACTING BUYERS & SELLERS - 1st July 2026
Important changes to Australia's Real Estate industry that will come into effect from 1 July 2026.
Under new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation, all real estate agencies will be required to complete identity verification and customer due diligence before providing certain property services.
This means that if you're buying or selling with Select First Property Group, we may need to verify your identity and collect a small amount of additional information.
While these new requirements are part of updated legislation, the way we work with you won't change. Our team will continue to make the process as simple, secure and seamless as possible, guiding you through every step along the way.
But, please be patient as we navigate this transition phase.
The new rules apply only to buyers & sellers, not property management-related services.
What We May Request From You:
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INDIVIDUALS A government-issued photo ID, such as a passport or driver’s licence. |
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COMPANIES Director identification and details of beneficial ownership. |
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TRUSTS & SMSFS Trust deed, trustee identification and relevant ATO, ASIC or supporting documentation. |
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SOURCE OF FUNDS In some circumstances, information regarding the origin of the funds being used for the purchase. |
