11/09/2026
Have you noticed the new verification steps when buying or selling property? 🛑🏢
Anti-Money Laundering (AML) laws are now in full force across the real estate industry, and they are catching some wild transactions! Recently, our team handled the sale of a commercial factory for over $3 million. The deal settled in June with a long 9-month settlement, just beating the new AML compliance rollout.
Literally the next month... The buyer put it straight back on the market for the exact same price, vaguely claiming they "didn't want it anymore".
Alarm bells = ringing! 🚨
Under the new laws, every single agent must report suspicious behavior or large cash proposals straight to AUSTRAC.
Yes, the verification texts might be a minor inconvenience for everyday buyers, but it is a necessary step to keep the market clean.
Have you had to jump through the new AML verification hoops yet? Let us know below! 👇