Industry guide
Real Estate
From 1 July 2026, real estate agencies — including sales, property management and strata — become reporting entities under AUSTRAC Tranche 2. Here is what your agency needs in place.
Key obligations
Enrol with AUSTRAC
AUSTRAC enrolment is open now — register your business as a reporting entity as soon as possible. Obligations commence 1 July 2026.
Adopt a written AML/CTF program
Document Part A (risk management) and Part B (customer due diligence) tailored to property transactions.
Verify customer identity
Conduct KYC on buyers, sellers, landlords and tenants for designated services.
Identify beneficial owners
For company and trust clients, identify natural persons holding 25% or more, or otherwise in control.
Submit suspicious matter reports
Lodge SMRs within 3 business days (24 hours for terrorism financing) of forming a suspicion.
Train your staff
Annual AML/CTF training for agents, property managers and admin staff handling client funds.
Common pitfalls
Treating property management as out of scope
Rent collection and trust account handling can be designated services depending on structure.
Skipping beneficial-owner checks for SMSF buyers
Self-managed super funds and family trusts almost always require beneficial owner identification.
Cash-on-settlement without an SMR
Large cash deposits at settlement are red flags and likely require a suspicious matter report.
One-size-fits-all risk assessments
Each office or franchise should risk-rate its own client base, suburbs and transaction types.
Frequently asked questions
Are property managers caught by Tranche 2?
Yes — when they handle client money or facilitate the buying, selling or transfer of real estate they are providing designated services.
What is the deadline for real estate agents?
AUSTRAC enrolment is open now and obligations commence 1 July 2026. The original 31 March 2026 enrolment milestone has passed — if you haven't enrolled, do it immediately.
Do small one-person agencies need a program?
Yes. The program can be proportionate to your size and risk, but a written AML/CTF program is required for every reporting entity.
Not sure where you stand?
Take our free 3-minute Tranche 2 readiness quiz to get a personalised risk score and next-step roadmap for your business.