Why Do Real Estate Agents Need Your Personal Details?
Why Real Estate Agents in Australia Ask for Your Personal Details
A simple guide for Australian property buyers: understanding identity checks, questions about your purchase and what to expect under anti-money laundering laws.
Why are real estate agents asking more questions?
Since 1 July 2026, Australian anti-money laundering and counter-terrorism financing (AML/CTF) obligations have applied to real estate businesses providing covered property services.
These rules are overseen by AUSTRAC, the Australian Government agency responsible for regulating businesses under Australia's AML/CTF laws. They are designed to make it harder for criminals to use property transactions to move or hide money obtained through illegal activity.
For buyers, this means an agency may need to collect and check information about you and the transaction. The process is called customer due diligence, sometimes referred to as Know Your Customer (KYC).
What details might an agency ask you to provide?
The information requested can depend on who is buying the property, how it is being purchased and the checks the agency is required to complete.
Confirming your identity
- Your full legal name
- Your date of birth
- Your residential address
- A form of identification, such as a driver licence or passport
- Additional details if someone is acting on your behalf
Understanding the transaction
- Whether you are purchasing for yourself or another person
- Whether the buyer is an individual, company or trust
- How you intend to pay, such as a home loan or personal funds
- Relevant company, trust, ownership or control details
- Whether you hold a prominent public position, in some circumstances
Will I need to explain where my money came from? Sometimes. Depending on the circumstances, the agency may request further information or evidence about the source of funds, such as savings, employment income, the sale of another property, an inheritance or a gift. A question about funding does not necessarily mean you are suspected of wrongdoing.
When might these checks happen?
You may encounter different requests at different stages of your property search. Ordinary inspection or auction registration details are not necessarily the same as the formal AML/CTF checks required for a property transaction.
Making an enquiry
An agency may request contact details to respond to your enquiry or manage an inspection. This is separate from formal identity verification under AML/CTF laws.
Buying a property
Once you are identified as a purchaser, such as after a successful auction bid or accepted offer, you may be asked to provide identity and purchase details.
Completing the checks
The agency will explain what it needs and when. In some transactions, rules allow checks on the party the agency does not represent to be completed after contracts are exchanged, within legal time limits.
What if you're buying through a company, trust or representative?
The agency may need to look beyond the name on the purchase contract to understand who is involved in or controls the transaction. This can include company directors, trustees, beneficial owners and people authorised to act for the buyer.
Depending on the structure, you may be asked for relevant company registration information, a trust deed, ownership details or evidence that a representative has authority to act. The agency can explain which documents are relevant to your circumstances.
What happens to your personal information?
Privacy still matters
Information collected for identity checks must be handled in accordance with applicable privacy requirements. You can ask the agency how it collects, verifies, stores and protects your information, and request a copy of its privacy policy.
Some records must be kept
Under AML/CTF rules, agencies must keep certain customer due diligence records for the required retention period, generally seven years after the relevant business relationship ends or the last occasional transaction.
This does not mean an agency must keep a photocopy of every identity document. Requirements depend on the records and verification process involved.
Common questions from property buyers
Does every person attending an open home need to provide photo ID?
Not automatically because of AML/CTF laws. An agency might collect details for an inspection or enquiry, but formal customer due diligence is linked to the relevant property services and transaction. Ask the agency why it needs particular information and how it will be used.
Can the agency ask how I'm paying for the property?
Yes. You may be asked whether the purchase is funded by a mortgage, savings, the sale of another property or another source. In some circumstances, additional evidence about where the funds originated may be required.
What if my solicitor or conveyancer has already verified my identity?
Tell the agency. In some circumstances, AML/CTF rules allow a business to rely on checks completed by another eligible business, but this is not automatic. The agency may still need to make its own enquiries.
Could my purchase be delayed if I don't provide the requested details?
Potentially. An agency has legal due diligence obligations and may be unable to continue providing certain services if those obligations cannot be met. The timing and consequences depend on the transaction and any rules permitting delayed checks. If you are concerned, speak with the agency and your solicitor or conveyancer promptly.
Does being asked for additional information mean I've done something wrong?
No. These are routine legal and risk-based checks. Agencies may request different levels of information depending on the buyer, ownership structure and transaction circumstances.
What should you do if an agency requests your details?
Ask the agency which information it needs and why, confirm how it will be collected, and provide accurate details through the agency's nominated process. If you're unsure about a request or the timing, ask the agent to explain it before supplying sensitive documents.
If another professional is acting for you, such as a solicitor, conveyancer or buyer's agent, let the agency know. Clear communication can help avoid unnecessary duplication and delays.
Posted 5th October, 2026