AML SoftServe

For buyers' agents

AML/CTF compliance for Australian buyers' agents

Buyers' agents are captured under Australia's Tranche 2 AML/CTF reforms from 1 July 2026. Whether you run a solo practice or a boutique agency, you now have AUSTRAC obligations. AML SoftServe gives you the program, workflows and support to enrol and stay compliant.

What changed on 1 July 2026

Under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, buyers' agents providing designated services in relation to real property are reporting entities. Enrolment opened 31 March 2026, obligations commenced 1 July 2026, and practices already providing designated services on that date had to enrol with AUSTRAC by 29 July 2026.

Which buyers' agent activities are designated services?

You're providing a designated service when you assist a purchaser in acquiring real property. Typical touchpoints include:

  • Sourcing on-market or off-market properties for a purchaser
  • Representing a purchaser at auction or in private negotiation
  • Facilitating or preparing a contract of sale for the buyer
  • Advising on structure of purchase (personal, company, trust, SMSF)
  • Handling deposit funds on behalf of a purchaser
  • Coordinating settlement between purchaser and vendor / conveyancer

Solo buyers' agents have the same obligations as agencies, there is no small-practice exemption under the AML/CTF Act. If your annual turnover is under the small-business threshold, some administrative concessions may apply but the core CDD and program obligations do not change.

What your practice must do

01

Enrol via AUSTRAC Online

You will need your ABN, your buyers’ agent licence details for each state you operate in (where required), a list of the purchaser-side designated services you provide, and your Compliance Officer’s details. Solo buyers’ agents enrol as sole traders or their trading company. Sub-agents working under a principal generally sit under the principal’s enrolment. Existing practices had to enrol by 29 July 2026; new practices within 28 days of taking on their first captured client.

02

CDD at engagement, not at exchange

Full identity verification of the individual purchaser at the point you sign an engagement letter, before you start property research or shortlisting. Where the purchase will use a company, discretionary trust, unit trust or SMSF vehicle, capture beneficial ownership at the 25 percent threshold plus controlling persons. Trust deeds, corporate extracts and IDs go on file before the first property tour.

03

Understand source of funds for every high-risk purchaser

Buyers’ agents deal disproportionately with high-net-worth and offshore purchasers, the two highest source-of-funds risk categories in AUSTRAC’s guidance. For offshore capital, inter-generational family transfers, business sale proceeds or leveraged super release, document where the funds are coming from and screen the ultimate payer for PEP and sanctions exposure. Comfort letters from foreign banks are supporting evidence, not a substitute for your own verification.

04

Run a proportionate AML/CTF Program

Solo and boutique practices can run a proportionate program: one page of governance, one page of risk assessment segmented by client type (domestic HNW, offshore, expat, SMSF), a repeatable CDD checklist and evidence of continuous screening. AUSTRAC does not expect a 40-page manual from a solo practice, but they do expect every purchaser to have been through the same repeatable process. Independent evaluation every 3 years.

05

The buyers'-agent red flags AUSTRAC will ask about

Common patterns worth lodging an SMR on: purchaser insists on off-market only with no property criteria, asks to settle in cash or via unusual payment rails, changes name on the contract shortly before exchange, uses a nominee purchaser, refuses to explain source of funds, or wants the property held in a structure disproportionate to the purchase price. Any one may be innocuous; a combination is SMR-worthy. Lodge within the timeframes, and do not signal to the client that you have lodged.

06

Retain everything for 7 years

CDD records, property search files with the client’s stated instructions, engagement letters, transaction records, PEP and sanctions screening logs, training completion evidence, program versions. Buyers’ agents often close a matter after settlement and archive: you can’t. The 7-year clock starts when the customer relationship ends or the transaction completes, whichever is later.

How AML SoftServe fits a buyers' agent practice

AML/CTF Program sized for solo and boutique buyers’ agent practices, proportionate governance and risk assessment that meets AUSTRAC expectations without the 40-page manual that a franchise agency would need.
Purchaser CDD workflow that runs at engagement, not at exchange: capture identity, beneficial ownership behind corporate / trust / SMSF vehicles, and stated instructions before you start property research.
Source-of-funds workflow built for the client mix buyers’ agents disproportionately handle: offshore capital, inter-generational transfers, business sale proceeds and leveraged super release. Capture, screen and evidence provenance of the ultimate payer in one flow.
Continuous PEP, sanctions and adverse-media screening: the risk profile of your typical high-net-worth and offshore client base makes this non-negotiable, not a nice-to-have.
Training for principal and sub-agents alike: track completion, refresh annually, prove the 100 percent trained position to AUSTRAC on request even for casual or referral-only sub-agents.
Optional Compliance Officer support, our team runs CDD/EDD end-to-end for you so a solo practitioner or boutique team can stay focused on sourcing, negotiation and settlement instead of paperwork.
AUSTRAC-review-ready audit trail with 7-year retention: every CDD file, source-of-funds record, screening result and training completion, exportable in one click well after the matter has otherwise been archived.

Pricing for buyers' agents

Self-serve plans start at $0/month with per-check KYC/KYB rates, or our team runs case work for you on the fully managed track. Use the plan calculator on the pricing page to find the cheapest option for your volume.

See pricing

The 29 July enrolment deadline has passed.

Not enrolled yet? Book a 30-minute call, we'll audit which of your engagements are captured and get your practice compliant fast. Or read the full Buyers' Agent FAQ.

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