Do real estate agents need to maintain a written AML/CTF program?

Maintain a written AML/CTF program. Under the reformed AML/CTF Act (in force for existing reporting entities from 31 March 2026 and for Tranche 2 entities from 1 July 2026), a reporting entity's AML/CTF program is an ML/TF risk assessment plus AML/CTF policies that mitigate and manage those risks — this replaced the former Part A / Part B structure. The policies cover customer due diligence, ongoing CDD, transaction monitoring, reporting, record keeping, personnel due diligence and training, governance and senior manager approval, and the designation of an AML/CTF compliance officer.

Trigger: Becoming a reporting entity.

Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 27 of those industries the answer for "Maintain a written AML/CTF program" is no. Real estate agents is one of the 8 where the answer is different: yes.

The deciding fact for real estate agents: Tranche 2 industry (Real estate agents) — AML/CTF reporting entity from 1 July 2026.

About the industry: Selling agents, buyer's agents, and property developers involved in real estate transactions. From 1 July 2026 captured by AML/CTF Tranche 2 reforms.

Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires an AML/CTF designated service).

Each cell is the engine's outcome for a business in real estate agents with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.

• Property management of rental income through a trust account is excluded by the Rules, so a rent-roll-only agency is not caught by that activity.
• Leases of 30 years or less, easements, mortgagee interests and standalone licences to occupy are outside the definition of real estate.

AUSTRAC publishes a real estate starter kit for agencies that broker sales only (not developers) and meet the other suitability criteria.

When due

Before providing the first designated service. Maintained on an ongoing basis, with independent evaluation at least once every 3 years.

Evidence to keep

ML/TF risk assessment, AML/CTF policies, governing body / senior manager approval records, compliance officer designation and AUSTRAC notification, training records, independent evaluation report.

Maximum penalty

Civil penalty of up to $36.4M (body corporate) or $7.28M (individual), maximum per contravention. Separate criminal offences also apply.

Regulator

AUSTRAC

Jurisdiction

Commonwealth (national)

• Customer due diligence (KYC) on every customer: Yes
• Designate an AML/CTF Compliance Officer: Yes
• Detect + enhance due diligence on Domestic + Foreign PEPs: Yes
• Enrol with AUSTRAC as a reporting entity: Yes
• Suspicious matter, threshold, and IFTI reporting to AUSTRAC: Yes
• Independent review of AML/CTF program: Yes
• All 26 answers for real estate agents

• Accountants & bookkeepers: Yes
• Lawyers & solicitors: Yes
• Conveyancers: Yes
• Trust & company service providers: Yes
• Precious metals & stones dealers: Yes
• Banks & ADIs: Yes
• Gambling & wagering: Yes