If a client signed an agency agreement before 1 July 2026 but the sale or transaction completes after that date, you will generally still need to run AML checks, the obligation applies to the service, not only to the date the agreement was signed.
The general rule
Under the AML/CTF Act (Tranche 2), AML obligations apply when you provide a designated service, not simply when a contract is signed. If you are actively providing real estate services (acting on a listing, facilitating a sale) after 1 July 2026, AML requirements apply regardless of when the agency agreement was executed.
What this means in practice
Agreement signed before 1 July, sale completes after 1 July: AML checks are required. You are providing the service after the commencement date.
Agreement signed and sale fully completed before 1 July: AML checks are not required for that transaction.
New agreements signed on or after 1 July: AML checks are required from the outset.
When in doubt, run the check
Completing an AML check on a client where you are uncertain is always the safer approach. It creates an audit record and demonstrates good-faith compliance to AUSTRAC.
Need more certainty?
AUSTRAC has published guidance on transitional provisions at austrac.gov.au. If your situation is complex, seek independent legal advice.
This article provides general guidance only and is not legal advice. For advice specific to your circumstances, contact AUSTRAC or your legal adviser.
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