When you successfully put in an offer to buy a property, you’ll need to provide information to the real estate agent acting for the buyer. Find out what information they need and why.
Why you need to provide personal information
We regulate real estate services to combat money laundering, terrorism financing and proliferation financing. As part of this regulation, when you’re a customer of a regulated business (such as real estate, conveyancing, legal professionals, accountants and financial advisers) they may need to establish your source of funds and source of wealth. This is part of their customer due diligence obligations.
There are consequences for regulated businesses if they don’t verify this information.
Learn more about who and what we regulate.
What information you might be asked for
Once you’re the successful purchaser, you may be asked for photographic identification (such as your driver’s licence) that shows your:
- full name
- residential address
- date of birth.
Digital driver’s licences are also an acceptable form of identification.
You’ll also be asked:
- to confirm how you’re paying for the property, for instance through a loan
- if you’re purchasing the property using a legal arrangement (such as a trust)
- if you’re a politically exposed person – these are people entrusted with significant public responsibilities and power.
The real estate agent will tell you when they need this information.
Remember, by providing this information you’re helping to keep our financial system free from criminal abuse.
Your privacy
The information you give these businesses protected under the Privacy Act 1988.
Related pages
This guidance sets out how we interpret certain Australian legislation, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.