The Complete Real Estate Compliance Checklist for Australian Agents and Property Managers

Running a real estate agency in Australia means operating across one of the most compliance-intensive regulatory environments of any small business sector. You're dealing with state-based licensing, CPD obligations, trust accounting rules that carry criminal liability, privacy law, employment obligations under a modern award, WHS duties, and tax — often all at once.

This real estate compliance checklist for Australia consolidates every major compliance domain into one place. Use it to assess where your agency stands, identify gaps, and prioritise what needs attention. Requirements vary by state — we've noted where to check your specific jurisdiction's rules.

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Part 1: Licensing

Real estate agent licensing is administered at the state and territory level. There is no national licence. This means your obligations depend on where you operate.

Agent and Representative Licences

• [ ] Every agent conducting real estate transactions (sales, property management, leasing) holds a current real estate agent licence or certificate of registration (the name and category vary by state)
• [ ] Licences are current — not expired, suspended, or cancelled
• [ ] The principal licensee (the person in whose name the agency operates) holds the appropriate principal or full licence (not just a certificate of registration or representative licence)
• [ ] If the business trades under a company or partnership, the entity itself holds the required licence or is authorised under the principal's licence (check your state's rules)
• [ ] Licence renewal dates are tracked with advance reminders (30–60 days minimum)
• [ ] Any change in licence conditions, restrictions, or disciplinary outcomes has been notified to the relevant licensing authority

Where to check: | State | Licensing Authority | |---|---| | NSW | NSW Fair Trading | | VIC | Consumer Affairs Victoria | | QLD | Office of Fair Trading (Qld) | | WA | Consumer Protection (DMIRS) | | SA | Consumer and Business Services SA | | TAS | Consumer, Building and Occupational Services | | ACT | Access Canberra | | NT | Licensing NT |

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Part 2: Continuing Professional Development (CPD)

Most states require licensed real estate agents to complete ongoing CPD as a condition of licence renewal. Like licensing itself, CPD requirements are state-specific.

• [ ] The CPD requirements for your state have been identified — mandatory and elective units
• [ ] Each licensed agent in the business has a CPD plan for the current CPD year
• [ ] Mandatory CPD units are completed first — these are typically set by the state regulator and cover compliance-critical topics
• [ ] Elective CPD units are being completed to make up the required total hours or points
• [ ] CPD completion certificates or records are retained for audit purposes
• [ ] CPD is completed within the deadline set by your state (in many states, the CPD year runs to 31 March)
• [ ] Licence renewal applications are not lodged until CPD is complete and evidence is on hand

Important: In most states, failing to complete required CPD means your licence cannot be renewed. Some states also allow disciplinary action for CPD failures. This is not a low-stakes obligation.

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Part 3: Trust Accounting

Trust accounting is one of the highest-risk compliance areas for real estate agencies. Breaches of trust accounting obligations — including misappropriation, co-mingling, or even careless record-keeping — can result in criminal charges, loss of licence, and civil liability to clients. This area demands rigorous systems and regular oversight.

Statutory Trust Accounts

• [ ] A statutory trust account is maintained at an authorised institution (typically an approved bank or building society) for each relevant activity category — rental bond money, rental income, and sale deposits are often required to be held in separate accounts in some states
• [ ] The trust account is in the name of the principal licensee "as agent" or as otherwise required by your state's legislation
• [ ] No agency funds are co-mingled with trust funds — trust accounts hold only trust money
• [ ] The trust account is used only for the purposes authorised by your state's trust accounting rules — authorised disbursements only

Receipts and Disbursements

• [ ] Trust receipts are issued promptly for all trust money received
• [ ] Disbursements are only made when authorised and when cleared funds are available
• [ ] All receipts and disbursements are accurately recorded in trust ledgers
• [ ] Trust money is disbursed to the correct party (landlord, vendor, tenant) within the timeframe required by your state legislation

Monthly Reconciliation

• [ ] Trust accounts are reconciled at least monthly (this is a legal requirement in every state)
• [ ] The reconciliation compares the trust ledger balance to the bank statement balance and resolves any discrepancies before the next reconciliation period
• [ ] Reconciliations are dated, signed by the principal licensee, and retained

Annual Audit

• [ ] An independent audit of the trust accounts is conducted each year by a registered company auditor (as required by state legislation)
• [ ] The audit covers the period required by your state's legislation (typically the financial year, ending 30 June)
• [ ] The audit report is lodged with the state licensing authority within the required timeframe (typically within a few months of the end of the audit period — check your state's deadline)
• [ ] Any qualified findings or discrepancies in the audit are addressed promptly

Record-Keeping

• [ ] Trust account records (ledgers, reconciliations, bank statements, receipts) are retained for the period required by your state legislation (typically 5–7 years)
• [ ] Records are stored securely and can be produced for inspection by the licensing authority or auditor

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Part 4: Privacy Act Obligations

Real estate agencies collect significant amounts of personal information — from tenants applying for properties to vendors selling their homes. This brings obligations under the Privacy Act 1988 (Cth) (for agencies with annual turnover over $3 million, or otherwise if covered by other Privacy Act triggers) and potentially under state privacy or information laws.

• [ ] A current, accessible Privacy Policy is in place — it explains what personal information the agency collects, why, how it is used, and how individuals can access or correct their information
• [ ] Collection notices are provided to tenants and applicants at the time their personal information is collected — these must explain the purpose of collection and be provided before or at the point of collection
• [ ] Personal information is only collected for legitimate purposes related to the real estate transaction or tenancy management — not retained or used for unrelated purposes
• [ ] Tenant application forms and the information on them are stored securely — not accessible to unauthorised parties
• [ ] Physical and digital records are secured appropriately — password protection, access controls, secure disposal of hard-copy documents
• [ ] Staff are trained on their obligations when handling client personal information
• [ ] A data breach response plan is in place — what to do if personal information is disclosed, lost, or accessed without authorisation

Notifiable Data Breaches

If your agency holds personal information for 200 or more people, or meets other thresholds under the Privacy Act, you may be covered by the Notifiable Data Breaches (NDB) scheme. Under NDB:

• [ ] You have assessed whether your agency meets the NDB scheme threshold
• [ ] If covered, a data breach response procedure is in place covering assessment, notification to affected individuals, and notification to the Office of the Australian Information Commissioner (OAIC) where required

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Part 5: AML/CTF for High-Value Transactions

Historically, real estate agents were not covered by Australia's anti-money laundering and counter-terrorism financing (AML/CTF) framework. This is changing.

Under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, real estate agents will be captured by the AML/CTF regime as Tranche 2 entities. The commencement date for most Tranche 2 obligations for real estate agents is 1 July 2026.

What this means:

• [ ] If your agency facilitates the buying or selling of real property (as agent), you will need to enrol with AUSTRAC from 1 July 2026
• [ ] Your agency will need an AML/CTF programme covering customer due diligence, employee due diligence, transaction monitoring, and suspicious matter reporting
• [ ] You will need to implement customer identity verification procedures for vendors and (in some circumstances) purchasers
• [ ] Threshold Transaction Reports must be lodged with AUSTRAC for any transaction involving $10,000 or more in physical currency (cash)
• [ ] Suspicious Matter Reports must be lodged where you have reasonable grounds to suspect a transaction involves proceeds of crime or terrorism financing
• [ ] An Annual Compliance Report to AUSTRAC will be required by 31 March each year once obligations commence

Action now: Begin planning for Tranche 2 compliance if you have not already. This involves understanding your obligations, developing an AML/CTF programme, and training your staff. The commencement date of 1 July 2026 will arrive quickly, and AUSTRAC has made clear that ignorance of the new requirements is not a defence.

Even before Tranche 2 commences, cash payments of $10,000 or more in real estate transactions should already be handled carefully — large cash transactions in real estate have historically attracted regulatory scrutiny.

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Part 6: Residential Tenancies Obligations

Property management brings a separate layer of state-based obligations under residential tenancies legislation. Each state and territory has its own Act, and requirements differ — but the following core obligations apply broadly:

Bond Lodgement

• [ ] Rental bonds are lodged with the state bond authority within the required timeframe (typically within 10 business days of receipt in most states)
• [ ] Bonds are never co-mingled with agency funds or other client funds
• [ ] Bond lodgement receipts are provided to tenants
• [ ] Bond refund processes at tenancy end are handled correctly and within required timeframes

State bond authorities: | State | Authority | |---|---| | NSW | NSW Fair Trading (Rental Bonds Online) | | VIC | Residential Tenancies Bond Authority (RTBA) | | QLD | Residential Tenancies Authority (RTA) | | WA | Bond Administrator (Consumer Protection) | | SA | Consumer and Business Services (CBS) | | TAS | Rental Deposit Authority (Consumer, Building and Occupational Services) | | ACT | ACT Revenue Office | | NT | NT Government (Department of Infrastructure, Planning and Logistics) |

Repairs and Maintenance

• [ ] Urgent repairs are attended to within the timeframe required by your state's tenancy legislation (typically within 24–48 hours for specified urgent repairs)
• [ ] Non-urgent repair requests are acknowledged and actioned within reasonable timeframes
• [ ] A system exists for receiving, recording, and tracking maintenance requests and their resolution

Entry Notices

• [ ] Tenants are given appropriate notice before entry to the property in all circumstances — even for inspections, maintenance access, and open inspections during a sale
• [ ] Notice periods comply with your state's tenancy legislation (typically 24–48 hours minimum for most entry purposes, with some exceptions)
• [ ] Entry is only made for permitted purposes and at agreed times

Rental Increases and Tenancy Agreements

• [ ] Lease agreements comply with current state legislation (including any prescribed terms that must be included)
• [ ] Rent increase notices are given the required notice period before taking effect
• [ ] Rent increases comply with any frequency restrictions or caps applying in your state (several states have introduced limitations)

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Part 7: Employment Under the Real Estate Industry Award

If your agency employs property managers, sales support staff, office administrators, or junior agents, they are likely covered by the Real Estate Industry Award 2020 (the Award). The Award sets minimum pay rates, allowances, and employment conditions for most non-managerial employees in real estate agencies.

• [ ] Every employee's classification under the Award has been determined correctly (property manager, sales representative, administrative employee, etc.)
• [ ] Pay rates are at or above the current Award minimum for each classification (Award rates increase annually on 1 July — check for updates)
• [ ] Commission structures for sales staff comply with Award requirements — particularly the base rate guarantee obligations
• [ ] All applicable allowances are paid (car allowance, phone allowance, etc., where relevant under the Award)
• [ ] Overtime is calculated and paid correctly
• [ ] Employment contracts are in writing and contain the required information
• [ ] The Fair Work Information Statement and (where relevant) the Casual Employment Information Statement have been provided to each employee
• [ ] Employment records are maintained for all current and former employees for 7 years
• [ ] Pay slips are issued within one working day of each pay period

Note: Sales agents who operate as independent contractors rather than employees are outside the Award — but the employee/contractor distinction must be assessed carefully. A commission-based salesperson who works exclusively for your agency, has set hours, and uses your systems and branding may be an employee, not a contractor, regardless of the arrangement's label.

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Part 8: WHS Obligations

Real estate agencies have WHS obligations both as office-based employers and in the context of property inspections.

Office WHS

• [ ] WHS management system is in place — risk assessments, safe work procedures, emergency procedures
• [ ] Hazard register has been documented for the office
• [ ] Emergency evacuation procedures are documented, communicated, and tested
• [ ] First aid kit is current and accessible
• [ ] Workstations are ergonomically set up (screen height, chair adjustment, keyboard placement)
• [ ] Psychosocial hazards are assessed — real estate staff can face customer aggression, high workloads, and emotional demands (particularly in stressful property transactions)

Property Inspection Safety

• [ ] Agents conducting property inspections — open homes, routine inspections, final inspections — have been trained to identify and manage safety risks
• [ ] Procedures are in place for lone working risks during property inspections, including check-in systems and reporting protocols
• [ ] Known hazards at managed properties are communicated to staff before inspections

Workers Compensation

• [ ] Workers compensation insurance is current and covers all employees (including casuals)
• [ ] The premium is paid and up to date
• [ ] Injury management and return-to-work procedures are in place

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Part 9: Tax and Payroll Compliance

• [ ] ABN is current and registered details are up to date
• [ ] Business is registered for GST (required if annual turnover exceeds $75,000)
• [ ] BAS is lodged on time (quarterly or monthly, as applicable)
• [ ] Business is registered for PAYG withholding and withholding is applied correctly to employee wages
• [ ] STP Phase 2 is active in your payroll software — payroll is reported to the ATO with disaggregated income types
• [ ] Superannuation is paid at the current rate (12% from 1 July 2025) on time — currently quarterly, transitioning to payday super from 1 July 2026
• [ ] Employee tax file number declarations are on file for all employees
• [ ] Pay slips issued correctly and within required timeframe
• [ ] Company annual review fee paid to ASIC on time (for companies)
• [ ] Business name registration is current (renewed every 1 or 3 years through ASIC)

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How Often Should You Review This Checklist?

Monthly: Trust account reconciliations, BAS preparation, super payment, maintenance request tracking

Quarterly: Super payment (until June 2026 — payday super from July 2026), WHS hazard review, privacy compliance check

Annually: CPD completion (due by 31 March in most states), trust account audit lodgement, licence renewal, workers compensation renewal, insurance renewals, Award rate review (1 July), AUSTRAC Annual Compliance Report (31 March — from 2027 for Tranche 2 entities)

As needed: When agents join or leave, when the business takes on new management agreements, when relevant legislation changes in your state

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Too Much to Track? That's the Point.

This checklist covers more than 60 distinct compliance obligations — and it's not exhaustive. The combination of state-based licensing and tenancy law, national privacy and AML/CTF frameworks, employment law, and tax obligations makes real estate one of the most complex compliance environments in Australian small business.

Most small agencies don't have a compliance team. They have the principal, a property manager, a bookkeeper, and whoever handles admin — all of whom are focused on the next transaction. For broader obligations, see our small business compliance checklist.

Reguladar is built for exactly this situation. It gives you a single dashboard showing every compliance obligation that applies to your specific business, when each one is due, and what you need to do. You get alerts before deadlines, not after them.

Start your free compliance check at Reguladar →

This checklist is general information only. Requirements vary significantly by state, territory, and business type. Seek professional advice for your specific situation. Regulatory requirements change — always verify current requirements with the relevant state authority.