10 questions every real estate principal should ask before choosing AML software
Choosing an AML/CTF platform isn't like choosing a CRM. Get it wrong, and you could end up with a system that costs more than expected, slows down your team or leaves gaps in your compliance program.
Tranche 2 obligations started on 1 July 2026. If you haven't chosen a platform yet, these are the questions you need to ask now.
1. Does it do more than identity verification?
Identity verification is only one part of AML/CTF compliance. Your platform should also support the creation of an AML/CTF risk assessments and policy; support beneficial ownership checks, sanctions, PEPs and negative media screening; and provide ongoing monitoring, suspicious matter reporting, annual compliance reporting, recordkeeping and staff training. If it only verifies identities, you'll still need other systems to meet your obligations.
2. Was it built for Australian real estate?
Some platforms have been adapted from overseas products or developed for banks and financial institutions. Real estate agencies have different workflows, risks and regulatory obligations.
Look for a platform designed specifically for Australian real estate and Australia's Tranche 2 reforms.
3. What will it actually cost us?
Don't stop at the monthly subscription. Ask about KYC fees, KYB fees, beneficial ownership checks, enhanced due diligence and support costs. For most agencies, the per-verification fee will have a bigger impact on annual costs than the subscription itself. At $8 per check, 30 monthly verifications cost $2,880 a year. At $40, it's $14,400. Before comparing providers, get the per-verification fee in writing.
4. Can it handle companies and trusts?
Not every client is an individual. If you're dealing with companies, trusts or other complex ownership structures, your platform should be able to identify beneficial owners and support enhanced due diligence where required.
5. What happens when we encounter something unusual?
Software is great for everyday workflows. But what happens when your team encounters a complicated trust structure, a foreign entity or a customer that raises concerns? Ask whether qualified AML specialists are available when you need them and if that access is included in the price.
6. Will it help us prepare for an AUSTRAC review?
Your software shouldn't just collect information. It should help you demonstrate compliance. Look for clear audit trails, timestamped records of customer verification, risk ratings and escalations, and structured reporting to retrieve information quickly if AUSTRAC requests it.
7. Is training included?
Remember that training is mandatory and will be part of your reporting requirements, so you don’t want a solution that does not include a training component. Your compliance program is only as strong as the people using it. Staff need to recognise red flags, understand their responsibilities and know when to escalate concerns. Look for role-based training modules tailored to real estate, with completion tracking and refresher training when requirements change.
8. Can it grow with our business?
Whether you have one office or twenty, your compliance processes should remain consistent. Look for a platform that gives your compliance officer central oversight while allowing each office to manage its day-to-day responsibilities.
9. Does it fit into the way we already work?
Good compliance shouldn't slow deals down. The best platforms fit naturally into your existing onboarding process, allowing agents to complete verification and compliance tasks without unnecessary friction for clients or staff.
10. Who stands behind the platform?
Some providers offer software and little else. Others combine technology with certified AML specialists who can help with risk assessments, complex customer structures, policy implementation and ongoing compliance questions. That extra layer of expertise can make a significant difference once your obligations become part of everyday business.
Choose a partner, not just a platform
Tranche 2 compliance isn't a one-off project. It's an ongoing operational responsibility. Choosing the right software isn't just about features or price. It's about finding a solution that helps your agency implement, manage and demonstrate compliance while keeping deals moving. Get this right and you'll build a compliance program that's practical, defensible and designed to stand up when it matters most.
From our initial introduction right through to a compliant solution, the entire process was effortless. From a simple risk questionnaire, I now have my Risk Assessment and AML/CTF Policy in place, and team training done, ahead of July - it’s a significant weight off my shoulders. Highly recommend
Christine Heywood, Principal, R|E Collective.
About Visibl
Visibl is an Australian AML/CTF compliance platform built specifically for businesses captured under Australia's Tranche 2 reforms. Combining purpose-built technology with certified AML specialists, Visibl helps real estate agencies implement, manage and demonstrate AML/CTF compliance without needing to build an internal compliance function. The platform brings onboarding, customer verification, risk assessments, monitoring, reporting, training and audit-ready recordkeeping together in one place, helping agencies keep deals moving while meeting their regulatory obligations.
As a real estate agency sign up with Visibl and get compliant today.