ANTI LAUNDERING WHY IS IT UP TO US?

 Australia’s new anti-money laundering and counter-terrorism financing (AML/CTF) rules are set to shake up the real estate industry, but the message from those on the front line is clear: don’t panic, prepare.

From 1 July, agents will be required to undertake basic AML checks on all parties to a property transaction, including verifying identities, tracking deposits, and reporting suspicious activity to the Australian Transaction Reports and Analysis Centre (AUSTRAC). This should be the Government's job not Real Estate Agents, no matter which way you put it it's putting more stress on to Agents and the extra costs to the business is totally unfair.

For many, the reforms sound complex. But one expert says the reality is far less confronting. Depends on which side of the fence you sit I suppose but it's not that easy either.

Rather than turning agents into investigators, the changes are about formalising processes that already exist in day-to-day transactions, and protecting agencies from risk. That's just to make the Government feel better.

Speaking on We Are Selling with Lee Woodward, Lucas McEntee from Riverstone Partners said compliance can be embedded directly into the existing listing-to-settlement workflow, without disrupting how agents operate. That's ridiculous as someone needs to be delegated to do all this extra work typical saying that.

Platforms like Riverstone’s AgencyAML are emerging to support that shift, allowing agents to meet compliance obligations without subscriptions or high upfront costs, starting at just $6 per check, while maintaining a clear audit trail. Why should the agent have to pay any money for a check.

“Agents are already doing much of the AML process during settlement,” McEntee said, pointing to its alignment with existing trust account processes. Thats just not true, we check license and passport for free.

“The AgencyAML solution simply digitises key parts of AUSTRAC’s AML starter kits, allowing the agencies to input the data, remaining compliant.” The inputting is time that someone has to be allocated to do.

Under the solution, every action is recorded, critical in a regulatory environment where, as McEntee warned, if it’s not documented, “it didn’t happen”. 

Beyond documentation, the platform offers training insights to help agents navigate key pressure points, including risk identification, reporting obligations, and decisions around whether transactions can proceed. Doing the Government's work for them.

So what does this mean for agents on the ground? A lot more paperwork, time and money.

Put simply, their role isn’t to investigate crime. It’s to document standard processes and flag anything suspicious, maintaining accountability without slowing deals. Exactly we shouldnt be doing this at all....

That distinction is key, according to Jeremy Moller from Norton Rose Fulbright, who said appointing a compliance officer is essential, even in smaller offices. Again someone has to be allocated yet another job add to their role.

The role ensures AML responsibilities are managed day-to-day and that any issues are properly escalated to AUSTRAC. 27 years I have not had any one dodgy.

While larger agencies may require more sophisticated systems, the combination of digital tools and human oversight is expected to make compliance manageable across the board. The poor little guy get's hit again.

McEntee stressed that while technology can automate tracking and reporting, it cannot replace experienced staff applying judgment in real time. Older experienced agents you mean.

Embedding AML/CTF processes into daily workflows, he said, reduces resistance and shifts the mindset from fear to confidence. You make it sound so easy and it's bloody not, seriously a lot more work for us to do the Government's job.

And because of this, proactive agents who employ innovative tools and implement training regimens are likely to find the reforms far less daunting than initially feared. Bigger agencies.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!

STAMP DUTY SCAM BEWARE

 A bank worker has narrowly saved a home buyer from losing $100,000 in a close call after a scammer impersonated a solicitor requesting stamp duty payment.

A National Australia Bank (NAB) staff member has stopped a home buyer from losing thousands in a scam in which the customer received a fraudulent email requesting payment of stamp duty.

The home buyer, referred to as Daniel, was in the process of buying a home and was preparing to pay $100,000 when NAB flagged the transfer.

NAB digital fraud and scams analyst, Sanu Ale Magar, was reviewing the matter and called the customer, who explained what the payment was for.

Magar said stamp duty was a common part of the home-buying process, but felt something was off about the matter and decided to look into it further.

Daniel told NAB he had received payment instructions in an email from his solicitor and believed they were legitimate, given where he was up to in the settlement.

According to Magar, property settlement scams were often successful as the scammers strategically sent the emails at the right time in the process.

“People are expecting to move large sums of money, so the request doesn’t raise an immediate alarm,” she said.

After placing the transfer on hold, Magar told Daniel to independently confirm the payment details with his solicitor using a trusted phone number.

“When Daniel called back, he said the email had not come from the solicitor at all. It appeared the bank details were fraudulent and part of a sophisticated impersonation scam,” she said.

Magar said the transfer was stopped right before any money was lost, as the funds would have been very difficult to recover.

“For many people, this money represents their life savings. Taking a moment to stop and verify details can prevent enormous financial and emotional stress,” she said.

The case has sparked a fresh warning from the bank for home buyers to remain vigilant amid an increasing number of business email compromise scams during property transactions.

According to NAB, stamp duty payments were particularly high-risk, as they involved large, one-off transfers and tight settlement deadlines.

NAB’s group investigations executive, and former Australian Federal Police (AFP) member, Chris Sheehan, told customers to watch out for urgent payment requests or sudden changes to bank details, even if they appeared to come from trusted organisations.

“Most business email compromise scams succeed not because people are careless, but because the request looks routine and sounds reasonable,” he said.

“A moment of verification, a call, a message, a second check, can stop a significant financial loss,” Sheehan concluded.

The story followed data showing a concerning rise in real estate scams, as technologies like artificial intelligence (AI) lowered the barriers to entry for cyber criminals.

According to the Australian Competition and Consumer Commission (ACCC), the amount of money victims lost to property scams increased from $13 million in 2021 to $43.2 million in 2024.

Just goes to show that you need to confirm with anyone asking you to transfer any money over to them even if it looks real get the bank account confirmed over the phone to them. As these disgusting criminals are using AI these days as well it's very hard to tell what is real and what is not.  Just double check is my advice.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

IS YOUR NAME ACCURATE ON YOUR CERTIFICATE OF TITLE?

 

Did you know the importance of having an accurate name on the Certificate of Title?  Often overlooked, Titles need to reflect the correct ownership when looking to sell, retain, or transfer a property. The necessary measures must be taken to ensure you have the right to deal. Settlement Agents are no stranger to sale/purchase settlements, but did you know we also do updates to Titles when a significant change has happened?  Here are some common updates that your settlement agent can complete for you:  Change of Name due to Marriage/Resumption of Maiden Name When you have changed your last name due to marriage/resumption of maiden name, your Title needs to be updated to reflect your correct surname ensuring the Title Deed for your property is correct and accurate. A process that can be completed by a Settlement Agent either at settlement or by standalone application, using your original Marriage/Divorce Certificate is simple but necessary.  Change of Name due to Error In the rare occurrence that your name is misspelt, in the incorrect order or your Christian name has not been shown, we will be able to assist and to amend this for you using a Change of Name application and Statutory Declaration.  Survivorship Applications Where parties are ‘Joint Tenants’ on the Title, the surviving joint tenant(s) must apply to be registered as the surviving proprietor(s). In this case, the surviving tenant(s) will complete the process of Survivorship Application. A process that is usually completed by a Settlement Agent using the electronic settlement program, PEXA, with only the Death Certificate of the deceased party is a quick and simple process that ordinarily takes 7 days to complete. Transmission Applications Where parties on a Certificate of Title are ‘Tenants in Common’ or under ‘Sole Ownership’, the transfer is completed using a Transmission Application. This involves the ‘Executor or Administrator of the Estate’ obtaining Probate in order to be registered as the ‘Proprietor of the Estate’ on the Title. Similar to the Survivorship Application, settlement agents are able to complete this process quickly and efficiently once Probate has been granted. Transfer to Beneficiaries Once Titles have been updated to the ‘Executor or Administrator of the Estate’s’ details, the Executor or Administrator have the authority to transfer the property into the Beneficiaries of the Will. A process which involves assessment by State Revenue can be completed in office effectively. Try not to guess what needs to be done and get the help of a licensed Settlement Agent they are the best people to help and point you in the right direction. MAKE YOUR OWN DECISION AND GIVE IT A REAL GO!! SELLING MOSMAN PARK & THE WESTERN SUBURBS!! KEEPING IT REAL IS OUR MOTTO!!

BRIDGING FINANCE

 

Bridging Finance

Bridging finance is a simple short term loan that lets you buy your next property before your current one sells. It gives you the ability to act fast without waiting for settlement on your existing home.

It works by covering the gap between the purchase of your new property and the sale of your current one. Once your sale settles, the bridging amount is cleared and your standard loan continues. This structure removes pressure and stops you from feeling forced into accepting the wrong offer just to meet timing.

Bridging finance is useful in strong markets where quality homes move quickly. It gives you the freedom to secure the right property without hesitation. Speak with your broker or lender to confirm costs, time frames and suitability for your situation.

If you need to move forward with confidence, bridging finance is a straight forward solution that keeps your plans on track.

We have a fantastic broker called Brandon Ngadino 0412 270 243 brandon@checkmyrate.au he has done quite a few deals for our clients.

Again give us a call or an email if you need to ask a few questions.  Gill Vivian 0415 853 926 gill@viviansrealestate.com.au 

MAKE YOUR OWN DECISIONS & GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

WESTERN SUBURBS MARKET PULSE

 

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Western Suburbs Market Pulse

Week ending Sunday 8 March 2026

The quick read

Sales activity across Perth eased a touch week on week, but listing supply ticked higher while the rental pool also edged up. Western Suburbs and Mosman Park continued to show premium buyer depth with notable sales and selective auction action. [reiwa.com.au]

Sales snapshot

Perth recorded 827 transactions last week, down three point seven percent from the week prior. Within that total, house sales were lower, unit sales were a little softer, and land sales jumped strongly. This pattern reflects buyers being value focused while builders and owner occupiers keep land in play. [reiwa.com.au]

Recent settled sales around the Western Suburbs include premium results in Mosman Park and neighbouring blue chip pockets. For example, 1 Bryant Avenue Mosman Park settled at three million seven hundred twenty five thousand dollars on twenty seven February. 33 Swan Street Mosman Park settled at two million nine hundred ten thousand dollars on seventeen February. These validate ongoing strength at the top end of Mosman Park. [realestate.com.au]

Across the broader Mosman Park market over the past twelve months, the median house price sits around two million eight hundred thousand dollars with annual growth reported in the high twenties, and units around five hundred forty thousand dollars with annual growth in the low twenties. Days on market are reported in the forties for houses and mid forties for units, with rental yields near two point six percent for houses and four point three percent for units. [realestate.com.au], [property.com.au]

Listings and buyer activity

Perth listing stock rose to two thousand eight hundred sixty seven properties, up four point one percent on the week and up thirteen point five percent across the last four weeks, though still over forty percent below the same time a year ago. This keeps conditions supportive for sellers of well presented Western Suburbs homes. [reiwa.com.au]

On the ground in Mosman Park, there is a visible mix of prestige family homes, town homes and apartments on market, with fresh listings noted this week along Fairlight Street and Somerset Crescent, plus premium showcases such as the Mos Lane project display suite on Manning Street. [realestate.com.au]

Auction watch

Western Australia runs far fewer auctions than the east coast, but last week still featured a small cluster in the Western Suburbs. Scheduled auctions included 2 Johnson Parade Mosman Park and 34 Dalkeith Road, Nedlands, alongside a Claremont apartment at Freshwater Parade. Statewide, the week recorded a very small sample, with a clearance rate near the 50% mark in preliminary tallies. 

National auction services also reported a light Perth week of around a dozen results, consistent with seasonal factors after the long weekend.

Rental pulse

Rental listings in Perth edged up three percent to 1,936,000 six dwellings. Week on week leasing volumes were softer but are still higher than a year ago. Claremont appeared in last week’s top rental activity list, reflecting steady tenant demand across the inner west. 

• Premium family homes continue to trade well. Depth remains for move in ready properties close to the river and quality schools. 
• Units show healthy annual gains at accessible price points, drawing first home buyers and downsizers who want Western Suburbs amenity.  [property.com.au]
• Choice is improving but remains tight, which helps maintain competitive inspections for well priced listings. [reiwa.com.au]

WHAT THIS MEANS FOR SELLERS

Presentation and pricing discipline matter. With stock levels still well below last year, attractive Western Suburbs homes can secure strong competition, especially when launched with a clear campaign and early buyer engagement. [reiwa.com.au]

WHAT THIS MEANS FOR BUYERS

Increased listings create a little breathing room. Stay finance ready and watch for mid week releases in Mosman Park, Cottesloe, Claremont and Nedlands. Private treaty remains the dominant path, with occasional Saturday auctions for special homes

If you are thinking of selling please do give me a call 0415 853 926 or email me on gill@viviansrealestate.com.au we would love to talk to you.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!! 

KEEPING IT REAL IS OUR MOTTO!! 

ADVICE FOR SELLERS ON SELLING

When it comes time to place your property on the market, the experience can feel thrilling, overwhelming, and full of unknowns all at once. The good news is that with the right preparation and a little insider knowledge, you can transform the process from stressful to successful. Selling your property is not just about listing it online and waiting for a buyer. It is about creating a strong first impression, building emotion, and making sure your home stands out from every other option. Listen to your professional agent they will give you the best advice this is what we do for a living.

Create an Irresistible First Impression

Buyers decide within the first few moments whether they feel a connection with a home. The moment they step onto the front path, they are already forming opinions. Fresh gardens, a spotless entry, and a welcoming feel can draw people in and set the tone for the rest of the visit. Think of it like setting the stage for a wonderful performance.

Present Your Property at Its Best

Buyers respond to homes that feel bright, open, and well cared for. A few simple improvements can make a major difference. Declutter rooms to show space. Open curtains to bring in natural light. Add fresh touches such as cushions, indoor plants, or crisp linen. These elements help buyers imagine their future in your home, and that emotional connection is a powerful force in securing strong offers.

Price with Care

Setting the right price is one of the most important decisions you will make. A property priced attractively can bring in more buyers, more offers, and a faster result. A property priced too high can sit on the market and lose momentum. Work with an agent who understands your local area and who can guide you with clear data and genuine expertise. At this particular time, it's only a price guide as we feel we are currently getting way more than we have predicted so that is why we are using Openn Offers an online platform that has outperformed us every time.

Be Ready for Buyers

Once you are on the market, keep your home ready for viewings. You never know when the perfect buyer might want to come through. A clean, fresh environment helps you stay prepared and keeps the selling energy strong. The more welcoming your property feels, the more likely buyers are to fall in love with it. Remember we love our pets but pet beds can smell make sure they are outside or freshly washed. Room spray is always handy also.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!! 

PERTH MARKET SNAP SHOT

 1. Dwelling Prices Up 0.64% in Two Weeks

That’s a strong fortnightly increase. At this trajectory, a $1 million median for houses is only a short step away. In my humble opinion villas and townhouses are already up into the million dollars in the Western Suburbs unless unrenovated.

2. Median House Price at $977,000

This aligns with the ongoing strength we’re seeing in inner- and Western-suburb markets where demand is outstripping supply. The shortage is so severe that people are trying to take properties off the market prior to them going into their full campaigns (not advisable)

3. Year-to-Date Growth Already 3.8% (well above early 2026 forecasts)

A 3.8% gain in the first part of the year suggests momentum well above average—Perth normally sees 4–6% annual growth in “healthy” years. Perth has been down in the doldrums for such a long time; the last 18 months have been playing catch-up and now we have a severe shortage of properties, which will keep driving them upwards.

4. Trend Suggests 12% Growth by Mid‑Year

If price acceleration continues, a double‑digit half‑year gain is possible—something usually only seen in boom cycles. Perth will continue to perform, I believe, just on the current demand that we have been experiencing. 

5. Key Driver: Extremely Tight Supply

 Listing volumes remain low while buyer demand is strong. A high sales-to-listings ratio confirms buyers outnumber available homes. This statement is extremely true right now and we dont see it changing anytime soon.

As I have been saying to people stop sitting on the fence and buy something to get onto the property ladder, you will be priced out. Unfortunately for some people that have waited too long and although their properties have gone up unfortunately the areas that they have been looking in have gone up a lot quicker.  BUY NOW !!

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!! 

KEEPING IT REAL IS OUR MOTTO!!