AUSTRAC has begun enforcement action against real estate businesses that have failed to meet their AML/CTF obligations, with no grace period for non-compliance. AML Partners' John Nguyen explains why software alone won't protect agencies, the dangers of going it alone, and what businesses must do to avoid falling foul of the regulator.

On this episode of REB Discover, REB editor Liam Garman is joined by AML Partners founder John Nguyen to unpack AUSTRAC's compliance crackdown and why real estate businesses need a functioning AML/CTF program now, not just a policy on paper.

With roughly half of the expected 80,000 businesses yet to register, Nguyen reveals that AUSTRAC has begun issuing 11-page information requests, giving recipients just two weeks to respond.

The pair examine why agencies attempting to manage compliance in-house could be exposing themselves to significant risks, particularly when navigating complex company and trust structures.

Nguyen explains why purchasing AML software is not enough to satisfy regulatory obligations, and how outsourcing compliance to experienced specialists can reduce costs while providing the expertise needed to identify suspicious transactions.

Finally, they unpack what happens when clients refuse to provide identification, the obligations around suspicious matter reporting, and why businesses must maintain documented evidence of compliance ahead of mandatory independent audits every three years.

Sales are softening, and agencies across Australia are doubling down on their rent roll. REB has officially revealed its Stellar Agencies 2026, ranking the top 10 property management businesses by growth, not size.

On this episode of The Property Management Excellence (PMX) Podcast, host Alex Whitlock is joined by REB editor Liam Garman to reveal the Stellar Agencies 2026: REB's top 10 property management businesses with the greatest growth in properties under management.

With sales softening, more agencies are doubling down on property management and recent research has indicated that two-in-three agencies are focusing on property management for their next phase of growth. The Stellar Agencies show who is winning that race.

The hosts count down all 10, revealing each business's growth in properties under management, whether it grew organically or through acquisition, and which software it runs on. The mix shows there is no one-size-fits-all approach, and that fast growth can come from very different strategies.

Whitlock and Garman also explain why scaling too fast can sink the economics, why culture and client service matter more than software, and what to expect from the top 10 in the months ahead, with a representative from each business joining the podcast to unpack how they did it.

France is already paying billions to service its debt. Australia could be heading down the same path, with only a narrow window to turn things around.

On Property Buzz, Phil Tarrant and Liam Garman compare Australia's fiscal position with France's, examining rising debt costs, bond yields, tax settings, and public sector growth.

Garman warns Australia could be only a few years behind as government spending and debt servicing put increasing pressure on the economy.

The pair revisit France's failed wealth tax experiment and Greece's experience with spending cuts, before examining Australia's own warning signs, including weaker employment, falling stamp duty revenue, and fewer capital gains to tax.

They also compare personal, company, and capital gains tax settings, and debate whether further property tax changes could push investors out of the market.

Tarrant is sharply critical of the federal government and the ATO, predicting a royal commission and further political battles over property taxes before the next election.

The discussion also covers the impact of the SMSF residential property ban on development, rising construction costs, and the risks facing first home buyers caught in falling apartment markets.

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