An estate agent is subject to the Wwft when they professionally act as an intermediary in agreements concerning real estate, such as the purchase and sale of homes, commercial property and land. For letting, the law only applies at a monthly rent of € 10,000 or more. You must then know who you are doing business with, report unusual transactions to FIU-Nederland and keep your files.
Real estate is attractive to money launderers. Large amounts are involved, the value is hard to check and a property can simply be let or resold after purchase. The estate agent sits early in that chain and is often the first to notice that something is not right.
When does the Wwft apply to you?
Article 1a of the Wwft lists intermediaries in agreements concerning real estate and the rights attached to it. These include:
- selling and buying agents for residential and commercial property
- intermediaries in the sale of land or apartment rights
- letting agents, if the monthly rent is € 10,000 or more
Valuers of real estate also fall under the Wwft, in a separate category. If your agency does both brokerage and valuations, the obligations apply to both activities. If you are unsure about other services, see Wwft check: are you Wwft-obliged?
Customer due diligence: including the other party
Before you carry out an assignment, you perform customer due diligence. You establish and verify the client's identity. If the client is a legal entity, you also identify the UBO. You understand the purpose of the transaction and check whether anyone involved is a PEP.
A special rule applies to estate agents. The Wwft states that the term client also includes the other party to an agreement concluded through your brokerage. If you act for the seller, you therefore also identify the buyer. If you act for the buyer, you also identify the seller.
Where the risk is low, you may carry out simplified due diligence. Where it is high, you carry out enhanced due diligence, for example for a PEP or a party from a high-risk country. If you cannot complete the due diligence, you do not carry out the assignment.
Red flags in real estate
A red flag is not proof. It is a reason to ask further questions and record your findings. Typical red flags for estate agents are:
- The price does not add up. The purchase price is far above or below market value without a good explanation.
- Quick resale. A property is sold several times within a short period, each time at a significantly higher price (an ABC transaction).
- Unclear buyer. The buyer is a newly formed legal entity, a foreign structure or a front man, and it is not clear who is behind it.
- Unexplained financing. The money comes from an unknown source, a private loan or abroad, or the buyer pays without a mortgage although that does not fit their profile.
- Payment by third parties. The deposit or purchase price comes from someone other than the buyer.
- Little interest in the property. The buyer does not ask about its condition or price and mainly wants to close quickly.
- Changes shortly before completion. The buyer or the financing changes just before the transfer.
- Cash. The client wants to pay part of the price or the commission in cash.
Reporting to FIU-Nederland
If you see an unusual transaction, you report it to FIU-Nederland without delay. This also applies to an intended transaction that does not go ahead. How to file a report is explained in Reporting an unusual transaction.
The list of indicators in the Wwft Implementing Decree 2018 has two types of indicators for estate agents:
- Subjective: a transaction where you have reason to assume that it may be connected with money laundering or terrorist financing.
- Objective: a transaction of € 10,000 or more paid to or through your agency in cash, with bearer cheques, a prepaid card or similar means of payment.
A transaction you report to the police or the Public Prosecution Service in connection with money laundering should also be reported to FIU-Nederland. After reporting, you may not tell the client or the other party that you have reported. Read more about what counts as unusual in What is an unusual transaction?
Who supervises?
The Wwft assigns supervision of estate agents to the Minister of Finance. Since 1 January 2026 the Financial and Economic Integrity Service (Dienst Financieel-Economische Integriteit, DFEI) has carried out that supervision. DFEI is an independent supervisor within the ministry and took over the tasks of the Belastingdienst/Bureau Toezicht Wwft.
The supervisor can request your files, visit your office and, in the event of breaches, impose a fine or an order subject to a penalty. Read more in Wwft fines.
Record keeping
You keep the customer due diligence data for five years after the end of the business relationship or after the transaction. You keep a report and the related documents for five years after the report. More in Wwft record-keeping obligation.
Practical tips for estate agencies
- Record a risk assessment. Describe the risks your agency faces, for example because of the type of property, the region and where buyers come from.
- Make due diligence part of the intake. Request identity and UBO details before you confirm the assignment, and do the same for the other party as soon as they are known.
- Ask about the financing. A short question about the source of the money prevents surprises just before completion.
- Do not rely solely on the notary. The notary carries out separate due diligence, but your obligation remains.
- Train your staff. Everyone who works with clients must recognise the red flags and know who files the report.
From 10 July 2027 the European AMLR applies. Estate agents will remain subject to due diligence and reporting obligations, now set out in a single European regulation. See AMLR 2027.