Compliance
The records an audit asks for, kept as you work
prospect8 keeps the compliance records Australian sales agencies need, from the records you already make in it. You don’t fill in a second system.
Everything we keep for you
AI can read a contract and propose what it found. A person confirms every check, and only people sign.
NSW sales
Sales compliance file
- A file for every sale campaign, stage by stage, each check naming the provision it comes from.
- Ticks what prospect8 can prove from its own records: the signed agency agreement, bidders, exchange, the contract served.
- Records the estimated selling price, the reasoning and comparables behind it, and every revision.
- The agent signs, then the licensee in charge signs off, in the app or by an emailed link. The signed record is kept as a PDF.
NSW, and every state
Agency registers
- Licences, insurance, CPD, training, gifts and benefits, complaints, breaches, supervision procedures and trust audits.
- Reminders before licences, insurance and CPD run out.
- A supervision overview and a weekly summary for the licensee in charge.
- Every register exported as one PDF.
NSW · VIC
Underquoting and price rules
- An NSW advertised price can’t be below the estimated selling price, and the licensee in charge approves it before it goes live.
- A VIC residential sale can’t be published without a Property Price Statement.
- An offer above the estimate prompts you to revise it.
- VIC starting offers, reserves and vendor bids follow the rules where the property is.
Every state
AML/CTF
- Customer due diligence on every party that needs it, beneficial owners and trustees included.
- Risk ratings, enhanced due diligence, and steps blocked or confirmed until the checks are done, set per office.
- Suspicious matter reports drafted with their deadlines. Nothing on a case notifies anyone, so no one is tipped off.
- AML records kept for seven years, never changed.
Every state
Privacy
- Access and correction requests, and erasure that respects records the law says to keep.
- A data breach register.
- An activity log sealed every hour in write-once storage, so a change to it shows.
- Dates of birth and auction reserves masked. Revealing one takes a second factor and a reason, and is logged.
Every state
Spam Act and Do Not Call
- Consent and opt-outs kept per channel (phone, SMS, email and mail), with where and when they were given.
- A working unsubscribe in every commercial message, taking effect straight away.
- No telemarketing call or SMS without a current Do Not Call Register wash.
- An enquiry isn’t counted as consent to marketing.
Every state
Trust accounting
- Deposits and vendor advertising money held in trust, a ledger for each sale.
- Receipts, payments, bank files, reconciliation and statutory reports, with read-only access for your auditor.
- Only a person can receipt trust money. AI can’t.
- Or connect the trust package you already use.
Every plan
Data leaving the agency
- Every export, print, phone sync and feed is gated, recorded and reported to the principal.
- Alerts when someone looks like they’re taking the database.
- Tighter access for new starters and staff on notice.
- Two-factor sign-in, login hours, and a fresh check before sensitive actions.
Diligence support, not legal advice
prospect8 keeps the records, runs the checks and reminds you of deadlines. The licensee in charge decides and stays accountable.
See it in a demoCompliance questions
Is prospect8 legal advice?
No. prospect8 is diligence support: it keeps the records, runs the checks and reminds you of deadlines. It isn’t legal advice or a compliance officer. The licensee in charge decides and stays accountable.
Which states does the compliance file cover?
NSW sales first, then VIC. The rules every state shares, such as AML/CTF, privacy and the Spam Act, apply wherever your agency is, and VIC’s price rules are already built in.
Who decides what the checks are?
Each state’s checks are a versioned ruleset, and a property lawyer reviews each version before it’s published. Every check names the provision it comes from.
Does it cover rentals and property management?
No. The compliance file is for sales. Rentals and property management aren’t covered.
Does prospect8 lodge reports with AUSTRAC?
No. prospect8 drafts suspicious matter reports, tracks their deadlines and keeps the records for seven years. Your compliance officer lodges them with AUSTRAC.
Can my AI assistant sign off a compliance file?
No. AI can read a contract and propose what it found, but a person confirms every check, and only people sign. The agent signs the file, then the licensee in charge signs it off.
How long are records kept?
AML/CTF records and the change history are kept for seven years. The activity log is sealed every hour in write-once storage, so any change to it shows when the log is checked.