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This guide is general information, not legal advice. Please talk to a privacy lawyer familiar with the real-estate sector.

Why Data-Retention Rules Matter to Your Business
Chat logs and AI-generated transcripts often include people’s names, phone numbers, price discussions and even bank details. Losing control of that information can lead to fines, loss of trust and, from June 2025, lawsuits for “serious invasions of privacy” under new federal reforms.(AGS)
Key Laws You Must Follow
Privacy Act 1988 (Cth) + 2024/25 reforms
Mandatory “reasonable steps” to protect, retain only as long as needed, then destroy.
Bigger penalties and a direct right for individuals to sue, plus new criminal offences for doxxing.(Federal Register of Legislation, AGS)
State real-estate legislation
NSW: keep transaction records—including digital chats—for 3 years.(REINSW)
Victoria: many agency and trust-account documents must be kept 7 years.(Consumer Affairs Victoria)
Anti-Money Laundering / Counter-Terrorism Financing Act
Customer-due-diligence and instruction records (including chat transcripts) must stay on file 7 years.(First AML)
Tax rules
Business records tied to an assessment generally need at least 5 years.(Australian Taxation Office)
Always meet the longest period that applies.
Ethical Principles to Guide Your Policy
Transparency – Tell clients their chats are recorded and why.
Consent & Choice – Offer opt-outs for marketing uses.
Purpose Limitation – Use transcript data only for the deal at hand.
Data Minimisation – Keep the smallest workable set of personal data.
Security & Confidential Disposal – Encrypt in storage and erase securely when the clock runs out.
Setting Practical Retention Periods
Record Type | Typical Minimum | Why? |
---|---|---|
Internal team chats with no client data | 12 months | Operational reference only |
Buyer or tenant enquiry transcripts | 3 years (NSW) / 7 years (most other states) | Statutory real-estate records |
AML/CTF identity-verification chats | 7 years | Federal AML law |
Trust-account instructions | 7 years | State trust rules + AML |
Complaints, disputes, legal matters | Matter closed + 7 years | Limitation periods |
Tip: keep one master schedule that cites the source law for each category.
Seven Steps to a Compliant Policy
Map your data flow – Where do chat logs live? CRM, Teams, AI transcription tool, backups?
Classify risk levels – e.g. “Routine”, “Client personal”, “Financial”.
Apply the longest statutory period to each class.
Automate deletion or anonymisation after expiry (many SaaS tools let you set this).
Encrypt at rest and in transit; restrict access on a “need-to-know” basis.
Document everything – policy, procedures, retention schedule.
Review yearly or whenever privacy laws change
Working With AI & Cloud Vendors
Choose providers that let you export and delete chat data on demand.
Ensure contracts state who owns the transcripts, where they’re stored, and how long the vendor may hold backups.
Require ISO 27001-level security and Australian data centres, or confirm overseas hosting complies with APP 8 (overseas disclosure).
Risks of Poor Retention
Penalties up to tens of millions of dollars under the amended Privacy Act.(AGS)
Compensation claims from clients after a breach.
Inability to defend yourself in a dispute because logs were deleted too soon.
Reputational damage that erodes referral business.
Quick Checklist for Real-Estate Offices
☐ Written policy names each record type and retention period.
☐ Staff know how to label chats that hold personal data.
☐ Secure cloud storage with multifactor authentication.
☐ Automatic purge or anonymisation after expiry.
☐ Annual privacy and cyber-security training for all team members.
☐ Incident-response plan includes notifying clients and OAIC within 72 hours of a serious breach.
A clear, lawful data-retention policy protects your clients, your reputation, and your bottom line. Start by auditing where chat and transcript data flows today, match each category to the longest legal requirement, build in automatic deletion, and keep reviewing as the law evolves. For tailored advice, speak with a privacy lawyer.
Author – Ken Hobson.
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- Lorem ipsum
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- consectetur adipiscing elit. Ut
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- nec ullamcorper mattis,
- pulvinar dapibus leo.
- Lorem ipsum
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- consectetur adipiscing elit. Ut
- elit tellus, luctus
- nec ullamcorper mattis,
- pulvinar dapibus leo.
- Lorem ipsum
- dolor sit amet,
- consectetur adipiscing elit. Ut
- elit tellus, luctus
- nec ullamcorper mattis,
- pulvinar dapibus leo.
- Lorem ipsum
- dolor sit amet,
- consectetur adipiscing elit. Ut
- elit tellus, luctus
- nec ullamcorper mattis,
- pulvinar dapibus leo.
- Lorem ipsum
- dolor sit amet,
- consectetur adipiscing elit. Ut
- elit tellus, luctus
- nec ullamcorper mattis,
- pulvinar dapibus leo.