- 84% of estate agents now charging or planning to charge for ID checks amid rising compliance costs
New research from identity verification leader Credas Technologies has revealed a shift in how property professionals handle compliance costs, with a growing number of firms actively reviewing their fee structures for ID and anti-money laundering (AML) checks in response to mounting compliance costs.
The survey of 250 UK-based estate agents and property professionals found that 63% already charge clients for ID checks. With most firms onboarding multiple parties per transaction, these costs can add up quickly — making cost recovery a growing consideration in the onboarding process.
The findings underscore the increasing financial burden of compliance, with 84% of estate agents either already charging for ID verification or planning to do so within the next 12 months. The average small independent estate agency now spends around £16,000 a year on compliance-related activities — prompting a shift toward more efficient, cost-recovery-focused tools.
While 79% of firms now use digital ID verification services, the survey found 64% are still relying on manual document checks in some capacity – adding inefficiency and risk. The most in-demand improvements for ID verification include instant results (68%), lower costs (48%), better customer experience (56%), and built-in payments (48%).
Tim Barnett, CEO of Credas, commented: “The cost of compliance is no longer something firms can absorb without consequence. Property professionals are telling us they need faster, smarter ways to recover these costs – and that’s exactly what we’ve built with Credas Payments.”
The launch of Credas Payments responds directly to these pressures, enabling firms to embed payment collection into the ID verification process. Clients pay securely at the point of verification, removing the need for separate invoicing, reconciliation, or payment chasing.
“Firms want to remain compliant, but they also need to protect their bottom line,” Barnett added. “Credas Payments allows them to do both – turning compliance into a revenue opportunity without extra admin or risk.”
To find out more about Credas Payments, visit: www.credas.com/payments
