Identity verification firm Credas claims agents are now reviewing fee structures for ID and anti-money laundering (AML) checks in order to keep track of rising compliance costs.

Its survey of 250 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 agents either already charging for ID verification or planning to do so within the next 12 months. The average small independent 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, chief executive of Credas, comments: “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 … Firms want to remain compliant, but they also need to protect their bottom line.”