Since 2014, California real estate agents and brokers have not been obligated to retain communications ‘of an ephemeral nature.’ However, record-keeping obligations are still in effect; realtors must keep communications with clients, including emails, for the three years mandated by California Business & Professions Code Sec. 10148; in addition, real estate brokers must keep ‘copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for which a real estate broker license is required.’
Retaining these records is often essential to managing real estate disputes effectively; when you have the documents to prove you acted with probity and scruple, you’re likely to emerge from such disputes unscathed. But it’s also a requirement for licensed realtors.
Mary E. Work has extensive experience helping realtors establish which documents to retain and how to build processes that help your business do this in a compliant and effective manner.