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Brokerage Standards Manual

IV. Accounting and Financial Records/Systems

Financial Records

All brokerages, regardless of the real estate services they provide, must maintain financial records in compliance with section 8-1 of the Rules.

The financial records necessary to provide an accounting of all brokerage transactions must show and readily distinguish:

  • the amount of money held or received by the brokerage on its own behalf;
  • the amount of money paid by the brokerage on its own behalf;
  • the amount of money held or received on behalf of each other person including, if applicable, an indication of whether it was held or received on behalf of the person as a principal or as a licensee;
  • the amount of money paid to or on behalf of each other person including, if applicable, an indication of whether it was paid to the person as a principal or as a licensee;
  • the total amount of money held or received for or on behalf of other persons; and
  • the total amount of money paid to or on behalf of other persons.