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Brokerage Standards Manual

Notice of Change: Information in this manual changed when new agency and disclosure rules came into effect on June 15, 2018. Learn more about the new rules.Notice of Change: Information in this manual changed when new agency and disclosure rules came into effect on June 15, 2018. Learn more about the new rules.

Accounting and Financial Records/Systems

6. General Recordkeeping Requirements

(a) General Record Requirements

In addition to the financial records, a brokerage is required by section 8-4 of the Rules to keep other records relating to the provision of real estate services. All brokerages must maintain the following records as applicable to the real estate services that the brokerage provides, including:

  • copies of all written disclosures under Division 2 of Part 5 of the Rules;
  • copies of written service agreements and any other records that establish the scope of authority of the brokerage respecting the provision of real estate services to a client”;
  • a copy of all annual financial reports;
  • a list, maintained separately for each fiscal year of the brokerage, of
  • all trades in real estate in which the brokerage is or was involved during that year;
  • all rental properties that are or were managed by the brokerage during that year; and
  • all strata corporations that are or were managed by the brokerage during that year.

*NOTE—this would include disclosures under section 5-17 of the Rules.

Additional records, as described below, are required by the Rules to be maintained, depending on the type of real estate services that the brokerage provides.

 

[updated 06/15/2018]