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Session length

1 / 1055

In the event a transaction does not close, a broker must retain the records for how long?

One year from listing

Two years from listing

Three years from listing

Brokers must retain records for a period of three years from the date of the listing. Options A and B are incorrect because they are shorter periods of time. Option D is incorrect because it is a longer period of time. Keeping records for longer than necessary can take up valuable storage space and create unnecessary clutter. Overall, three years is the industry standard for record retention in the event of a transaction not closing.

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Five years from listing

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