Someone asked me a question the other day about maintaining their files. Specifically they asked: “If I sign a listing over to another Broker, do I need to keep the file?” Yes, you need to retain a copy, that should be dated when you got the listing and the date when you signed it over to another Broker. Why, it’s not your responsibility any more?
What if the Seller has a problem with the way the listing was handled and files a complaint? The other Broker says it’s your fault and happened before he got the listing. You threw away your copy – No Proof. You could have a problem. But since you kept a copy and had it dated as to when you signed the listing over to the new Broker and the complaint happened after the date you signed the listing over: No problem!
That’s why you keep paperwork, to protect yourself. It could mean the difference between your license, a fine, a suspension or even revocation. So protect yourself or as I like to say: CYA….CYA? Cover Your Assets!
Until Next Monday…