When should documentation of transaction files be stored by an ADRE brokerage?

The correct timing for documenting transaction files by an ADRE brokerage is immediately upon completion. This practice is essential for several reasons. First, storing documentation as soon as a transaction is concluded ensures that all relevant details, agreements, and disclosures are accurately captured and preserved without delay. This immediacy reduces the chances of losing important information over time or when moving from one phase of a transaction to another.

Additionally, immediate documentation helps maintain compliance with Arizona real estate regulations, which typically require brokerages to retain records for a specified duration after a transaction has closed. By prioritizing timely documentation, brokerages not only adhere to legal obligations but also enhance their operational efficiency and accountability.

Other proposed timeframes, like quarterly, daily, or weekly documentation, do not support the urgency and accuracy required for effective transaction record-keeping in the real estate industry. Delayed record-keeping can lead to potential miscommunication, errors, or even legal issues down the line if information is not properly archived in a timely manner. Hence, documenting transaction files immediately upon completion is the best practice for maintaining comprehensive and reliable records.