After successfully completing this topic, you will be able to
• describe the situations that require a broker to retain the brokerage relationship disclosures, and
• describe the length of time the broker must maintain the brokerage relationship disclosures.
Disclosure documents required under the Brokerage Relationship Disclosure Act shall be retained by the real estate licensee for five years in all transactions that result in a written contract to purchase and sell real property. The retention of the documents applies even if the transaction fails to close.