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Rainmaker
3,626,530
James Dray
Fathom Realty - Bentonville, AR

To cover your butt should you get sued.  If it's not in writing it didn't happen.  If it's not in writing it doesn't exist.  

Aug 25, 2015 08:31 PM
Rainmaker
1,661,836
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

James Dray nailed this one.  

My tax gal loves me I keep up with everything for Uncle Sam.

Aug 26, 2015 12:11 AM
Rainmaker
5,104,806
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Legal liability is one very good reason!

Aug 25, 2015 09:19 PM
Rainmaker
2,220,323
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Best of luck with your studies

Dec 11, 2019 05:11 PM
Rainmaker
784,786
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Thats a big question.

Nov 30, 2018 03:21 AM
Ambassador
6,392,879
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Law suits, taxes

Jun 07, 2018 09:54 PM
Rainmaker
4,571,456
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

It improves time management - when you need to find something, you are not on a treasure hunt.

Reduces your exposure to legal liability.

Organization can be fun!  Really.

 

Aug 25, 2015 11:41 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

Depending on the type of records, it may be a legal requirement.

Aug 25, 2015 10:15 PM
Rainmaker
2,759,812
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Wednesday morning Spencer. Good records create a paper trail and paper trails are good to cover your assets in the event of litigation.

Aug 25, 2015 06:44 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Spencer. I'm assuming one wants to know where they are financially, it would be important. If you don't keep good records and are involved in litigation, you better have good records.

Aug 25, 2015 06:06 PM
Rainmaker
1,683,912
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Why keep records if they are not right?

Aug 26, 2015 12:57 PM
Rainmaker
2,486,205
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Really??

Aug 26, 2015 09:23 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

There are two good reasons for good records

#1. To save you money

#2. To stay out of jail.

Staying out of jail will save you money.

There is only one good reason to keep good records.....

Aug 26, 2015 12:01 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Spencer Coleman One reason is in the event a buyer or seller has a grievence against you and submits a formal complaint to the real estate commission. You will need not only the records, but factual data to support your rebuttal. Everything from signed paperwork to telephone calls with dates and times. Even if you are innocent with no back up data, you will probably lose.

Aug 25, 2015 11:14 PM
Ambassador
3,164,119
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

you knew know when you might find yourself in court.  Good notes are key.

Aug 25, 2015 10:45 PM
Rainmaker
4,881,462
Richard Weeks
Dallas, TX
REALTOR®, Broker

Your state law probably dictates what must be kept and for how long.  In addition you need a good paper trail (email, text, phone conversations) in case you ever get involved in a legal situation.

Aug 25, 2015 10:17 PM