1,196,588
Consider it your evidence of the transactions validity
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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Maria Sapio
Carlisle, PA
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Doug Dawes
Topsfield, MA
2,390,155
When is record keeping not important? Much of the paperwork is State mandated and much is just good sales practice Matthew Kraai .
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Krista Jenkins, REALTOR®
Lubbock, TX
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Ron and Alexandra Seigel
Carpinteria, CA
7,835,329
You need a database for reference if your wish to have continued success.
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Gene Mundt, IL/WI Mort...
New Lenox, IL
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Bob "RealMan" Timm
Minot, ND
564,494
Keeping a clean file that has thorough documentation of each step in the transaction is not only a good business practice, it is a necessity!
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
1,390,113
Record keeping keeps you out of jail. You'll need it for audits and for taxes.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
2,781,123
if anything you did or do is contested in this litigious world we live in
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
5,772,575
Whether you sell real estate or soap, records must be kept. And those records can be audited by the state, and can be subpoenaed in a court case. A
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
2,061,615
This is one of the odder questions that Agent Professor charges you with asking. It's right up there with the "Why is following the law important?".
Keeping records is important so that you have a paper trail, a history of what you've done. That might be important just to keep track of which properties you've shown a buyer, or maybe the IRS will want to look at your records, or worst case scenario you may need to show them to the department of justice.
Keeping accurate and organized records can be crucial.
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Bob "RealMan" Timm
Minot, ND
52,597
We are required by law to keep records. In Texas we must keep all applications, agreements, communications, contracts, disclosures, statements, and work files for a minimum of four years from the date of closing or termination of the contract. Also, when you reach middle age, your brain turns to pudding and sometimes you forget who you are calling and why you are calling them as you are calling them so it is helpful to have notes in front of you that you can add to your database or work file. you will speak to A LOT of people in your real estate career.
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Bob "RealMan" Timm
Minot, ND
1,712,676
You have to know where you have been to know where you are going.
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Bob "RealMan" Timm
Minot, ND
3,344,906
In real estate, we are required to retain records. You better have them if you need proof/evidence.
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Bob "RealMan" Timm
Minot, ND
629,608
1,844,271
Well, going thru an audit really hits home about how important it is. (taxes)
Proves your case when you have disagreement about a contract, commission, etc.
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Bob "RealMan" Timm
Minot, ND
3,416,038
The easy answer is that it is the law. You have the state mandated things, the federal mandated things, and the things if you want to stay in business you keep track of.
5,583,278
you'll know that answer soon enough, after you get a written notice that the IRS is auditing you for the past 3 years.... you'll wish you had every receipt and record of every step you took....