Idaho License Law
What is the 'Idaho Real Estate Practices Act' requirement for maintaining transaction files?
AFiles must be maintained for 1 year
BTransaction files must be maintained for at least 5 years and be available for IREC inspection✓ Correct
COnly closed transaction files must be kept
DFiles may be stored in any format IREC requires
Explanation
Idaho requires real estate brokers to maintain transaction files for a minimum of 5 years. These files must be organized and available for IREC inspection. Digital or paper files are acceptable as long as they are complete and retrievable.
Related Idaho Idaho License Law Questions
- What is the consequence of an Idaho salesperson practicing real estate while their license is suspended?
- The Idaho Real Estate Commission's authority to discipline licensees includes all of the following EXCEPT:
- What is a 'pocket listing' and what are Idaho's rules regarding disclosure?
- Which of the following actions by an Idaho licensee would constitute misrepresentation?
- Under Idaho law, a licensed real estate salesperson may negotiate directly with a buyer for-sale-by-owner (FSBO) without disclosing their license status:
- Which agency is responsible for licensing and regulating real estate professionals in Idaho?
- An Idaho salesperson who wants to advertise their services must:
- Under Idaho license law, what must a licensee do if they become aware that a property they listed has a material defect not previously disclosed?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →