Pennsylvania License Law
Under RELRA, how long must a Pennsylvania real estate broker retain transaction records?
A1 year from closing
B3 years from the date of the transaction or the date of the listing agreement, whichever is later✓ Correct
C7 years to comply with federal tax requirements
DPermanently, as there is no destruction date for real estate records
Explanation
Pennsylvania RELRA (49 Pa. Code §35.286) requires brokers to retain all records relating to real estate transactions for a minimum of 3 years. This includes: listing agreements, buyer agency agreements, offers, counteroffers, agreements of sale, settlement statements, escrow records, and correspondence. PREC may audit records during this period. Digital retention is permitted if records are readily accessible for inspection.
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