5,060,544
Well it's required and I don't have to worry should there be a dispute (none so far). And it should keep me out of trouble with the IRS.
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Allie Angeloni
Oro Valley, AZ
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
3,988,013
I keep good records to keep the tax man away. I can usually put my hands on or find the documant I need in a couple of minutes.
It save time and keeps me out of court.
-
Allie Angeloni
Oro Valley, AZ
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
-
Kyle Beers
Spanish Fork, UT
2,684,569
1. Record keeping is required by law, by the Real Estate Commission, by IRS, etc.
2. When you are in a civil suit, or defending yourself in front of the Real Estate Commission, any lawyer will tell you that if it isn't writing, it never happened... it's just hearsay.
-
Allie Angeloni
Oro Valley, AZ
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
-
Kyle Beers
Spanish Fork, UT
1,027,602
Keeping records of past transactions where I represented the buyer definitely helped me remember all details of the home inspection, etc. when those buyers became sellers.
In theory, keeping records may protect me at some point in the future; so far, I haven't needed protection, but they are there if I need them.
-
Candice A. Donofrio
Fort Mohave, AZ
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
4,478,649
Kyle everything I say I am willing to put in writing and the best part is it has kept me out of standing in front of a Judge and I did not have to say "well you honor the reason I said this was..."
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
5,254,045
I haven't had to use (saved records) but, we are required to save them both personally (IRS) and professionally (REC) and you bet, I DO!
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Allie Angeloni
Oro Valley, AZ
-
Michael Jacobs
Pasadena, CA
-
Bob Crane
Stevens Point, WI
6,418,126
It is essential.
-
Allie Angeloni
Oro Valley, AZ
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
290,969
I think real estate is similar to other jobs where you work with clients Kyle Beers. Records are kept to document the different phases of 'what is happening' with clients, and having a paper trail that can be reviewed is always safe to have, for others as well as yourself. One cannot always trust their memory, and you don't want to be in a situation of 'he said she said', because it's only someone's opinion and not in black and white. I document everything, usually in an e-mail, though Texts could be printed if needed. So, after having that phone conversation, I follow-up with the same words in writing! I believe It helps and protects you!
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kyle Beers
Spanish Fork, UT
4,582,309
Documentation is your friend.
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
2,784,566
In courts of law, records speak louder than words at times
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
1,712,776
It keeps you out of potential trouble.
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
3,349,404
I wish you all the best with your studies.
-
Debe Maxwell, CRS
Charlotte, NC
-
Kyle Beers
Spanish Fork, UT
2,221,377
It is required, contact your local real estate commission for more information in your area.
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,553,347
Records refute "he said, she said".
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
5,583,328
with transactions, it's saved many conflicts!!!
with the IRS, it's a necessity if and when I ever get an audit...
-
Debe Maxwell, CRS
Charlotte, NC
-
Kyle Beers
Spanish Fork, UT
7,863,492
If you need to provide documentation, records are mandatory.
-
Debe Maxwell, CRS
Charlotte, NC
-
Allie Angeloni
Oro Valley, AZ
599,734
When I needed to provide evidence for a trial, my documentation saved me.
-
Debe Maxwell, CRS
Charlotte, NC
-
Allie Angeloni
Oro Valley, AZ
1,466,257
Kyle Beers Keeping records is like keeping an audit trail on everything you do in this business. I used to tell my students the reason the inside of a manila folder is blank so there is a place where you can keep a journal of all activities related to the transaction. In the event there is an investigation, you will have everything at your fingertips.
-
Candice A. Donofrio
Fort Mohave, AZ
-
Allie Angeloni
Oro Valley, AZ
3,416,038
First off it is the law but second off, after taxes, a great source to build a data base
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
4,900,966
Will help you with your transactions and the IRS.
-
Allie Angeloni
Oro Valley, AZ
-
Debe Maxwell, CRS
Charlotte, NC
3,071,489
Being able to document my recollections!
-
Allie Angeloni
Oro Valley, AZ
-
Michael Jacobs
Pasadena, CA
2,187,593
1,506,013
Nice! a new question!
Records have been helpful several times. I've used email records to put down arguments of abusive agents.
-
Debe Maxwell, CRS
Charlotte, NC
1,056,272
The guy with the longest paper trail wins in court.
The guy with the most organized records stays out of court.
The guy with the most complete records has smoother transactions.
Be that guy. ;)
-
Candice A. Donofrio
Fort Mohave, AZ
5,772,587
Kyle,
We kept all records of transaction in a neat orderly manner. A
-
Debe Maxwell, CRS
Charlotte, NC
4,800,132
5,112,471
Because I keep records I've been protected. Besides, certain records retention is the law.
-
Allie Angeloni
Oro Valley, AZ
4,434,177
4,319,773
1,624,853
Well, you have to. You have to records pretty much everything, your transactions, your relationships with clients, your expenses, your daily activities.
5,877,335
5,027,088
It is required and I keep records religiously! Keeps me out of any issues and with the IRS.
1,728,156
577,750
Keeping detailed records in this business is very important. It has helped me twice over my 30 + years as an agent. Once when a Buyer threatened to sue me, and because of my detailed records proved her wrong... the other time a client wanted to report me to RECO, and once again, becasue of my detailed notes... it never went any further... In both instances I was wrongly accused... and save by my noates.
679,404
I had a situation where I had to appear in court as a witness for a lawsuite that was between a buyer and seller. The Judge was very complimentary and said to everyone that because of my accurate and amazing records it was an easy case to solve. Can't say it helped me "other than the compliments" -- however, it protected my seller! Which in the long run ... helped my business!
3,986,308
1,241,754