1,052,211
That's basically what they would want to see, but our DRE doesn't really work exactly like that unless there's been a complaint.
If you're getting an audit, chances are you'll get a letter first, stating that an auditor would be visiting you on X date, usually with a 30 day notice so you would have plenty of time to make sure that if you weren't already in compliance that you were then.
Even if there's a complaint, and determined valid, you'd still get a heads up.
I don't know of anybody who's been randomly surprise-visited. There has to be a reason, and you know it's coming.
Unless you're dumb.
Which is probably why you got the complaint in the first place. LOL.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Lyn Sims
Schaumburg, IL
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
644,025
yes, random Broker audits are common. thankfully the office admin handles them and I believe they cover everything included on your list with emphasis on Agency Disclosure and escrow account. I know they were not in the office long and we passed.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Greg Large
Grove City, OH
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
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Michael Jacobs
Pasadena, CA
5,772,575
Fred,
It did not happen to us. We kept meticulous records with all the documents and copies of each transaction above and beyond what was needed. One should always be prepared A
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
3,345,091
I plead the fifth ... or at a minimum a shot of tequila.
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Richard Bazinet /MBA, ...
Scottsdale, AZ
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
5,583,278
no, never....neither I nor any office I've been affiliated with....
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
1,844,271
Why would you have to keep forms that are totally online now? That seems archaic.
Office handles that.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,311,397
Have not had that experience.
Have had an IRS tax audit, though. That was sure fun (NOT!).
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
519,324
Our office was recently chosen for a random audit and one of my files was flagged due to a late turn in of earnest money. Fortunately, I was the listing agent on the transaction and the file had been noted. I understand the buyers agent may be contacted over this however.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
809,258
Idaho Real Estate Commission audits brokerages every 2 years (though with so many popping up I'm in my 3rd year waiting for the call). They make an appointment, maybe a week in advance, so it's not just a random knock on the door. They look at our trust account bank ledger, trust account bank statements, buyer agreements, purchase and sale agreements, and ledger cards we make for tracking earnest money. -Kasey
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
4,572,117
I haven't but I wouldn't be surprised if my brokerage hadn't been through one since it is so large. Proper tecord-keeping is certainly important and it is enforced at all levels that i see.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
2,781,163
Cobwebs....
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
92,082
NO... as far as I am aware...
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
472,114
We own a mortgage brokerage. We were audited by the State Banking Commission 3 years ago. They asked us to pick out 10 files for the inspector to look through. Now we're preparing for another one. We emailed a list of file names, type of loans, etc. They chose 25 for us to pull and have ready for them to review.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
7,836,129
No.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
2,220,323
I have not Fred
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Fred Griffin Florida R...
Tallahassee, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
427,257
I am not privy to those dealings. I have not had an audit personally.
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
4,319,419
Fred Griffin - I had an audit from IRS few years back who wanted to confirm my expenses shown in the return! (It helped me as I had missed few deductions that I could use it for subsequent years.)
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
3,988,007
Years ago the auditor came to my office and wanted to check 5 files. He was looking for earnest money deposited on time and disbursed correctly.
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,543,634
Call will banker got audited once or twice while I work there but we were not privy to the wants or reasons why 🤫
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
5,229,945
I have not personally but, I do know some in our area that SHOULD be audited!!
They can audit me away - I keep meticulous records and do not fear the REC!
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
5,868,482
I was told back in 2009 most likely would be audited to be sure I was doing the right stuff, but (knock on wood) have never been audited.
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Fred Griffin Florida R...
Tallahassee, FL
1,502,998
I don't think CA does this. I doubt they have the staff. Besides, would be hard for them to show up to my office... it's a PO box!
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Fred Griffin Florida R...
Tallahassee, FL
4,434,127
711,852
The agency checks for client trust accounts (which we do not use) and continuing education records (which we do). Each agent is required to keep their own education records for 3 years. I have my personal ones going back far longer than that.
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Fred Griffin Florida R...
Tallahassee, FL
5,216,398
Yes was audited in Florida. They inspected two files randomly selected. We passed with flying colors.
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Fred Griffin Florida R...
Tallahassee, FL
4,800,082
I am not a broker, so I don't have to worry about this.
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Fred Griffin Florida R...
Tallahassee, FL
3,071,489
577,750
I personally have never been audited, but there a random Brokerage checks from time to time, and the brokerage has been audited by the government for FINTRAC compliance. Financial Trasnactions and Reports Analysis Centre of Canada gather, analyzes, assesses and discloses financial intelligence. If we are noet in compliance, i.e. having all the necessary forms in the file, and completed properly, fines will be imposed.
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Fred Griffin Florida R...
Tallahassee, FL
5,104,931
I have not been personally audited... as for my brokerage... I have no idea... I would assume there have been spot ads and I believe the brokerage is run on a basis that we could be audited any day and are ready for it. And that is one reason I don't go into business for myself.
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Fred Griffin Florida R...
Tallahassee, FL
6,393,154
Always best to be prepared for an audit.
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Fred Griffin Florida R...
Tallahassee, FL
87,920
3,986,258
No, but it wold not surprise me in the least
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Fred Griffin Florida R...
Tallahassee, FL