For how long must a broker keep records of real estate transactions in Georgia?

In Georgia, the law mandates that real estate brokers must retain records of all real estate transactions for a minimum period of three years. This requirement is crucial, as it enables the Georgia Real Estate Commission to conduct audits and investigations if necessary. Retaining these records helps ensure accountability and transparency in real estate dealings, protecting both consumers and professionals within the industry.

The three-year period allows sufficient time for any potential disputes or issues arising from a transaction to be addressed adequately, as such matters may come to light after the closing of a sale. By following this regulation, brokers can demonstrate compliance and maintain proper documentation of their business activities, which is also essential for their own record-keeping practices and financial management.