Which documentation should not be retained in buyer prospect records to ensure compliance with fair housing laws?

Retaining the buyer's race in prospect records is not compliant with fair housing laws. Fair housing legislation aims to eliminate discrimination in housing on the basis of race, color, religion, sex, national origin, familial status, and disability. Collecting and retaining such demographic information can lead to potential bias in decision-making processes and practices that could discriminate against individuals based on their race.

In contrast, information such as the buyer's credit history, income level, and financial statements are relevant and necessary to assess a buyer's ability to purchase a property and engage in financial transactions. These details help agents and brokers determine financial qualifications and ensure they are providing appropriate services to all clients without violating fair housing standards. Thus, excluding race from buyer prospect records is essential to align with fair housing compliance and promote equality in the real estate market.