Kovats Real Estate School Practice Test

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For what duration must records of unaccepted offers and expired listings be kept?

  1. One year

  2. Three months

  3. Six months

  4. One year and a half

The correct answer is: Six months

The period for retaining records of unaccepted offers and expired listings is set at six months. This timeframe is aligned with best practices in real estate recordkeeping, ensuring that agents maintain necessary documentation while also avoiding excessive retention of outdated information. Keeping these records for this duration allows for a review if any disputes arise or if there is a need to verify past transactions. Proper management of these records is crucial for compliance and efficient operation within the real estate business.

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