Real Estate Brokerage Compliance Checklist

Florida real estate brokerages are subject to periodic audits by the Florida Real Estate Commission. Most compliance issues fall into a handful of categories: escrow account records, office signage, trust fund reconciliation, and transaction file documentation. Staying current on each area keeps your brokerage out of disciplinary proceedings.

Escrow accounts must be reconciled monthly with both the bank statement and the broker ledger. Any discrepancy must be documented and resolved promptly. FREC examiners look specifically at whether the reconciliation is being done on schedule and discrepancies are being corrected.

Office signage requirements specify that the brokerage name must be displayed at the entrance to any location where the public is received. Transaction files must be retained for a minimum of five years and must be available for inspection upon request from FREC.