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In this video, Annie Fitzsimmons, a legal hotline lawyer for Washington Realtors, discusses record retention requirements, especially relevant due to ongoing audits by the Department of Licensing. She emphasizes the responsibility of brokers to deliver necessary documents to their firms for compliance with these requirements. The information will be presented in a two-part video series and is also available in the winter 2019 edition of the ARTE magazine. Firms must maintain transaction files, as defined by the Department of Licensing, for a minimum of three years from the date of closing or when activity on the transaction ceases.
