Contract Law For Business
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FAQ
§ 62-13-312(b)(6), real estate licensees must preserve records relating to any real estate transaction for three (3) years following the consummation of said real estate transaction.
Electronic Records (TREC Rule 1260-02.40) Per the law real estate licensees must preserve records relating to any real estate transaction for 3 years.
Tennessee does not offer reciprocity with other states in regards to real estate licenses.
Real estate records are important to support the events of a sale and explain the legal agreements made during the course of a real estate transaction. In Tennessee, documents must be kept a minimum of three years, but it is recommended they are kept for six years in the event of any possible litigation.
Inactive Tennessee Real Estate Agents Required to request reinstatement through CORE. After registering, you must complete a reinstatement request; you will then be contacted within 7-10 business days with the requirements you'll have to satisfy.
The average salary for a real estate agent in Tennessee is $33,500 per year. Real estate agent salaries in Tennessee can vary between $16,500 to $220,000 and depend on various factors, including skills, experience, employer, bonuses, tips, and more.
A licensed broker must retain for three years copies of all listings, deposit receipts, canceled checks, trust account records, and other documents executed by or obtained by the broker in connection with any transaction for which a license is required.
TREC Rule 1260-02-.12 ADVERTISING a) No licensee shall advertise to sell, purchase, exchange, rent, or lease property in a manner indicating that the licensee is not engaged in the real estate business.