For how long must transaction records be retained by a broker in Delaware?

In Delaware, brokers are required to retain transaction records for at least 5 years from the date of completion of the transaction. This regulation is crucial for ensuring accountability and transparency in real estate practices, as it allows for proper documentation in case of disputes, audits, or regulatory reviews. Maintaining these records assists in protecting both the broker and their clients by providing a clear historical account of transactions.

Retention periods vary by state and can be influenced by various factors including state laws and policies concerning real estate transactions. In Delaware, a 5-year retention period aligns well with industry standards, balancing the need for record-keeping with practical considerations for both brokers and their clients.

The other options either suggest a shorter retention period or an indefinite requirement, which do not align with the established practices and regulations in Delaware’s real estate transactions.