For how long should real estate transaction records be kept?

Real estate transaction records in Washington State are required to be maintained for three years after the conclusion of a transaction. This timeframe is established to ensure that all relevant documentation is available for review in case of audits or inquiries, providing protection for both the agents involved and their clients.

Maintaining records for three years balances the need for accountability and record-keeping with the practical aspects of managing these records effectively. After this period, it is generally considered that the risk of needing these documents significantly decreases, provided that all legal and regulatory obligations have been met during the transaction.

Therefore, the choice indicating that records should be kept for three years after the transaction closes is aligned with the legal requirements for real estate professionals in Washington State.