One of the more fun activities as a Broker/Owner is the annual examination from the Nebraska Real Estate Commission. The role of the real estate commission is to protect the public. In order to ensure that companies comply with all rules and regulations the real estate commission conducts a yearly audit examination of the Brokers files and trust account.
As broker/owner I am very fortunate to have a great group of more experienced agents who truly care about the quality of their work and follow the systems in place to make sure all the paperwork is properly filled out. This week we had our annual examination and we always look at this as a learning tool to better our systems. Our audit examination (I was told it was an examination and NOT an audit) was this week and it went off without a hitch.
The examiners pull random files to check dates and signatures and to see that all disclosures have been made. The examiners also look carefully at the trust account to make sure that all funds have been handled appropriately. Many agents are unaware of how closely a file is looked at and how important dates and signatures are to make a file complete.
Thanks,
David Matney, CRS,GRI
Alliance Real Estate
do you have this annual exam requirement for all brokers. We are required quite a few hours of continuing education. However, no ongoing exams
James, all companies are subject to an annual audit from the Nebraska Real Estate Commission.