accounting is the agent must be able to report the status of all funds received from or on behalf of the principal. Most state real estate license laws require a broker to give accurate copies of all documents to all parties affected by them and to keep copies on file for a specified period of time. Most license laws also require the broker to deposit immediately, or within 24 to 48 hours, all funds entrusted to the broker (such as earnest money deposits) in a special trust or escrow account. Commingling such monies with the broker's personal or general business funds is strictly illegal.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). accounting. Retrieved September 20, 2026, from http://smartdefine.org/accounting/definitions/1147007 |
| Chicago | Barry Goldsmith. 2010. "accounting" http://smartdefine.org/accounting/definitions/1147007 (accessed September 20, 2026). |
| Harvard | Barry Goldsmith 2010, accounting, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/accounting/definitions/1147007>. |
| MLA | Barry Goldsmith. "accounting" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/accounting/definitions/1147007> |