Real Estate Broker how-to
How to Manage a Trust Account
Trust accounts must be handled exactly.
Quick answer
Trust accounts must be handled exactly. In short: deposit; keep; record, then complete the remaining steps below.
Step by step
Deposit client funds promptly.
Keep client funds separate from business funds.
Record every transaction.
Reconcile monthly.
Disburse only per contract.
Keep records for audits.
Safety reminders for real estate brokers
- Follow fair housing and real estate laws
- Use showing safety practices
- Protect client funds and data
- Supervise agents carefully
Key terms
MLS · Listing agreement · Buyer agreement · Commission · Escrow · Trust account: see the full real estate broker glossary.