Good record keeping for your protection Good record

Good record keeping for your protection

Good record keeping increases your chance of a positive result when facing a claim against you. You have proof, which can help prevent “I said/you said” arguments.

Why record keeping matters Without good records, your evidence may be: ● seen as unsupported recollection ● vulnerable to being attacked as unreliable and self-serving

What is a record? ● anything that contains information or memorializes a past event ● electronic documents: emails, text messages, audio files ● handwritten or typed notes CONTENT counts more than form.

What records MUST be kept? Real Estate Council of BC Rules require some records to be in writing, including: ● Service Agreements (unless waived by client) ● Disclosure of Interest in Trade ● Disclosure of Remuneration ● Disclosure of Latent Defects ● Record keeping requirements in Part 8

What records SHOULD be kept? ● Dates, times and content of key communications with clients and other licensees ● Steps taken, confirming what has or has not been done ● Notes of discussions

Improving your record keeping ● Use consistent and clear language. ● Stick to facts; avoid editorial comments. ● Confirm client instructions in writing, including the date instructions are received. ● Request acknowledgement of receipt of important information or documents. ● Avoid casual communications.

Have you had or heard of cases where better records could have prevented misunderstandings? See the June 2017 issue of The Risk Report for one example.

Any questions? Whenever you’re in doubt, ask your managing broker for advice.

The bottom line: keep track of the facts. If you properly document your files, you are more likely to avoid the hassle and expense of claims.